Silverfin false 30/04/2023 01/05/2022 30/04/2023 A Noe 10/04/2019 M Noe 10/04/2019 31 October 2023 The principal activity of the company continued to be that of property investment. 11938706 2023-04-30 11938706 bus:Director1 2023-04-30 11938706 bus:Director2 2023-04-30 11938706 2022-04-30 11938706 core:CurrentFinancialInstruments 2023-04-30 11938706 core:CurrentFinancialInstruments 2022-04-30 11938706 core:Non-currentFinancialInstruments 2023-04-30 11938706 core:Non-currentFinancialInstruments 2022-04-30 11938706 core:ShareCapital 2023-04-30 11938706 core:ShareCapital 2022-04-30 11938706 core:RetainedEarningsAccumulatedLosses 2023-04-30 11938706 core:RetainedEarningsAccumulatedLosses 2022-04-30 11938706 core:LandBuildings 2022-04-30 11938706 core:LandBuildings 2023-04-30 11938706 2021-04-30 11938706 core:RevaluationInvestmentPropertyDeferredTax 2023-04-30 11938706 core:RevaluationInvestmentPropertyDeferredTax 2022-04-30 11938706 2022-05-01 2023-04-30 11938706 bus:FullAccounts 2022-05-01 2023-04-30 11938706 bus:SmallEntities 2022-05-01 2023-04-30 11938706 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 11938706 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 11938706 bus:Director1 2022-05-01 2023-04-30 11938706 bus:Director2 2022-05-01 2023-04-30 11938706 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 11938706 2021-05-01 2022-04-30 11938706 core:LandBuildings 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure

Company No: 11938706 (England and Wales)

EZESTAR LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

EZESTAR LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

EZESTAR LIMITED

BALANCE SHEET

As at 30 April 2023
EZESTAR LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 19,000 0
Investment property 4 1,080,317 759,997
1,099,317 759,997
Current assets
Debtors 5 86,456 22,217
Cash at bank and in hand 15,516 222,669
101,972 244,886
Creditors: amounts falling due within one year 6 ( 808,857) ( 805,812)
Net current liabilities (706,885) (560,926)
Total assets less current liabilities 392,432 199,071
Creditors: amounts falling due after more than one year 7 ( 235,390) 0
Provision for liabilities 8 ( 42,747) ( 42,747)
Net assets 114,295 156,324
Capital and reserves
Called-up share capital 85 85
Profit and loss account 114,210 156,239
Total shareholders' funds 114,295 156,324

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Ezestar Limited (registered number: 11938706) were approved and authorised for issue by the Director. They were signed on its behalf by:

M Noe
Director

31 October 2023

EZESTAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
EZESTAR LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ezestar Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises rent receivable on the investment property.

Revenue is recognised in the period to which the rental income relates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Profit and Loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 May 2022 0 0
Additions 20,000 20,000
At 30 April 2023 20,000 20,000
Accumulated depreciation
At 01 May 2022 0 0
Charge for the financial year 1,000 1,000
At 30 April 2023 1,000 1,000
Net book value
At 30 April 2023 19,000 19,000
At 30 April 2022 0 0

4. Investment property

Investment property
£
Valuation
As at 01 May 2022 759,997
Additions 320,320
As at 30 April 2023 1,080,317

5. Debtors

2023 2022
£ £
Trade debtors 11,097 0
Other debtors 75,359 22,217
86,456 22,217

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 432 288
Other creditors 808,425 805,524
808,857 805,812

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 235,390 0

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 42,747) 0
Charged to the Profit and Loss Account 0 ( 42,747)
At the end of financial year ( 42,747) ( 42,747)

The deferred taxation balance is made up as follows:

2023 2022
£ £
Revaluation of investment property ( 42,747) ( 42,747)

9. Related party transactions

Transactions with the entity's directors

Advances

Included within other debtors is a balance of £69,633 (2022: £20,265) that is owed by the director. Interest has been charged at 2%. The loan was fully repaid within 9 months of the year end date.