Registered number
13940511
Excelsior Residential Ltd
Filleted Accounts
28 February 2023
Excelsior Residential Ltd
Registered number: 13940511
Balance Sheet
as at 28 February 2023
Notes 2023
£
Fixed assets
Investments 3 172,225
Current assets
Cash at bank and in hand 2,487
Creditors: amounts falling due within one year 4 (55,282)
Net current liabilities (52,795)
Total assets less current liabilities 119,430
Creditors: amounts falling due after more than one year 5 (121,746)
Net liabilities (2,316)
Capital and reserves
Called up share capital 100
Profit and loss account (2,416)
Shareholders' funds (2,316)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Anthony Burton
Director
Approved by the board on 23 October 2023
Excelsior Residential Ltd
Notes to the Accounts
for the period from 25 February 2022 to 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023
Number
Average number of persons employed by the company 2
3 Investments
Other
investments
£
Cost
Additions 172,225
At 28 February 2023 172,225
4 Creditors: amounts falling due within one year 2023
£
Bank loans and overdrafts 3,882
Other creditors 51,400
55,282
5 Creditors: amounts falling due after one year 2023
£
Bank loans 121,746
6 Loans 2023
£
Creditors include:
Secured bank loans 125,628
The bank loan is a mortgage secured on the investment concerned.
7 Other information
Excelsior Residential Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12a Montpellier Parade
Harrogate
North Yorkshire
HG1 2TJ
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