Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr R C Skinner 24/05/2017 Mr G T E Sloan 24/05/2017 09 November 2023 The principal activity of the company is letting and operating of owned real estate. 10787319 2023-03-31 10787319 bus:Director1 2023-03-31 10787319 bus:Director2 2023-03-31 10787319 2022-03-31 10787319 core:CurrentFinancialInstruments 2023-03-31 10787319 core:CurrentFinancialInstruments 2022-03-31 10787319 core:Non-currentFinancialInstruments 2023-03-31 10787319 core:Non-currentFinancialInstruments 2022-03-31 10787319 core:ShareCapital 2023-03-31 10787319 core:ShareCapital 2022-03-31 10787319 core:RetainedEarningsAccumulatedLosses 2023-03-31 10787319 core:RetainedEarningsAccumulatedLosses 2022-03-31 10787319 bus:OrdinaryShareClass1 2023-03-31 10787319 2022-04-01 2023-03-31 10787319 bus:FullAccounts 2022-04-01 2023-03-31 10787319 bus:SmallEntities 2022-04-01 2023-03-31 10787319 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10787319 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10787319 bus:Director1 2022-04-01 2023-03-31 10787319 bus:Director2 2022-04-01 2023-03-31 10787319 2021-04-01 2022-03-31 10787319 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 10787319 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 10787319 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10787319 (England and Wales)

EMH APARTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

EMH APARTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

EMH APARTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
EMH APARTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Mr R C Skinner
Mr G T E Sloan
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 10787319 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
EMH APARTMENTS LIMITED

BALANCE SHEET

As at 31 March 2023
EMH APARTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Investment property 3 1,765,000 1,765,000
1,765,000 1,765,000
Current assets
Debtors 4 32,410 31,674
Cash at bank and in hand 24,347 26,278
56,757 57,952
Creditors: amounts falling due within one year 5 ( 1,507,285) ( 1,506,524)
Net current liabilities (1,450,528) (1,448,572)
Total assets less current liabilities 314,472 316,428
Creditors: amounts falling due after more than one year 6 ( 210,623) ( 225,745)
Provision for liabilities ( 43,000) ( 43,000)
Net assets 60,849 47,683
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 60,847 47,681
Total shareholders' funds 60,849 47,683

For the financial year ending 31 March 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 EMH Apartments Limited (registered number: 10787319) were approved and authorised for issue by the Board of Directors on 09 November 2023. They were signed on its behalf by:

Mr R C Skinner
Director
EMH APARTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
EMH APARTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

EMH Apartments 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
Centenary House Peninsula Park
Rydon Lane
Exeter, EX2 7XE

The principal place of business is;
3rd Floor, Northernhay Building
6 Northernhay Place
Exeter
EX4 3QJ

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. There are no material departures from FRS 102.

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

Going concern

These financial statements are prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

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

3. Investment property

Investment property
£
Valuation
As at 01 April 2022 1,765,000
As at 31 March 2023 1,765,000

Valuation

There has been no valuation of investment property by an independent valuer. The valuation of the company's investment property at 31 March 2023, has been included based on an open market valuation by the directors.

4. Debtors

2023 2022
£ £
Prepayments 30,810 30,124
Other debtors 1,600 1,550
32,410 31,674

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 14,961 14,800
Trade creditors 1,550 1,550
Amounts owed to directors 376 0
Other loans 1,486,849 1,486,849
Accruals 2,699 2,100
Other creditors 850 1,225
1,507,285 1,506,524

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

2023 2022
£ £
Bank loans (secured) 210,623 225,745

Included in total bank borrowings at the year end is £225,584 (2022: £240,545) on which the following security has been provided:

A first legal charge over freehold property owned by the company and other related companies, under the common control of the directors.

An all moneys guarantee and unlimited debenture from both Timepiece Limited and EMH Apartments Limited.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Related party transactions

Other related party transactions

2023 2022
£ £
Entitiies with joint control or significant influence 1,486,849 1,486,849

The loans are interest free and repayable on demand.