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Registered Number: SC702595
Scotland

 

 

 


Report of the Director and Unaudited Financial Statements

for the year ended 30 June 2023

for

ELSALI PROPERTIES LTD

 
 
 
£
2023
£
   
£
2022
£
Fixed assets 277,443  151,628 
Current assets 584  773 
Creditors: amount falling due within one year (87,474) (49,318)
Net current assets (86,890) (48,545)
Total assets less current liabilities 190,553  103,083 
Creditors: amount falling due after more than one year (195,750) (105,750)
Net assets (5,197) (2,667)
 
Capital and reserves (5,197) (2,667)
 
  1. For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
  2. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the companies act 2006.
  3. 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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Signed on behalf of the board of directors:


----------------------------------
Olumide Oyewale Olowude
Director

Date approved: 21 November 2023
1
Statutory Information
ELSALI PROPERTIES LTD is a private limited company, limited by shares, domiciled in Scotland, registration number SC702595, registration address 2 Maryston Place, Glasgow, Scotland, G33 1NY, United Kingdom.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives.
2/1, 8 Alexandra Gate, GLASGOW, G31 3AY- £147,177
 
Fixtures and Fittings 20% Reducing Balance
2.

Tangible fixed assets

Cost or Valuation Freehold property   Fixtures and Fittings   Total
  £   £   £
At 01 July 2022 147,177    5,564    152,741 
Additions 126,705      126,705 
Disposals    
At 30 June 2023 273,882    5,564    279,446 
Depreciation
At 01 July 2022   1,113    1,113 
Charge for year   890    890 
On disposals    
At 30 June 2023   2,003    2,003 
Net book values
Closing balance as at 30 June 2023 273,882    3,561    277,443 
Opening balance as at 01 July 2022 147,177    4,451    151,628 

3.

Average number of employees

Average number of employees during the year was 2  (2022: 2).
2