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REGISTERED NUMBER: 11010104 (England and Wales)















Eolian Three Limited

Financial Statements

for the Year Ended 31 March 2023






Eolian Three Limited (Registered number: 11010104)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Eolian Three Limited

Company Information
for the year ended 31 March 2023







Directors: M R Bolton
J A Corrigan
P C Chivers





Registered office: 91 Charlotte Street
London
W1T 4PX





Registered number: 11010104 (England and Wales)





Auditors: Haines Watts
Chartered Accountants and Statutory Auditor
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Eolian Three Limited (Registered number: 11010104)

Balance Sheet
31 March 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investments 4 5,485,153 6,047,913

Current assets
Debtors 5 37,154 24,515
Cash at bank 835,585 160,607
872,739 185,122
Creditors
Amounts falling due within one year 6 837,221 284,310
Net current assets/(liabilities) 35,518 (99,188 )
Total assets less current liabilities 5,520,671 5,948,725

Capital and reserves
Called up share capital 7 4,925,639 4,925,639
Share premium 8 440,581 440,581
Retained earnings 8 154,451 582,505
Shareholders' funds 5,520,671 5,948,725

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





M R Bolton - Director


Eolian Three Limited (Registered number: 11010104)

Notes to the Financial Statements
for the year ended 31 March 2023


1. Statutory information

Eolian Three Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Set out below is a summary of principal accounting policies, all of which have been consistently applied throughout the period.

The financial statements are presented in Pound Sterling (£).

Monetary amounts in the financial statements are rounded to the nearest £.

Preparation of consolidated financial statements
The financial statements contain information about Eolian Three Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Critical judgements in applying the Company's accounting policies
The critical judgement that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment
In assessing whether there have been any indicators or impairment of assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial period.

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below:

Eolian Three Limited (Registered number: 11010104)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued

(ii) Investments
The most critical estimates, assumptions and judgements relate to the determination of the carrying value of investments at cost less impairment. The nature, facts and circumstance of the investment drives the valuation methodology.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover relates to management and support services charged to group companies. Turnover is recognised in line with accrual accounting basis on fees receivable for services provided in the financial year.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less impairment.

Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, trade and other payables, loans and borrowings. The Company has chosen to apply the provisions of FRS102 Section 11 Basic Financial Instruments in full.

Financial assets and liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the Company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the Balance Sheetbalance sheet date.


Eolian Three Limited (Registered number: 11010104)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheetbalance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the directors have carefully considered these risks including an assessment on uncertainty on future trading projection for a period of at least 12 months from the date of signing the financial statements, and the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations and external debt liabilities.

In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider that the Company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the directors have continued to adopt the going concern basis of accounting in preparing these financial statements.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4. Fixed asset investments

2023 2022
£ £
Shares in group undertakings 50,001 50,001
Loans to group undertakings 5,435,152 5,997,912
5,485,153 6,047,913

Eolian Three Limited (Registered number: 11010104)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


4. Fixed asset investments - continued

Additional information is as follows:
Shares in
group
undertakings
£
Cost
At 1 April 2022
and 31 March 2023 50,001
Net book value
At 31 March 2023 50,001
At 31 March 2022 50,001
Loans to
group
undertakings
£
At 1 April 2022 5,997,912
Repayment in year (562,760 )
At 31 March 2023 5,435,152

Loans made by the Company to its subsidiary are intended for use on a continuing basis in the company's activities. As such the loans made effectively represent an investment in the subsidiary.

Interest is charged at 6% per annum. There is no repayment schedule, loans are repayable on demand.

The fixed asset investments represent the subsidiary directly owned by Eolian Three Limited and is detailed in the consolidated accounts.

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 900 -
Amounts owed by group undertakings 36,254 4,998
VAT - 19,517
37,154 24,515

6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors - 130,853
VAT 1,275 -
Accrued expenses 835,946 153,457
837,221 284,310

Eolian Three Limited (Registered number: 11010104)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
4,925,639 Ordinary £1 4,925,639 4,925,639

8. Reserves
Retained Share
earnings premium Totals
£ £ £

At 1 April 2022 582,505 440,581 1,023,086
Profit for the year 557,072 557,072
Dividends (985,126 ) (985,126 )
At 31 March 2023 154,451 440,581 595,032

9. Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Andrew Jepson FCCA (Senior Statutory Auditor)
for and on behalf of Haines Watts

10. Related party disclosures

The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

There were no transactions with key management personnel.

11. Controlling parties

The immediate parent company is Eolian Three Limited.

There is no ultimate controlling party.