Registered number
13725403
Elements Property (London) Ltd
Filleted Accounts
31 March 2023
Elements Property (London) Ltd
Registered number: 13725403
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 8,876 11,095
Investments 4 447,500 447,500
456,376 458,595
Current assets
Cash at bank and in hand 2,053 7,200
Creditors: amounts falling due within one year 5 (17,694) (17,174)
Net current liabilities (15,641) (9,974)
Total assets less current liabilities 440,735 448,621
Creditors: amounts falling due after more than one year 6 (448,689) (452,022)
Net liabilities (7,954) (3,401)
Capital and reserves
Called up share capital 2 2
Profit and loss account (7,956) (3,403)
Shareholders' funds (7,954) (3,401)
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.
Clare Occomore
Director
Approved by the board on 23 November 2023
Elements Property (London) Ltd
Notes to the Accounts
for the period from 1 December 2022 to 31 March 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 in respect of rental income
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Investments
Investments relate to a residential property held for rental
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 11,095
At 31 March 2023 11,095
Depreciation
Charge for the period 2,219
At 31 March 2023 2,219
Net book value
At 31 March 2023 8,876
At 30 November 2022 11,095
4 Investments
Other
investments
£
Cost
At 1 December 2022 447,500
At 31 March 2023 447,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Mortgage 12,000 12,000
Other creditors 5,694 5,174
17,694 17,174
6 Creditors: amounts falling due after one year 2023 2022
£ £
Trade creditors 298,689 302,022
Amounts owed to group undertakings and undertakings in which the company has a participating interest 150,000 150,000
448,689 452,022
7 Other information
Elements Property (London) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
39 Rowtown
Addlestone
Surrey,
United Kingdom, KT15 1EJ
8 Going concern
The accounts are prepared on the going concern basis which assumes the continued support of the assocated company ( see note 6 )
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