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Registration number: 11741558

Erden Investments Limited

Unaudited Financial Statements

for the Year Ended 31 March 2023

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Erden Investments Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

Erden Investments Limited

Company Information

Director

M D Erden

Registered office

130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

Accountants

Brebners
Chartered Accountants
130 Shaftesbury Avenue
London
W1D 5AR

 

Erden Investments Limited

Statement of Financial Position as at 31 March 2023

Note

2023
£

(As restated)

2022
£

Fixed assets

 

Other financial assets

4

652,987

252,245

Current assets

 

Debtors

5

5,331

350,276

Cash at bank and in hand

 

4,045

198

 

9,376

350,474

Creditors: Amounts falling due within one year

6

(355,783)

(138,400)

Net current (liabilities)/assets

 

(346,407)

212,074

Net assets

 

306,580

464,319

Capital and reserves

 

Called up share capital

2

2

Retained earnings

306,578

464,317

Shareholders' funds

 

306,580

464,319

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 26 November 2023
 

.........................................

M D Erden

Director

Company registration number: 11741558

 

Erden Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of investing in companies invested in natural resources.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company had net assets at 31 March 2023 amounting to £306,580.

The director does not believe that the residual effects of Covid-19 pandemic or the ongoing cost of living crisis will have a material impact upon the company.

Having made enquiries, and based upon the above, the director has a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Erden Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method.
Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

 

Erden Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2022

-

252,245

252,245

Additions

358,253

201,271

559,524

Fair value adjustments

(158,782)

-

(158,782)

At 31 March 2023

199,471

453,516

652,987

Carrying amount

At 31 March 2023

199,471

453,516

652,987

5

Debtors

2023
£

(As restated)

2022
£

Other debtors

5,331

350,276

5,331

350,276

6

Creditors

Creditors: amounts falling due within one year

2023
£

(As restated)

2022
£

Taxation and social security

43,374

43,118

Other creditors

312,409

95,282

355,783

138,400

7

Prior period adjustment

During the year the director identified that interest receivable of £240,000 should have been recognised in previous years subject to an equivalent bad debt provision. Additionally, in the year ended 31st March 2022 a bad debt provision of £240,000 should have been released and the appropriate corporate tax charge of £43,118 recognised. This was adjusted in the current year and the comparatives restated. Net assets at 31 March 2022 are greater, and the loss for the year then ended reduced by £196,882 from that previously stated.