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REGISTERED NUMBER: 00641766 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2023

FOR

EMCO PROPERTIES LIMITED

EMCO PROPERTIES LIMITED (REGISTERED NUMBER: 00641766)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

EMCO PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 5 APRIL 2023







DIRECTORS: Sharon Freilich
L C Freilich
E Freilich





SECRETARY: E Freilich





REGISTERED OFFICE: 5 Sentinel Square
Hendon
London
NW4 2EL





REGISTERED NUMBER: 00641766 (England and Wales)





ACCOUNTANTS: The Paris Partnership LLP
Chartered Accountants
Russell House
140 High Street
Edgware
Middlesex
HA8 7LW

EMCO PROPERTIES LIMITED (REGISTERED NUMBER: 00641766)

STATEMENT OF FINANCIAL POSITION
5 APRIL 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 2,612,916 1,603,965

CURRENT ASSETS
Debtors 5 1,182 16,904
Cash at bank 5,448 2,445
6,630 19,349
CREDITORS
Amounts falling due within one year 6 (32,340 ) (27,927 )
NET CURRENT LIABILITIES (25,710 ) (8,578 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,587,206

1,595,387

PROVISIONS FOR LIABILITIES (600,855 ) (264,949 )
NET ASSETS 1,986,351 1,330,438

CAPITAL AND RESERVES
Called up share capital 7 100 100
Fair value reserve 8 1,955,584 1,214,191
Retained earnings 8 30,667 116,147
SHAREHOLDERS' FUNDS 1,986,351 1,330,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 30 November 2023 and were signed on its behalf by:





Sharon Freilich - Director


EMCO PROPERTIES LIMITED (REGISTERED NUMBER: 00641766)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5 APRIL 2023


1. STATUTORY INFORMATION

Emco Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts are rounded to the nearest pound.

Turnover
Turnover represents rental income receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Interest payable
Interest payable is charged to the profit and loss account on an accruals basis.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest .

Trade creditors are obligations to pay for goods or services that have been acquired that have been acquired in the ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Government grants
Government grants are recognised where there is reasonable assurance that the grant will be received. Loans provided and/or guaranteed by government that represent market rates of interest are recorded at the amount of the proceeds received and recognised within Borrowings. Those loans provided and/or guaranteed by government that represent below market rates of interest are measured at inception at their fair value and recognised within Borrowings, with the differential to the proceeds received recorded within Deferred income and released to the relevant financial statement caption in the Income statement on an accruals basis. Grants that compensate the Company for expenses incurred are recognised in the Income statement in the relevant financial statement caption on an accruals basis in the periods in which the expenses are recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

EMCO PROPERTIES LIMITED (REGISTERED NUMBER: 00641766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 6 April 2022 1,603,965
Additions 15,320
Revaluations 993,631
At 5 April 2023 2,612,916
NET BOOK VALUE
At 5 April 2023 2,612,916
At 5 April 2022 1,603,965

Fair value at 5 April 2023 is represented by:
£   
Valuation in 2021 1,603,965
Valuation in 2023 1,008,951
2,612,916

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 75,332 75,332

The investment property was valued on an open market basis on 5 April 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 1,182 16,904

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,520 2,520
Taxation and social security 6,612 4,493
Other creditors 23,208 20,914
32,340 27,927

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

EMCO PROPERTIES LIMITED (REGISTERED NUMBER: 00641766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 5 APRIL 2023


8. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 6 April 2022 116,147 1,214,191 1,330,338
Profit for the year 685,913 685,913
Dividends (30,000 ) (30,000 )
Revaluation reserve (741,393 ) 741,393 -
At 5 April 2023 30,667 1,955,584 1,986,251

9. RELATED PARTY DISCLOSURES

Sharon Freilich
Director


2023 2022
£    £   
Amount due (to)/from related party at the balance sheet date (220 ) 8,352

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EMCO PROPERTIES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Emco Properties Limited for the year ended 5 April 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Emco Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Emco Properties Limited and state those matters that we have agreed to state to the Board of Directors of Emco Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emco Properties Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Emco Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Emco Properties Limited. You consider that Emco Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Emco Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Paris Partnership LLP
Chartered Accountants
Russell House
140 High Street
Edgware
Middlesex
HA8 7LW


30 November 2023