REGISTERED NUMBER: |
Eamar Developments (UK) Limited |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
REGISTERED NUMBER: |
Eamar Developments (UK) Limited |
Unaudited Financial Statements |
for the Year Ended 30 September 2023 |
Eamar Developments (UK) Limited (Registered number: 08004537) |
Contents of the Financial Statements |
for the Year Ended 30 September 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Eamar Developments (UK) Limited |
Company Information |
for the Year Ended 30 September 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Mynshull House |
78 Churchgate |
Stockport |
Cheshire |
SK1 1YJ |
Eamar Developments (UK) Limited (Registered number: 08004537) |
Balance Sheet |
30 September 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital |
Fair value reserve | 9 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds |
The director acknowledges his 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. |
Eamar Developments (UK) Limited (Registered number: 08004537) |
Balance Sheet - continued |
30 September 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Eamar Developments (UK) Limited (Registered number: 08004537) |
Notes to the Financial Statements |
for the Year Ended 30 September 2023 |
1. | Statutory information |
Eamar Developments (UK) Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view. |
If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified. |
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 sheet date. |
Eamar Developments (UK) Limited (Registered number: 08004537) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 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 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Plant and |
machinery |
etc |
£ |
Cost |
At 1 October 2022 |
and 30 September 2023 |
Depreciation |
At 1 October 2022 |
Charge for year |
At 30 September 2023 |
Net book value |
At 30 September 2023 |
At 30 September 2022 |
Eamar Developments (UK) Limited (Registered number: 08004537) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 October 2022 |
Additions |
At 30 September 2023 |
Net book value |
At 30 September 2023 |
At 30 September 2022 |
The director considers the cost of the investment properties to be a true reflection of the market value at the balance sheet date. |
Fair value at 30 September 2023 is represented by: |
£ |
Valuation in 2019 | 5,377,125 |
Valuation in 2022 | (2,911,002 | ) |
Cost | 32,065,204 |
34,531,327 |
If the investment properties had not been revalued they would have been included at the following historical cost: |
30.9.23 | 30.9.22 |
£ | £ |
Cost | 32,065,204 | 31,625,037 |
Investment properties were valued on an open market basis basis on 30 September 2022 by the director . |
6. | Debtors: amounts falling due within one year |
30.9.23 | 30.9.22 |
£ | £ |
Trade debtors |
Other debtors |
Eamar Developments (UK) Limited (Registered number: 08004537) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2023 |
7. | Creditors: amounts falling due within one year |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans |
9. | Reserves |
Fair |
value |
reserve |
£ |
At 1 October 2022 |
Transfer to retained earnings | (104,991 | ) |
At 30 September 2023 |