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REGISTERED NUMBER: 08004537 (England and Wales)












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: A S Alnaeem





Registered office: 14 Green Pastures
Stockport
Cheshire
SK4 3RA





Registered number: 08004537 (England and Wales)





Accountants: Warr & Co Limited
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 69,586 92,784
Investment property 5 34,531,327 34,091,160
34,600,913 34,183,944

Current assets
Debtors 6 254,435 207,401
Cash at bank and in hand 523,484 222,928
777,919 430,329
Creditors
Amounts falling due within one year 7 23,750,778 30,169,471
Net current liabilities (22,972,859 ) (29,739,142 )
Total assets less current liabilities 11,628,054 4,444,802

Creditors
Amounts falling due after more than one
year

8

(9,521,614

)

(2,390,202

)

Provisions for liabilities (431,967 ) (354,285 )
Net assets 1,674,473 1,700,315

Capital and reserves
Called up share capital 100 100
Fair value reserve 9 2,081,026 2,186,017
Retained earnings (406,653 ) (485,802 )
Shareholders' funds 1,674,473 1,700,315

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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


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 director and authorised for issue on 19 January 2024 and were signed by:





A S Alnaeem - Director


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 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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 8 (2022 - 9 ) .

4. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
At 1 October 2022
and 30 September 2023 459,006
Depreciation
At 1 October 2022 366,222
Charge for year 23,198
At 30 September 2023 389,420
Net book value
At 30 September 2023 69,586
At 30 September 2022 92,784

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 34,091,160
Additions 440,167
At 30 September 2023 34,531,327
Net book value
At 30 September 2023 34,531,327
At 30 September 2022 34,091,160

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 14,273 4,777
Other debtors 240,162 202,624
254,435 207,401

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 409,973 701,109
Trade creditors 81,767 61,617
Taxation and social security - 25,138
Other creditors 23,259,038 29,381,607
23,750,778 30,169,471

8. Creditors: amounts falling due after more than one year
30.9.23 30.9.22
£    £   
Bank loans 9,521,614 2,390,202

9. Reserves
Fair
value
reserve
£   
At 1 October 2022 2,186,017
Transfer to retained earnings (104,991 )

At 30 September 2023 2,081,026