Silverfin false false 31/07/2023 01/08/2022 31/07/2023 Andrew Martin Rice 23/12/2013 07 November 2023 The principal activity of the Company during the financial year was property rental. 08825240 2023-07-31 08825240 bus:Director1 2023-07-31 08825240 2022-07-31 08825240 core:CurrentFinancialInstruments 2023-07-31 08825240 core:CurrentFinancialInstruments 2022-07-31 08825240 core:Non-currentFinancialInstruments 2023-07-31 08825240 core:Non-currentFinancialInstruments 2022-07-31 08825240 core:ShareCapital 2023-07-31 08825240 core:ShareCapital 2022-07-31 08825240 core:RetainedEarningsAccumulatedLosses 2023-07-31 08825240 core:RetainedEarningsAccumulatedLosses 2022-07-31 08825240 core:LandBuildings 2022-07-31 08825240 core:LandBuildings 2023-07-31 08825240 2022-08-01 2023-07-31 08825240 bus:FilletedAccounts 2022-08-01 2023-07-31 08825240 bus:SmallEntities 2022-08-01 2023-07-31 08825240 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 08825240 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08825240 bus:Director1 2022-08-01 2023-07-31 08825240 2021-08-01 2022-07-31 08825240 core:Non-currentFinancialInstruments 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Company No: 08825240 (England and Wales)

ELITE SASE PROPERTY LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

ELITE SASE PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

ELITE SASE PROPERTY LIMITED

BALANCE SHEET

As at 31 July 2023
ELITE SASE PROPERTY LIMITED

BALANCE SHEET (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 765,298 765,298
765,298 765,298
Current assets
Debtors 4 18,339 21,069
Cash at bank and in hand 168,383 277,213
186,722 298,282
Creditors: amounts falling due within one year 5 ( 45,795) ( 64,604)
Net current assets 140,927 233,678
Total assets less current liabilities 906,225 998,976
Creditors: amounts falling due after more than one year 6 ( 336,419) ( 503,997)
Net assets 569,806 494,979
Capital and reserves
Called-up share capital 1 1
Profit and loss account 569,805 494,978
Total shareholder's funds 569,806 494,979

For the financial year ending 31 July 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 financial statements of Elite SASE Property Limited (registered number: 08825240) were approved and authorised for issue by the Director on 07 November 2023. They were signed on its behalf by:

Andrew Martin Rice
Director
ELITE SASE PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
ELITE SASE PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elite SASE Property Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 91-93 Sterte Avenue West, Poole, BH15 2AL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 August 2022 765,298 765,298
At 31 July 2023 765,298 765,298
Accumulated depreciation
At 01 August 2022 0 0
At 31 July 2023 0 0
Net book value
At 31 July 2023 765,298 765,298
At 31 July 2022 765,298 765,298

4. Debtors

2023 2022
£ £
Trade debtors 0 2,928
Other debtors 18,339 18,141
18,339 21,069

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 22,375 40,715
Trade creditors 1,244 39
Taxation and social security 21,218 23,480
Other creditors 958 370
45,795 64,604

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 336,419 503,997

There are no amounts included above in respect of which any security has been given by the small entity.