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REGISTERED NUMBER: 06430192 (England and Wales)











ENLIGHTENED PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2023






ENLIGHTENED PROPERTY LIMITED (REGISTERED NUMBER: 06430192)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


ENLIGHTENED PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH NOVEMBER 2023







DIRECTOR: C J Michaelides





SECRETARY: C J Michaelides





REGISTERED OFFICE: Baya Cottage
Catsfield Road
Ninfield
East Sussex
TN33 9JA





REGISTERED NUMBER: 06430192 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
20 Eversley Road
Bexhill-on-Sea
East Sussex
TN40 1HE

ENLIGHTENED PROPERTY LIMITED (REGISTERED NUMBER: 06430192)

BALANCE SHEET
30TH NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,145,243 1,072,355

CURRENT ASSETS
Debtors 5 796 286
Investments 6 100,000 100,000
Cash in hand 354 228
101,150 100,514
CREDITORS
Amounts falling due within one year 7 159,440 202,869
NET CURRENT LIABILITIES (58,290 ) (102,355 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,086,953

970,000

CREDITORS
Amounts falling due after more than one
year

8

(601,000

)

(563,998

)

PROVISIONS FOR LIABILITIES (57,112 ) (42,075 )
NET ASSETS 428,841 363,927

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 167,404 122,007
Retained earnings 261,337 241,820
SHAREHOLDERS' FUNDS 428,841 363,927

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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.

ENLIGHTENED PROPERTY LIMITED (REGISTERED NUMBER: 06430192)

BALANCE SHEET - continued
30TH NOVEMBER 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 15th March 2024 and were signed by:





C J Michaelides - Director


ENLIGHTENED PROPERTY LIMITED (REGISTERED NUMBER: 06430192)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023


1. STATUTORY INFORMATION

Enlightened Property 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 5% on cost
Fixtures and fittings - 18% on reducing balance
Computer equipment - 100% on cost

Leasehold properties are recorded at their fair value as at the balance sheet date, and are not depreciated. Any movement in fair value is recorded in profit or loss for the year, and transferred to the fair value reserve (net of the associated deferred tax).

Financial instruments
The Company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

The Company also enters into debt-based investments for crowd funding. Recognition of these assets is at cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 1 (2022 - 1 ) .

ENLIGHTENED PROPERTY LIMITED (REGISTERED NUMBER: 06430192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and Computer
property leasehold fittings equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1st December 2022 11,240 1,066,731 2,302 4,488 1,084,761
Additions - 12,740 376 - 13,116
Revaluations - 60,529 - - 60,529
At 30th November 2023 11,240 1,140,000 2,678 4,488 1,158,406
DEPRECIATION
At 1st December 2022 6,323 - 1,595 4,488 12,406
Charge for year 562 - 195 - 757
At 30th November 2023 6,885 - 1,790 4,488 13,163
NET BOOK VALUE
At 30th November 2023 4,355 1,140,000 888 - 1,145,243
At 30th November 2022 4,917 1,066,731 707 - 1,072,355

Leasehold properties are recorded at their fair value as at the balance sheet date.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 796 286

6. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 100,000 100,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 938 98,341
Trade creditors 1,451 -
Taxation and social security 4,880 5,751
Other creditors 152,171 98,777
159,440 202,869

ENLIGHTENED PROPERTY LIMITED (REGISTERED NUMBER: 06430192)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH NOVEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 440,000 402,998
Other creditors 161,000 161,000
601,000 563,998

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 938 80,893
Bank loans 440,000 420,446
440,938 501,339

The bank loan's and overdrafts are secured against the properties owned by the company, and a fixed and floating charge over all other assets of the company. The Director has also provided a personal guarantee on behalf of the company, limited to £200,000 plus interest and costs.

10. CALLED UP SHARE CAPITAL

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

11. RESERVES
Fair
value
reserve
£   
At 1st December 2022 122,007
Movement in fair value 45,397

At 30th November 2023 167,404