Registered number
10583111
Else Properties Ltd
Report and Accounts
31 January 2024
Else Properties Ltd
Report to the directors on the preparation of the unaudited statutory accounts of Else Properties Ltd for the year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Else Properties Ltd for the year ended 31 January 2024 which comprise of the Profit and Loss Account, the Balance Sheet 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
25 March 2024
Else Properties Ltd
Registered number: 10583111
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,460,177 1,459,982
Current assets
Debtors 4 8,000 -
Cash at bank and in hand 8,609 34,258
16,609 34,258
Creditors: amounts falling due within one year 5 (6,725) (20,233)
Net current assets 9,884 14,025
Total assets less current liabilities 1,470,061 1,474,007
Creditors: amounts falling due after more than one year 6 (1,365,481) (1,365,481)
Net assets 104,580 108,526
Capital and reserves
Called up share capital 2 2
Profit and loss account 104,578 108,524
Shareholders' funds 104,580 108,526
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W Else
Director
Approved by the board on 25 March 2024
Else Properties Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings 0% straight line
Office equipment 3 year straight line
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 1,459,349 949 1,460,298
Additions - 609 609
At 31 January 2024 1,459,349 1,558 1,460,907
Depreciation
At 1 February 2023 - 316 316
Charge for the year - 414 414
At 31 January 2024 - 730 730
Net book value
At 31 January 2024 1,459,349 828 1,460,177
At 31 January 2023 1,459,349 633 1,459,982
4 Debtors 2024 2023
£ £
Other debtors 8,000 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 7,473 5,381
Other taxes and social security costs 142 -
Other creditors (890) 14,852
6,725 20,233
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,365,481 1,365,481
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 1,365,481 1,365,481
Paratus AMC Ltd hold a charge dated 22 December 2022 over one freehold property. Belmont Green Finance Ltd have charges dated 1 April 2022 and 2 February 2022 over three freehold properties. Paragon Bank have a charge dated 1 June 2022 over one freehold property.
8 Other information
Else Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
44 Trowell Road
Nottingham
NG8 2DF
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