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Registration number: 11575109

EB Property Development Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2023

 

EB Property Development Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

EB Property Development Ltd

Company Information

Directors

Ms A Brewer

Miss GL Else

Mrs AM Else

PJ Christofides

Registered office

Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

Accountants

Boon and Worth Limited
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS

 

EB Property Development Ltd

(Registration number: 11575109)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

530,000

415,000

Current assets

 

Cash at bank and in hand

 

3,592

6,110

Creditors: Amounts falling due within one year

5

(112,169)

(122,665)

Net current liabilities

 

(108,577)

(116,555)

Total assets less current liabilities

 

421,423

298,445

Creditors: Amounts falling due after more than one year

5

(246,551)

(262,249)

Provisions for liabilities

(31,090)

(9,240)

Net assets

 

143,782

26,956

Capital and reserves

 

Called up share capital

100

100

Retained earnings

143,682

26,856

Shareholders' funds

 

143,782

26,956

 

EB Property Development Ltd

(Registration number: 11575109)
Balance Sheet as at 30 September 2023

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 April 2024 and signed on its behalf by:
 

.........................................
Ms A Brewer
Director

.........................................
Miss GL Else
Director

.........................................
Mrs AM Else
Director

.........................................
PJ Christofides
Director

 

EB Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales..

The address of its registered office is:
Suite A4, Skylon Court
Coldnose Road
Rotherwas
Hereford
HR2 6JS
England

These financial statements were authorised for issue by the Board on 3 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

EB Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

EB Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Investment properties

2023
£

At 1 October

415,000

Fair value adjustments

115,000

At 30 September

530,000

There has been no valuation of investment property by an independent valuer.

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

2,614

-

Accruals and deferred income

8,463

8,463

Other creditors

101,092

114,202

112,169

122,665

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

246,551

262,249

6

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

246,551

262,249

 

EB Property Development Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Related party transactions

Transactions with directors

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

PJ Christofides

Director's loan account

-

15,000

(15,000)

-

         
       

 

2022

At 1 October 2021
£

Advances to director
£

At 30 September 2022
£

PJ Christofides

Director's loan account

(2,096)

2,096

-

       
     

 

Summary of transactions with other related parties

Summary of transactions with other related parties
 Lurline Property Limited
At the balance sheet date the amount due to Lurline Property Limited was £43,546 (2022 - £58,546). PJ Christofides and Ms A Brewer are directors in this company,

Inspire Homes (Southam) Limited
At the balance sheet date the amount due to Inspire Homes (Southam) Limited was £45,546 (2022 -£43,656). Mrs AM Else and Miss GL Else are directors in this company,