IRIS Accounts Production v23.4.0.336 11728566 director 1.1.23 31.12.23 31.12.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117285662022-12-31117285662023-12-31117285662023-01-012023-12-31117285662021-12-31117285662022-01-012022-12-31117285662022-12-3111728566ns15:EnglandWales2023-01-012023-12-3111728566ns14:PoundSterling2023-01-012023-12-3111728566ns10:Director12023-01-012023-12-3111728566ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3111728566ns10:SmallEntities2023-01-012023-12-3111728566ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3111728566ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3111728566ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111728566ns10:FullAccounts2023-01-012023-12-3111728566ns10:RegisteredOffice2023-01-012023-12-3111728566ns5:CurrentFinancialInstruments2023-12-3111728566ns5:CurrentFinancialInstruments2022-12-3111728566ns5:Non-currentFinancialInstruments2023-12-3111728566ns5:Non-currentFinancialInstruments2022-12-3111728566ns5:ShareCapital2023-12-3111728566ns5:ShareCapital2022-12-3111728566ns5:RetainedEarningsAccumulatedLosses2023-12-3111728566ns5:RetainedEarningsAccumulatedLosses2022-12-3111728566ns5:FurnitureFittings2023-01-012023-12-3111728566ns5:FurnitureFittings2022-12-3111728566ns5:FurnitureFittings2023-12-3111728566ns5:FurnitureFittings2022-12-3111728566ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3111728566ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3111728566ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-12-3111728566ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-12-3111728566ns5:Non-currentFinancialInstruments2023-01-012023-12-31
REGISTERED NUMBER: 11728566 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

ELLAS GLOBAL LIMITED

ELLAS GLOBAL LIMITED (REGISTERED NUMBER: 11728566)






Contents of the Financial Statements
for the year ended 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ELLAS GLOBAL LIMITED

Company Information
for the year ended 31 DECEMBER 2023







DIRECTOR: G Skoutellas





REGISTERED OFFICE: Global House
303 Ballards Lane
London
N12 8NP





REGISTERED NUMBER: 11728566 (England and Wales)






ELLAS GLOBAL LIMITED (REGISTERED NUMBER: 11728566)

Statement of Financial Position
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Tangible assets 5 3,101 3,877
Investments 6 924,000 924,000
Investment properties 7 3,815,085 3,815,085
4,742,186 4,742,962

CURRENT ASSETS
Debtors 8 20,305 15,986
Cash at bank 30,842 136,667
51,147 152,653
CREDITORS
Amounts falling due within one year 9 (34,326 ) (14,498 )
NET CURRENT ASSETS 16,821 138,155
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,759,007

4,881,117

CREDITORS
Amounts falling due after more than one
year

10

(4,836,550

)

(4,940,200

)
NET LIABILITIES (77,543 ) (59,083 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (77,643 ) (59,183 )
SHAREHOLDERS' FUNDS (77,543 ) (59,083 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

ELLAS GLOBAL LIMITED (REGISTERED NUMBER: 11728566)

Statement of Financial Position - continued
31 DECEMBER 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 15 April 2024 and were signed by:





G Skoutellas - Director


ELLAS GLOBAL LIMITED (REGISTERED NUMBER: 11728566)

Notes to the Financial Statements
for the year ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Ellas Global 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business. Revenue is generated from property rental. The company recognises revenue based on short lease agreement with tenants.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Investments
Investments in other participating interests are recognised at cost.

ELLAS GLOBAL LIMITED (REGISTERED NUMBER: 11728566)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023
and 31 December 2023 9,465
DEPRECIATION
At 1 January 2023 5,588
Charge for year 776
At 31 December 2023 6,364
NET BOOK VALUE
At 31 December 2023 3,101
At 31 December 2022 3,877

6. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 January 2023
and 31 December 2023 924,000
NET BOOK VALUE
At 31 December 2023 924,000
At 31 December 2022 924,000

The above investment relates to 9240 shares of £100 each purchased by the company in Credence Capital Kingsthorpe Limited, a Company registered in Guernsey.

7. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 3,815,085
NET BOOK VALUE
At 31 December 2023 3,815,085
At 31 December 2022 3,815,085

ELLAS GLOBAL LIMITED (REGISTERED NUMBER: 11728566)

Notes to the Financial Statements - continued
for the year ended 31 DECEMBER 2023

7. INVESTMENT PROPERTIES - continued

The fair value of the properties at December 2023 has been arrived at on the basis of a valuation carried out at that date by the director of the company who is not a professionally qualified valuer. The director believes the values shown in the accounts reflect the market value at at the reporting date. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in the location and takes into account the yield from rentals in the area where the property is situated.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Other debtors 20,305 15,986

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 17,223 9,372
Other creditors 17,103 5,126
34,326 14,498

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans 2,464,000 2,464,000
Other creditors 2,372,550 2,476,200
4,836,550 4,940,200

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,464,000 2,464,000

Bank loans are secured on the company's investment properties.

Other creditors relates to a loan provided by the director to the company which is unsecured and interest free.