ELBA PARTNERS LTD 14112016 false 2022-05-17 2023-05-31 2023-05-31 The principal activity of the company is that of an investment properties holder. Digita Accounts Production Advanced 6.30.9574.0 true true 14112016 2022-05-17 2023-05-31 14112016 2023-05-31 14112016 bus:Director1 2023-05-31 14112016 bus:Director2 2023-05-31 14112016 bus:OrdinaryShareClass1 2023-05-31 14112016 core:RetainedEarningsAccumulatedLosses 2023-05-31 14112016 core:ShareCapital 2023-05-31 14112016 core:CurrentFinancialInstruments 2023-05-31 14112016 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14112016 core:OtherRelatedParties 2023-05-31 14112016 bus:SmallEntities 2022-05-17 2023-05-31 14112016 bus:AuditExemptWithAccountantsReport 2022-05-17 2023-05-31 14112016 bus:FullAccounts 2022-05-17 2023-05-31 14112016 bus:SmallCompaniesRegimeForAccounts 2022-05-17 2023-05-31 14112016 bus:RegisteredOffice 2022-05-17 2023-05-31 14112016 bus:Director1 2022-05-17 2023-05-31 14112016 bus:Director2 2022-05-17 2023-05-31 14112016 bus:OrdinaryShareClass1 2022-05-17 2023-05-31 14112016 bus:PrivateLimitedCompanyLtd 2022-05-17 2023-05-31 14112016 core:RetainedEarningsAccumulatedLosses 2022-05-17 2023-05-31 14112016 core:ShareCapital 2022-05-17 2023-05-31 14112016 core:OtherRelatedParties 2022-05-17 2023-05-31 14112016 countries:England 2022-05-17 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14112016

ELBA PARTNERS LTD

Annual Report and Unaudited Financial Statements

for the Period from 17 May 2022 to 31 May 2023

 

ELBA PARTNERS LTD

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 9

 

ELBA PARTNERS LTD

Company Information

Directors

Marius Nicolae Pruteanu

Mr Florentin Radu Mironescu

Registered office

3 The Shrubberies
George Lane
London
E18 1BD

Accountants

Accounting 2 Trend Ltd
3 The Shrubberies
George Lane
London
E18 1BD

 

ELBA PARTNERS LTD

Directors' Report for the Period from 17 May 2022 to 31 May 2023

The directors present their report and the financial statements for the period from 17 May 2022 to 31 May 2023.

Incorporation

The company was incorporated on 17 May 2022.

Directors of the company

The directors who held office during the period were as follows:

Marius Nicolae Pruteanu (appointed 17 May 2022)

Mr Florentin Radu Mironescu (appointed 30 November 2022)

Principal activity

The principal activity of the company is that of an investment properties holder.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................
Marius Nicolae Pruteanu
Director

.........................................
Mr Florentin Radu Mironescu
Director

 

ELBA PARTNERS LTD

Profit and Loss Account for the Period from 17 May 2022 to 31 May 2023

Note

2023
£

Turnover

 

-

Gross profit/(loss)

 

-

Administrative expenses

 

(2,296)

Operating loss

 

(2,296)

Loss before tax

(2,296)

Loss for the financial period

 

(2,296)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

ELBA PARTNERS LTD

Statement of Comprehensive Income for the Period from 17 May 2022 to 31 May 2023

2023
£

Loss for the period

(2,296)

Total comprehensive income for the period

(2,296)

 

ELBA PARTNERS LTD

(Registration number: 14112016)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Investment property

4

203,837

Current assets

 

Debtors

5

260

Cash at bank and in hand

 

399

 

659

Creditors: Amounts falling due within one year

6

(206,692)

Net current liabilities

 

(206,033)

Net liabilities

 

(2,196)

Capital and reserves

 

Called up share capital

7

100

Retained earnings

(2,296)

Shareholders' deficit

 

(2,196)

For the financial period ending 31 May 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 period 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.

Approved and authorised by the Board on 17 April 2024 and signed on its behalf by:
 

.........................................
Marius Nicolae Pruteanu
Director

.........................................
Mr Florentin Radu Mironescu
Director

 

ELBA PARTNERS LTD

Statement of Changes in Equity for the Period from 17 May 2022 to 31 May 2023

Share capital
£

Retained earnings
£

Total
£

Loss for the period

-

(2,296)

(2,296)

New share capital subscribed

100

-

100

At 31 May 2023

100

(2,296)

(2,196)

 

ELBA PARTNERS LTD

Notes to the Unaudited Financial Statements for the Period from 17 May 2022 to 31 May 2023

1

General information

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

The address of its registered office is:
3 The Shrubberies
George Lane
London
E18 1BD
United Kingdom

These financial statements were authorised for issue by the Board on 17 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

ELBA PARTNERS LTD

Notes to the Unaudited Financial Statements for the Period from 17 May 2022 to 31 May 2023

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.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 period, was 2.

4

Investment properties

2023
£

Additions

203,837

At 31 May

203,837

There has been no valuation of investment property by an independent valuer. The directors consider that the value is at least as stated.

 

ELBA PARTNERS LTD

Notes to the Unaudited Financial Statements for the Period from 17 May 2022 to 31 May 2023

5

Debtors

Current

2023
£

Other debtors

260

6

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

420

Accruals and deferred income

1,000

Other creditors

205,272

206,692

7

Share capital

Allotted, called up and fully paid shares

 

2023

 

No.

£

Ordinary shares of £1 each

100

100

     

8

Related party transactions

Loans from related parties

2023

Other related parties
£

Total
£

Advanced

203,818

203,818

At end of period

203,818

203,818

Terms of loans from related parties

Shareholders' loan, no interest bearing, repayable on demand.