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REGISTERED NUMBER: 09251011 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

EJWA LIMITED

EJWA LIMITED (REGISTERED NUMBER: 09251011)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EJWA LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: T Spink
E A A Spink





REGISTERED OFFICE: The Red House
87 Earl Richards Road South
Exeter
EX2 6AP





REGISTERED NUMBER: 09251011 (England and Wales)





ACCOUNTANTS: Fawcetts LLP
Chartered Accountants
Windover House
St. Ann Street
Salisbury
SP1 2DR

EJWA LIMITED (REGISTERED NUMBER: 09251011)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,613 1,313
Investment property 5 2,850,000 2,850,000
2,851,613 2,851,313

CURRENT ASSETS
Debtors 6 913 4,263
Cash at bank 1,215 3,752
2,128 8,015
CREDITORS
Amounts falling due within one year 7 565,964 508,682
NET CURRENT LIABILITIES (563,836 ) (500,667 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,287,777 2,350,646

CREDITORS
Amounts falling due after more than one
year

8

(1,366,507

)

(1,424,200

)

PROVISIONS FOR LIABILITIES (226,212 ) (226,212 )
NET ASSETS 695,058 700,234

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve - Investment property 11 678,632 678,632
Retained earnings 11 16,326 21,502
SHAREHOLDERS' FUNDS 695,058 700,234

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

EJWA LIMITED (REGISTERED NUMBER: 09251011)

BALANCE SHEET - continued
31 OCTOBER 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 Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





T Spink - Director


EJWA LIMITED (REGISTERED NUMBER: 09251011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

EJWA 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.

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.

The company is dependent on the support of directors, who have loaned the company £247,569 (2022: £298,363). The directors have indicated that they do not intend to withdraw the existing finance within the next twelve months unless sufficient funds become available. The financial statements have therefore been prepared on a going concern basis and do not include any adjustments which might be necessary were the loan to be withdrawn.

The financial statements are presented in Sterling (£) which is the functional currency of the company.

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

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for turnover and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

Revaluation of investment property
The company carries its investment property at fair value. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. The method and significant assumptions used to determine the fair value of investment property are further explained in Note 6.

Turnover
Turnover represents rental receipts, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

EJWA LIMITED (REGISTERED NUMBER: 09251011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Investment property
Investment property whose fair value can be measured reliably without undue cost or effort is measured at fair value at each reporting date. Any fair value gains arising are not realised profits and therefore are transferred to a separately designated non-distributable fair value reserve. Any loss arising from revaluation is also recognised in the fair value reserve unless it represents a loss below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in profit or loss for the year.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Debtors
Debtors are measured at their recoverable amount.

Creditors and provisions
Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 3 ) .

EJWA LIMITED (REGISTERED NUMBER: 09251011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 7,087
Additions 1,429
At 31 October 2023 8,516
DEPRECIATION
At 1 November 2022 5,774
Charge for year 1,129
At 31 October 2023 6,903
NET BOOK VALUE
At 31 October 2023 1,613
At 31 October 2022 1,313

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 2,850,000
NET BOOK VALUE
At 31 October 2023 2,850,000
At 31 October 2022 2,850,000

The fair value (open market basis) of investment property was assessed by the directors and valued at £2,850,000 on 31 October 2023.

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2023 2,850,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 1,945,156 1,945,156

EJWA LIMITED (REGISTERED NUMBER: 09251011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 913 4,263

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,830 10,819
Taxation and social security - 480
Other creditors 536,134 497,383
565,964 508,682

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,366,507 1,424,200

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,366,507 1,424,200

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,396,337 1,435,019

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 A £1 4 4
24 B £1 24 24
24 C £1 24 24
24 D £1 24 24
24 E £1 24 24
100 100

The Ordinary A, B, C, D and E shares each carry full voting rights and rank pari passu in all respects except in relation to income.

EJWA LIMITED (REGISTERED NUMBER: 09251011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


11. RESERVES
Fair
value
reserve
Retained - Investment
earnings property Totals
£    £    £   

At 1 November 2022 21,502 678,632 700,134
Deficit for the year (176 ) (176 )
Dividends (5,000 ) (5,000 )
At 31 October 2023 16,326 678,632 694,958

Retained earnings

This reserve is made up of cumulative profit and loss net of distributions to owners.

Fair value reserve: Investment property

This reserve is used to record gains in the fair value of investment properties and losses to the extent that such a loss relates to a previous gain on the same asset. It is also used to record any corresponding deferred tax (charge)/credit on fair value changes in investment property.

12. RELATED PARTY DISCLOSURES

Creditors due within one year include £247,569 (2022: £298,363) which is owed to the directors of the company.