Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30false2022-12-0122truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07088735 2022-12-01 2023-11-30 07088735 2023-11-30 07088735 2021-12-01 2022-11-30 07088735 2022-11-30 07088735 c:Director1 2022-12-01 2023-11-30 07088735 d:Buildings 2023-11-30 07088735 d:Buildings 2022-11-30 07088735 d:CurrentFinancialInstruments 2023-11-30 07088735 d:CurrentFinancialInstruments 2022-11-30 07088735 d:Non-currentFinancialInstruments 2023-11-30 07088735 d:Non-currentFinancialInstruments 2022-11-30 07088735 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 07088735 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 07088735 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 07088735 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 07088735 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 07088735 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 07088735 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 07088735 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 07088735 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 07088735 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-11-30 07088735 d:UKTax 2022-12-01 2023-11-30 07088735 d:UKTax 2021-12-01 2022-11-30 07088735 d:ShareCapital 2023-11-30 07088735 d:ShareCapital 2022-11-30 07088735 d:RevaluationReserve 2023-11-30 07088735 d:RevaluationReserve 2022-11-30 07088735 d:RetainedEarningsAccumulatedLosses 2023-11-30 07088735 d:RetainedEarningsAccumulatedLosses 2022-11-30 07088735 c:FRS102 2022-12-01 2023-11-30 07088735 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 07088735 c:FullAccounts 2022-12-01 2023-11-30 07088735 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 07088735 5 2022-12-01 2023-11-30 07088735 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure
Registered number: 07088735


EMAAR CONSTRUCTION LIMITED








UNAUDITED

FILLETED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2023
These draft accounts may be subject to material change before finalisation. This information is provided in confidence and is only to be used by the addressee. Wellers and its employees can accept no responsibility (financial or otherwise) in connection with the information provided. If necessary, please contact the relevant office for further clarification.

 
EMAAR CONSTRUCTION LIMITED
REGISTERED NUMBER: 07088735

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,718,989
1,718,988

  
1,718,989
1,718,988

Current assets
  

Debtors: amounts falling due after more than one year
 6 
-
(2)

Debtors: amounts falling due within one year
 6 
32,552
17,458

Cash at bank and in hand
 7 
50,681
55,535

  
83,233
72,991

Creditors: amounts falling due within one year
 8 
(17,421)
(13,807)

Net current assets
  
 
 
65,812
 
 
59,184

Total assets less current liabilities
  
1,784,801
1,778,172

Creditors: amounts falling due after more than one year
 9 
(1,221,009)
(1,224,165)

Provisions for liabilities
  

Deferred tax
  
(79,747)
(79,751)

  
 
 
(79,747)
 
 
(79,751)

Net assets
  
484,045
474,256


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
239,242
239,243

Profit and loss account
  
244,802
235,012

  
484,045
474,256


Page 1

 
EMAAR CONSTRUCTION LIMITED
REGISTERED NUMBER: 07088735
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
T Khuja
Director

Date: 23 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
EMAAR CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Emaar Construction Limited is a private limited Company registered in England and Wales. The principal activity of the company is carried out at 154 Cowley Road, Oxford, OX4 1UE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
EMAAR CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
EMAAR CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
EMAAR CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
2,296
2,912


2,296
2,912


Total current tax
2,296
2,912

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of 19% (2022 - 19%).



5.


Investment property





Freehold property

£



Cost or valuation


At 1 December 2022
1,718,989



At 30 November 2023

1,718,989






Net book value



At 30 November 2023
1,718,989



At 30 November 2022
1,718,989


6.


Debtors

2023
2022
£
£


Other debtors
32,552
17,458

32,552
17,458


Page 6

 
EMAAR CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
50,681
55,535

50,681
55,535



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,159
3,076

Trade creditors
4,500
-

Corporation tax
5,262
2,912

Accruals and deferred income
4,500
7,819

17,421
13,807



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,221,009
1,224,165

1,221,009
1,224,165


£1,200,000 of the above bank loans are secured against the freehold property 38 Middleton Road, Banbury. The entitled entity is Arbuthnot Latham & Co. Limited. The remainder of the loans are Government Bounce Back loans due after more than one year.

Page 7

 
EMAAR CONSTRUCTION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
3,159
3,080


3,159
3,080

Amounts falling due 1-2 years

Bank loans
3,238
3,155


3,238
3,155

Amounts falling due 2-5 years

Bank loans
1,206,723
1,209,960


1,206,723
1,209,960

Amounts falling due after more than 5 years

Bank loans
11,049
11,049

11,049
11,049

1,224,169
1,227,244



11.


Related party transactions

Included within other debtors is an amount owed by Mr T Khuja of £32,552 (2022: £17,454). This amount was repaid post year end.


12.


Controlling party

The company is controlled by Mr T Khuja by virtue of his 100% shareholding.

 
Page 8