Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falseProperty trading activities11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09856296 2022-12-01 2023-11-30 09856296 2021-12-01 2022-11-30 09856296 2023-11-30 09856296 2022-11-30 09856296 c:Director1 2022-12-01 2023-11-30 09856296 c:RegisteredOffice 2022-12-01 2023-11-30 09856296 d:CurrentFinancialInstruments 2023-11-30 09856296 d:CurrentFinancialInstruments 2022-11-30 09856296 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 09856296 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 09856296 d:ShareCapital 2023-11-30 09856296 d:ShareCapital 2022-11-30 09856296 d:RetainedEarningsAccumulatedLosses 2023-11-30 09856296 d:RetainedEarningsAccumulatedLosses 2022-11-30 09856296 c:OrdinaryShareClass1 2022-12-01 2023-11-30 09856296 c:OrdinaryShareClass1 2023-11-30 09856296 c:OrdinaryShareClass1 2022-11-30 09856296 c:FRS102 2022-12-01 2023-11-30 09856296 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 09856296 c:FullAccounts 2022-12-01 2023-11-30 09856296 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 09856296 2 2022-12-01 2023-11-30 09856296 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 09856296












EEH PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

 

EEH PROPERTIES LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2
Notes to the financial statements
 
3 - 7

 

EEH PROPERTIES LTD
 
COMPANY INFORMATION


Director
S A Green 




Registered number
09856296



Registered office
14 Berkeley Street
Mayfair

London

W1J 8DX




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:09856296
EEH PROPERTIES LTD

BALANCE SHEET
AS AT 30 NOVEMBER 2023

As restated
2023
2022
Note
£
£

  

Current assets
  

Stocks
  
4,809,131
4,767,137

Debtors: amounts falling due within one year
 5 
22,999
21,416

Cash at bank and in hand
  
1,667
641

  
4,833,797
4,789,194

Creditors: amounts falling due within one year
 6 
(6,651,677)
(5,989,202)

  

Net liabilities
  
(1,817,880)
(1,200,008)


Capital and reserves
  

Called up share capital 
 7 
20
2

Profit and loss account
  
(1,817,900)
(1,200,010)

Total deficit
  
(1,817,880)
(1,200,008)


The director considers 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 director acknowledges his 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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by sole director.  




S A Green
Director

Date: 30 July 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 

EEH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

EEH Properties Ltd is a private company limited by shares incorporated in England and Wales. The address of  its registered office is 14 Berkeley Street, Mayfair, London, W1J 8DX.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. The company's commercial loan is past its agreed term. The director knows of no reason why the company will not be able to receive adequate sources of funding in order to refinance the loan if required. Accordingly, he continues to adopt the going concern basis in preparing the financial statements.

 
2.3

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is
recognised immediately in the profit and loss account.

Stocks include an appropriate proportion of the finance costs.


2.4

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Page 3

 

EEH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)




Financial instruments (continued)

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, commercial and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Page 4

 

EEH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)




Financial instruments (continued)

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.5

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

  
2.6

Share capital

Ordinary shares are classified as equity.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

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.

 
2.9

Borrowing costs

All borrowing costs are recognised in the profit and loss account in the year in which they are incurred, unless they directly relate to the development of the company's stock.

Page 5

 

EEH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 -1).


4.


Stocks

As restated
2023
2022
£
£

Property stock
4,809,131
4,767,137


Included within stocks are finance costs of £1,893,162 (2022: £1,893,162).

Page 6

 

EEH PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
3,152
2,211

Prepayments and accrued income
19,847
19,205

22,999
21,416



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Commercial loans
2,202,810
2,202,643

Other loans
2,448,007
1,713,789

Trade creditors
65,351
41,305

Other creditors
1,088,887
1,335,011

Accruals and deferred income
846,622
696,454

6,651,677
5,989,202


Other loans consist of loans received from the company's shareholders.
Secured loans
Commercial loans includes £2,202,810 (2022:£2,202,643) which is secured by way of a fixed charge over the company's property stock and a floating charge over the assets of the company.


7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2,000 (2022 -200) Ordinary shares of £0.01 each
20
2


During the year, 1,800 Ordinary shares with a nominal value of £0.01 were issued at par value.


8.


Prior year adjustment

The prior year adjustment is in relation to interest previously being capitalised to stock in the prior year when the entity was not active in developing the property stock. The effect of the adjustment is to reduce stock by £422,162 and to increase net liabilities and the total deficit by £422,162 as at 30 November 2022. Interest payable was increased by £422,162, resulting in the loss for the year ended 30 November 2022 increasing by £422,162 to a loss after taxation of £597,976.
 
Page 7