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REGISTERED NUMBER: 11372623 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Ejc Property Ltd

Ejc Property Ltd (Registered number: 11372623)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ejc Property Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs J Creelman
Mr P Creelman





REGISTERED OFFICE: Cliffe Hill House
22-26 Nottingham Road
Stapleford
Nottingham
NG9 8AA





REGISTERED NUMBER: 11372623 (England and Wales)





ACCOUNTANTS: Haines Watts
Cliffe Hill House
22-26 Nottingham Road
Stapleford
Nottingham
NG9 8AA

Ejc Property Ltd (Registered number: 11372623)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 115 154
Investment property 5 200,000 209,000
200,115 209,154

CURRENT ASSETS
Debtors 6 7,120 4,345
Cash at bank 2,072 4,889
9,192 9,234
CREDITORS
Amounts falling due within one year 7 177,443 148,221
NET CURRENT LIABILITIES (168,251 ) (138,987 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,864

70,167

CREDITORS
Amounts falling due after more than one
year

8

-

(37,017

)

PROVISIONS FOR LIABILITIES (2,430 ) (4,147 )
NET ASSETS 29,434 29,003

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 29,432 29,001
SHAREHOLDERS' FUNDS 29,434 29,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Ejc Property Ltd (Registered number: 11372623)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





Mr P Creelman - Director


Ejc Property Ltd (Registered number: 11372623)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Ejc Property Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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.

The directors have considered the fair value of the investment properties at the reporting date. This fair value has been calculated based on historic purchase price and review of trends in the property market. No professional valuation has been obtained. The methods and significant assumptions applied in determining the fair value of the investment property include consideration into; property market trends local to the investment property and recent property sales local to the investment property.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Ejc Property Ltd (Registered number: 11372623)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 619
DEPRECIATION
At 1 April 2023 465
Charge for year 39
At 31 March 2024 504
NET BOOK VALUE
At 31 March 2024 115
At 31 March 2023 154

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 209,000
Revaluations (9,000 )
At 31 March 2024 200,000
NET BOOK VALUE
At 31 March 2024 200,000
At 31 March 2023 209,000

An investment property was revalued by the directors at the balance sheet date at an open market value. No independent valuation has been performed. Assumptions applied are detailed in note 2 of the accounts.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2023 21,673
Valuation in 2024 (9,000 )
Cost 187,327
200,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 7,120 4,345

Ejc Property Ltd (Registered number: 11372623)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts - 3,733
Taxation and social security 1,818 1,436
Other creditors 175,625 143,052
177,443 148,221

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 37,017

Amounts falling due in more than five years:

Repayable by instalments
Mortgage - more 5 yr by instal - 22,086

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans - 40,750

The mortgage is secured on the leasehold property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary 1 2 2

11. RELATED PARTY DISCLOSURES

EJC Property Ltd has received a loan from Cellanet Solutions Ltd. Both companies are under common control. The amount owed to Cellanet Solutions Ltd at 31 March 2024 is £97,000. The loan is repayable on demand.