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Registered number: 00548892














E M ABRAHAM LIMITED
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 DECEMBER 2023

 
E M ABRAHAM LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
E M ABRAHAM LIMITED
REGISTERED NUMBER:00548892

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
1,148,647
780,860

Current assets
  

Debtors: amounts falling due within one year
 5 
351,353
1,830

Cash at bank and in hand
  
423,416
1,042,750

  
774,769
1,044,580

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(21,580)
(21,580)

Total assets less current liabilities
  
 
 
1,901,836
 
 
1,803,860

Deferred tax
  
(34,246)
-

Net assets
  
1,867,590
1,803,860


Capital and reserves
  

Called up share capital 
 8 
50,000
50,000

Profit and loss account
 9 
1,817,590
1,753,860

  
1,867,590
1,803,860


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 comprehensive income 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 on 12 August 2024.


Eric M Abraham
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
E M ABRAHAM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

E M Abraham Limited is a private limited liability company incorporated in England and Wales, with its registered office address at 62-72 Tabernacle Street, London, EC2A 4LR.
The principal activity of the company is that of an investment company.
The company's functional and presentational currency is £ sterling.

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

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Statement of financial position date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the year.
Investments at amortized cost are measured at initial recognition minus the principal repayments, plus the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. The gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance.

 
2.3

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.4

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.

 
2.5

Creditors

Short term creditors are measured at the transaction price.

 
2.6

Interest income

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

Page 2

 
E M ABRAHAM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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 reporting 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 Statement of Financial Position 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Valuation


At 1 January 2023
780,860
-
780,860


Additions
293,023
150,225
443,248


Disposals
(143,852)
-
(143,852)


Revaluations
68,391
-
68,391



At 31 December 2023

998,422
150,225
1,148,647






Net book value



At 31 December 2023
998,422
150,225
1,148,647



At 31 December 2022
780,860
-
780,860

Page 3

 
E M ABRAHAM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£

Other debtors
351,353
1,830



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other creditors
20,380
20,380

Accruals and deferred income
1,200
1,200

21,580
21,580



7.


Deferred taxation




2023


£






At beginning of year
-


Charged to profit or loss
34,246



At end of year
34,246

The deferred taxation balance is made up as follows:

2023
2022
£
£


Fair value movements
34,246
-


8.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



50,000 (2022 - 50,000) Ordinary shares of £1 each
50,000
50,000


Page 4

 
E M ABRAHAM LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Reserves

Profit & loss account

Profit and loss account reserves include non-distributable fair value adjustments, net of deferred tax, amounting to £367,003 (2022 - £332,858).

 
Page 5