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REGISTERED NUMBER: 08428145 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

89 TO 95 ELGIN AVENUE LIMITED

89 TO 95 ELGIN AVENUE LIMITED (REGISTERED NUMBER: 08428145)

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


89 TO 95 ELGIN AVENUE LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: G P Gay





SECRETARY: N J Gay





REGISTERED OFFICE: 30 Harbord Street
London
SW6 6PJ





REGISTERED NUMBER: 08428145 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
16 Davy Court
Castle Mound Way
Rugby, CV23 0UZ
Magma Audit LLP is part
Of the Dains Group

89 TO 95 ELGIN AVENUE LIMITED (REGISTERED NUMBER: 08428145)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 571 -
Investments 5 308,325 308,325
Investment property 6 829,083 453,064
1,137,979 761,389

CURRENT ASSETS
Debtors 7 220,555 250,055
Cash at bank and in hand 10,080 2,904
230,635 252,959
CREDITORS
Amounts falling due within one year 8 (563,362 ) (299,049 )
NET CURRENT LIABILITIES (332,727 ) (46,090 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

805,252

715,299

CREDITORS
Amounts falling due after more than one
year

9

(690,662

)

(600,002

)
NET ASSETS 114,590 115,297

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 120,520 120,520
Retained earnings (6,030 ) (5,323 )
SHAREHOLDERS' FUNDS 114,590 115,297

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 director acknowledges his 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.

89 TO 95 ELGIN AVENUE LIMITED (REGISTERED NUMBER: 08428145)

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





G P Gay - Director


89 TO 95 ELGIN AVENUE LIMITED (REGISTERED NUMBER: 08428145)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

89 to 95 Elgin Avenue Limited is a private company, limited by share capital, registered in England and Wales. The company's registered number is 08428145 and the registered office address is 30 Harbord Street, London, SW6 6PJ.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is Sterling (£) and figures are rounded to the nearest £1.

Turnover
Turnover is measured as the fair value of the consideration received or receivable inclusive of valued added tax. 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.

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 - 25% Straight Line

Investment property
Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is recognised in the profit and loss account for the year.

This is in accordance with Section 16 Investment Properties of FRS 102, which unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Financial instruments
(i) 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.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors 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.

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


89 TO 95 ELGIN AVENUE LIMITED (REGISTERED NUMBER: 08428145)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change 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.

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.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 762
At 31 March 2024 762
DEPRECIATION
Charge for year 191
At 31 March 2024 191
NET BOOK VALUE
At 31 March 2024 571

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2023
and 31 March 2024 308,325
NET BOOK VALUE
At 31 March 2024 308,325
At 31 March 2023 308,325

89 TO 95 ELGIN AVENUE LIMITED (REGISTERED NUMBER: 08428145)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 453,064
Additions 376,019
At 31 March 2024 829,083
NET BOOK VALUE
At 31 March 2024 829,083
At 31 March 2023 453,064

The open market value of the investment properties were considered by the directors at 31 March 2024. They believe the values stated in the accounts are not materially different from the carrying value.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 220,555 250,055

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,119 10,648
Taxation and social security 3,727 3,727
Other creditors 549,516 284,674
563,362 299,049

Within other creditors is a loan balance of £200,000 which is repayable on demand. Interest is charged on this loan at 2% per annum.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 15,662 25,002
Other creditors 675,000 575,000
690,662 600,002

Other creditors due over one year consist of multiple loan balances which are due for repayment in over 12 months. Interest is charged on these loans at between 2% and 5% per annum.

89 TO 95 ELGIN AVENUE LIMITED (REGISTERED NUMBER: 08428145)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
G P Gay
Balance outstanding at start of year 50,055 -
Amounts advanced 47,000 50,055
Amounts repaid (88,500 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,555 50,055

The loan is interest fee and repayable on demand.