Registered number
11066955
Emrock Properties Ltd
Filleted Accounts
30 November 2023
Emrock Properties Ltd
Registered number: 11066955
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 645,818 645,962
Current assets
Debtors 4 972 27,772
Cash at bank and in hand 35,343 10,273
36,315 38,045
Creditors: amounts falling due within one year 5 (279,454) (271,896)
Net current liabilities (243,139) (233,851)
Total assets less current liabilities 402,679 412,111
Creditors: amounts falling due after more than one year 6 (392,454) (388,132)
Provisions for liabilities (Notes 7) (7,568) (7,568)
Net assets 2,657 16,411
Capital and reserves
Called up share capital 100 100
Fair value reserve 7 32,265 32,265
Profit and loss account (29,708) (15,954)
Shareholders' funds 2,657 16,411
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Naiyan Piyush Patel
Director
Approved by the board on 20 August 2024
Emrock Properties Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 645,000 1,484 646,484
At 30 November 2023 645,000 1,484 646,484
Depreciation
At 1 December 2022 - 522 522
Charge for the year - 144 144
At 30 November 2023 - 666 666
Net book value
At 30 November 2023 645,000 818 645,818
At 30 November 2022 645,000 962 645,962
4 Debtors 2023 2022
£ £
Other debtors 972 27,772
5 Creditors: amounts falling due within one year 2023 2022
£ £
Directors loan account 278,534 271,176
Other creditors 920 720
279,454 271,896
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 392,454 388,132
7 Fair value reserve 2023 2022
The provision for liability of £7,568 relates to deferred corporation tax in relation to the fair value revaluation of investment property.
£ £
At 1 December 2022 32,265 32,265
At 30 November 2023 32,265 32,265
8 Other information
Emrock Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
44 Shetland Crescent
Rochford
Essex
SS4 3FJ
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