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REGISTERED NUMBER: 08296179 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Emmanuel Properties Ltd

Emmanuel Properties Ltd (Registered number: 08296179)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Emmanuel Properties Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Miss S C Jones
Mrs D C Jones





SECRETARY: Miss S C Jones





REGISTERED OFFICE: Adeilad St. David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP





REGISTERED NUMBER: 08296179 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Emmanuel Properties Ltd (Registered number: 08296179)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 700,819 701,566
Investment property 5 244,000 221,000
944,819 922,566

CURRENT ASSETS
Debtors 6 5,476 7,399
Cash at bank 1,042 2,925
6,518 10,324
CREDITORS
Amounts falling due within one year 7 718,723 590,426
NET CURRENT LIABILITIES (712,205 ) (580,102 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

232,614

342,464

CREDITORS
Amounts falling due after more than one
year

8

(254,767

)

(348,825

)

PROVISIONS FOR LIABILITIES (7,832 ) (12,032 )
NET LIABILITIES (29,985 ) (18,393 )

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 52,790 33,210
Retained earnings (82,875 ) (51,703 )
SHAREHOLDERS' FUNDS (29,985 ) (18,393 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Emmanuel Properties Ltd (Registered number: 08296179)

Balance Sheet - continued
30 November 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





Miss S C Jones - Director


Emmanuel Properties Ltd (Registered number: 08296179)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Emmanuel Properties 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.

The directors have considered the basis for the preparation of the financial statements and consider the going concern basis to be the most suitable. The directors will continue to give financial support to the company for twelve months from the date of signing these financial statements. Therefore, the accounts have been prepared on the assumption that the company is thus able to carry on its business as a going concern.

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.

Freehold property - 2% on cost
Improvements to property - 2% on cost
Fixtures & fittings - 20% reducing balance

Fixed assets are stated at their cost prices less accumulated depreciation and less any amounts recognised in respect of any impairment

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.

Investment properties are initially recognised at cost. At the year-end, each property is revalued to fair value in order to reflect the market price of each investment property.

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


Emmanuel Properties Ltd (Registered number: 08296179)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 693,102 35,829 728,931
Additions - 18,012 18,012
At 30 November 2023 693,102 53,841 746,943
DEPRECIATION
At 1 December 2022 13,862 13,503 27,365
Charge for year 13,862 4,897 18,759
At 30 November 2023 27,724 18,400 46,124
NET BOOK VALUE
At 30 November 2023 665,378 35,441 700,819
At 30 November 2022 679,240 22,326 701,566

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 221,000
Revaluations 23,000
At 30 November 2023 244,000
NET BOOK VALUE
At 30 November 2023 244,000
At 30 November 2022 221,000

Emmanuel Properties Ltd (Registered number: 08296179)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. INVESTMENT PROPERTY - continued

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2022 41,000
Valuation in 2023 23,000
Cost 180,000
244,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 3,011 -
Other debtors 2,465 7,399
5,476 7,399

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 15,063 23,916
Other creditors 703,660 566,510
718,723 590,426

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 254,767 348,825

9. SECURED DEBTS

The following mortgage charges have been recorded in the company's name at Companies House:

Charge code: 0829 6179 0001
Re: Gwenallt, Stryd y Plas, Nefyn, Pwllheli

Floating charge that covers all the property or undertaking of the company.

Charge code: 0829 6179 0002
Re: Gwenallt, Stryd y Plas, Nefyn, Pwllheli

Buy to let mortgage in regards to the above property.

Emmanuel Properties Ltd (Registered number: 08296179)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

10. RESERVES
Fair
value
reserve
£   
At 1 December 2022 33,210
Reserve transfer 19,580

At 30 November 2023 52,790

11. RELATED PARTY DISCLOSURES

During the year the directors accumulated funds within an in-credit director's loan account, which at the year end amounted to a total of £691,634 (2022 - £560,665).

No dividends were paid to the director during the year.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Emmanuel Properties Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Emmanuel Properties Ltd for the year ended 30 November 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Emmanuel Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Emmanuel Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Emmanuel Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emmanuel Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Emmanuel Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Emmanuel Properties Ltd. You consider that Emmanuel Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Emmanuel Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP


Date: .............................................