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REGISTERED NUMBER: 11671118 (England and Wales)











Financial Statements

for the Year Ended 30 November 2023

for

ELMIY SOUTH LTD

ELMIY SOUTH LTD (REGISTERED NUMBER: 11671118)






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


ELMIY SOUTH LTD

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Mr S South





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 11671118 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

ELMIY SOUTH LTD (REGISTERED NUMBER: 11671118)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1 -
Investment property 5 2,159,594 2,159,594
2,159,595 2,159,594

CURRENT ASSETS
Debtors 6 688,079 733,300
Cash at bank 14,792 60,755
702,871 794,055
CREDITORS
Amounts falling due within one year 7 164,755 152,574
NET CURRENT ASSETS 538,116 641,481
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,697,711

2,801,075

CREDITORS
Amounts falling due after more than one year 8 (1,317,725 ) (1,317,850 )

PROVISIONS FOR LIABILITIES 11 (72,890 ) (63,764 )
NET ASSETS 1,307,096 1,419,461

CAPITAL AND RESERVES
Called up share capital 12 100 100
Revaluation reserve 218,671 218,671
Retained earnings 1,088,325 1,200,690
SHAREHOLDERS' FUNDS 1,307,096 1,419,461

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 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.

ELMIY SOUTH LTD (REGISTERED NUMBER: 11671118)

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 director and authorised for issue on 27 August 2024 and were signed by:





Mr S South - Director


ELMIY SOUTH LTD (REGISTERED NUMBER: 11671118)

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

1. STATUTORY INFORMATION

Elmiy South 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future and therefore used the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

ELMIY SOUTH LTD (REGISTERED NUMBER: 11671118)

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

4. FIXED ASSET INVESTMENTS
Other
investme
£   
COST
Additions 1
At 30 November 2023 1
NET BOOK VALUE
At 30 November 2023 1

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 2,159,594
NET BOOK VALUE
At 30 November 2023 2,159,594
At 30 November 2022 2,159,594

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2020 152,111
Valuation in 2022 139,450
Cost 1,868,033
2,159,594

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Amounts owed by group undertakings 612,879 733,300
Other debtors 75,200 -
688,079 733,300

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Tax 7,571 8,828
Other creditors 4,167 4,617
Directors' current accounts 148,229 136,249
Accruals and deferred income 4,788 2,880
164,755 152,574

ELMIY SOUTH LTD (REGISTERED NUMBER: 11671118)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 9) 1,317,725 1,317,850

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,317,725 1,317,850

9. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,317,725 1,317,850

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 1,317,725 1,317,850

The loan are secured against the asset of the company.

11. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax 72,890 63,764

Deferred
tax
£   
Balance at 1 December 2022 63,764
Provided during year 9,126
Balance at 30 November 2023 72,890

ELMIY SOUTH LTD (REGISTERED NUMBER: 11671118)

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

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
51 A Ordinary £1 51 51
1 B Ordinary £1 1 1
16 C Ordinary £1 16 16
16 D Ordinary £1 16 16
16 E Ordinary £1 16 16
100 100

13. RELATED PARTY DISCLOSURES

At the balance sheet date, included in debtors due within one year is £612,879 (2022: £733,300) due from Elmi Limited. The companies are related parties by virtue of the fact that they are under common control.

At the balance sheet date, the company owed an amount of £148,229 (2022: £136,249) to the director. The amount is interest free and repayable on demand.