2022-11-302023-11-292023-11-29false10518098EGM PROPERTY HOLDINGS 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EGM PROPERTY HOLDINGS LTD

Registered Number
10518098
(England and Wales)

Unaudited Financial Statements for the Year ended
29 November 2023

EGM PROPERTY HOLDINGS LTD
Company Information
for the year from 30 November 2022 to 29 November 2023

Director

AL-SAFI, Rizq Da'Ud

Registered Address

C/O Redstone Accountancy 253 Monton Road
Eccles
Manchester
M30 9PS

Registered Number

10518098 (England and Wales)
EGM PROPERTY HOLDINGS LTD
Balance Sheet as at
29 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets31,385,0001,305,000
1,385,0001,305,000
Current assets
Debtors50,00010,077
Cash at bank and on hand9921,948
50,99212,025
Creditors amounts falling due within one year4(27,797)(2,250)
Net current assets (liabilities)23,1959,775
Total assets less current liabilities1,408,1951,314,775
Creditors amounts falling due after one year5(831,375)(834,568)
Provisions for liabilities6(101,650)(72,202)
Net assets475,170408,005
Capital and reserves
Called up share capital7575
Revaluation reserve535,000-
Profit and loss account(59,905)407,930
Shareholders' funds475,170408,005
The financial statements were approved and authorised for issue by the Director on 28 August 2024, and are signed on its behalf by:
AL-SAFI, Rizq Da'Ud
Director
Registered Company No. 10518098
EGM PROPERTY HOLDINGS LTD
Notes to the Financial Statements
for the year ended 29 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured 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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 30 November 221,305,0001,305,000
Revaluations80,00080,000
At 29 November 231,385,0001,385,000
Net book value
At 29 November 231,385,0001,385,000
At 29 November 221,305,0001,305,000
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables24,718-
Other creditors1,8781,050
Accrued liabilities and deferred income1,2011,200
Total27,7972,250
5.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts831,375834,568
Total831,375834,568
6.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)101,65072,202
Total101,65072,202