Registered number
11673408
E16 Developments Limited
Filleted Accounts
30 November 2023
E16 Developments Limited
Registered number: 11673408
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,249,972 1,249,972
Current assets
Cash at bank and in hand 19,252 27,578
Creditors: amounts falling due within one year 4 (17,422) (13,444)
Net current assets 1,830 14,134
Total assets less current liabilities 1,251,802 1,264,106
Creditors: amounts falling due after more than one year 5 (730,243) (739,742)
Net assets 521,559 524,364
Capital and reserves
Called up share capital 3 (3)
Revaluation reserve 6 705,732 705,732
Profit and loss account (184,176) (181,365)
Shareholders' funds 521,559 524,364
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.
T Woodham
Director
Approved by the board on 30 August 2024
E16 Developments Limited
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 for rents receivable.
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:
Freehold buildings over 50 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 December 2022 1,249,972
At 30 November 2023 1,249,972
Depreciation
At 30 November 2023 -
Net book value
At 30 November 2023 1,249,972
At 30 November 2022 1,249,972
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 2,977 2,977
Other creditors 14,445 10,467
17,422 13,444
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 610,993 612,301
Other creditors 119,250 127,441
730,243 739,742
6 Revaluation reserve 2023 2022
£ £
At 1 December 2022 705,732 705,732
At 30 November 2023 705,732 705,732
7 Other information
E16 Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
110 Nottage Crescent
Braintree
Essex
CM7 2TX
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