Registered number
11191950
Elhollydais Limited
Unaudited Filleted Accounts
31 March 2024
Elhollydais Limited
Company Information
Director
Mr G Brown
Accountants
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Registered office
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
Registered number
11191950
Elhollydais Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Elhollydais Limited for the year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Elhollydais Limited for the year ended 31 March 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/ en/ members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Elhollydais Limited, as a body, in accordance with the terms of our engagement letter dated 29 March 2023. Our work has been undertaken solely to prepare for your approval the accounts of Elhollydais Limited and state those matters that we have agreed to state to the Board of Directors of Elhollydais Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elhollydais Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Elhollydais Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Elhollydais Limited. You consider that Elhollydais Limited 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 accounts of Elhollydais Limited. 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 accounts.
Keith Graham
Chartered Accountants
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
28 August 2024
Elhollydais Limited
Registered number: 11191950
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 760,474 760,543
Current assets
Debtors 4 52 52
Cash at bank and in hand 645 1,117
697 1,169
Creditors: amounts falling due within one year 5 (263,892) (267,148)
Net current liabilities (263,195) (265,979)
Total assets less current liabilities 497,279 494,564
Creditors: amounts falling due after more than one year 6 (475,040) (465,910)
Provisions for liabilities (6,410) (6,410)
Net assets 15,829 22,244
Capital and reserves
Called up share capital 100 100
Revaluation reserve 8 19,231 19,231
Profit and loss account (3,502) 2,913
Shareholders' funds 15,829 22,244
The director is 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 director acknowledges his 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.
Mr G Brown
Director
Approved by the board on 28 August 2024
Elhollydais Limited
Notes to the Accounts
for the year ended 31 March 2024
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 represents the value of residential letting and rental services provided to tenants. Turnover is recognised on a prorated basis for the year on all properties.
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:
Domestic items 25% Straight line
Investment properties
Paragraph 16.7 of FRS 102 requires investment properties to be measured at fair value at each reporting date. All increases and decreases in value are taken to the profit and loss in the year. Information regarding the valuation method can be seen in note 3.
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment properties Domestic items Total
£ £ £
Cost
At 1 April 2023 760,000 3,806 763,806
Additions - 175 175
Disposals - (360) (360)
At 31 March 2024 760,000 3,621 763,621
Depreciation
At 1 April 2023 - 3,263 3,263
Charge for the year - 244 244
On disposals - (360) (360)
At 31 March 2024 - 3,147 3,147
Net book value
At 31 March 2024 760,000 474 760,474
At 31 March 2023 760,000 543 760,543
Freehold land and buildings: 2024 2023
£ £
Historical cost 734,359 734,359
Cumulative depreciation based on historical cost - -
734,359 734,359
4 Debtors 2024 2023
£ £
Other debtors 52 52
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 1,130
Other creditors 263,892 266,018
263,892 267,148
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 475,040 465,910
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 475,040 465,910
Secured bank loans 475,040 465,910
Loan received from bank for the purchase of investment property. A fixed and floating charge is held over the assets of the company and a fixed charge over the investment property held by the company.
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 19,231 41,731
Loss on revaluation of land and buildings - (30,000)
Deferred taxation arising on the revaluation of land and buildings - 7,500
At 31 March 2024 19,231 19,231
9 Other information
Elhollydais Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite 2 Wesley Chambers
Queens Road
Aldershot
Hampshire
GU11 3JD
The financial statements are presented in Sterling, which is the functional currency of the company.
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