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REGISTERED NUMBER: 01860317 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

ELGON (ENFIELD) LIMITED

ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ELGON (ENFIELD) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: A J Lakhani
J J Lakhani





SECRETARY: A J Lakhani





REGISTERED OFFICE: Eagle House
291 High Street
Enfield
Middlesex
EN3 4DN





REGISTERED NUMBER: 01860317 (England and Wales)





ACCOUNTANTS: Ashfords Partnership LLP
114 - 116 Goodmayes Road
Ilford
Essex
IG3 9UZ

ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

ABRIDGED BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 45,996 4,956
Investment property 6 15,732,338 15,198,696
15,778,334 15,203,652

CURRENT ASSETS
Stocks 160,306 126,212
Debtors 1,104,449 593,017
Cash at bank and in hand 1,273,204 1,438,568
2,537,959 2,157,797
CREDITORS
Amounts falling due within one year 1,647,592 1,311,083
NET CURRENT ASSETS 890,367 846,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,668,701

16,050,366

CREDITORS
Amounts falling due after more than one year 7 (1,960,000 ) (2,367,987 )

PROVISIONS FOR LIABILITIES (9,436 ) -
NET ASSETS 14,699,265 13,682,379

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 47,158 47,158
Retained earnings 14,652,007 13,635,121
SHAREHOLDERS' FUNDS 14,699,265 13,682,379

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

ABRIDGED BALANCE SHEET - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 August 2024 and were signed on its behalf by:




A J Lakhani - Director



J J Lakhani - Director


ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Elgon (Enfield) Limited 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on cost and 15% on reducing balance

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 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.

Going concern
The accounts have been prepared on going concern basis which assumes that the company will continue to receive adequate financial assistance from Directors, Bankers and other creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022
and 31 October 2023 477,069
AMORTISATION
At 1 November 2022
and 31 October 2023 477,069
NET BOOK VALUE

At 31 October 2023 -
At 31 October 2022 -

ELGON (ENFIELD) LIMITED (REGISTERED NUMBER: 01860317)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 110,663
Additions 49,394
At 31 October 2023 160,057
DEPRECIATION
At 1 November 2022 105,707
Charge for year 8,354
At 31 October 2023 114,061
NET BOOK VALUE
At 31 October 2023 45,996
At 31 October 2022 4,956

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 15,198,696
Additions 533,642
At 31 October 2023 15,732,338
NET BOOK VALUE
At 31 October 2023 15,732,338
At 31 October 2022 15,198,696

The directors have not included the properties at their market value as, in their opinion, the expense of valuing those properties would not be justifiable. No depreciation is provided on those properties.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
31.10.23 31.10.22
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 760,000 1,167,987

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 2,260,000 2,667,987