Company registration number 14006920 (England and Wales)
ECP PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
ECP PROPERTY LIMITED
CONTENTS
Page
Company information
1
Balance sheet
3 - 4
Notes to the financial statements
2 - 7
ECP PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
ECP Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Players Court, Oldland Common, Bristol, BS30 9ED.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
ECP PROPERTY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,981
2,790
Investment properties
5
696,305
389,309
698,286
392,099
Current assets
Debtors
6
4,155
2,539
Cash at bank and in hand
22,581
3,469
26,736
6,008
Creditors: amounts falling due within one year
7
(141,530)
(137,297)
Net current liabilities
(114,794)
(131,289)
Total assets less current liabilities
583,492
260,810
Creditors: amounts falling due after more than one year
8
(586,068)
(264,037)
Net liabilities
(2,576)
(3,227)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(2,676)
(3,327)
Total equity
(2,576)
(3,227)
ECP PROPERTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 4 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 July 2024 and are signed on its behalf by:
Mr E Player
Director
Company Registration No. 14006920
ECP PROPERTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
ECP PROPERTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 6 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
3,721
Disposals
(199)
At 31 March 2024
3,522
Depreciation and impairment
At 1 April 2023
931
Depreciation charged in the year
660
Eliminated in respect of disposals
(50)
At 31 March 2024
1,541
Carrying amount
At 31 March 2024
1,981
At 31 March 2023
2,790
5
Investment property
2024
£
Fair value
At 1 April 2023
389,309
Additions
306,996
At 31 March 2024
696,305
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,155
2,539
ECP PROPERTY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,688
10,688
Other creditors
130,842
126,609
141,530
137,297
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
586,068
264,037