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REGISTERED NUMBER: 06317370 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

EDMONPROP LIMITED

EDMONPROP LIMITED (REGISTERED NUMBER: 06317370)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 31 DECEMBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


EDMONPROP LIMITED (REGISTERED NUMBER: 06317370)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 480,000 480,000

CURRENT ASSETS
Debtors 5 92,677 99,190
Cash at bank 453 544
93,130 99,734
CREDITORS
Amounts falling due within one year 6 18,716 18,643
NET CURRENT ASSETS 74,414 81,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

554,414

561,091

CREDITORS
Amounts falling due after more than one
year

7

(349,552

)

(364,812

)

PROVISIONS FOR LIABILITIES 9 (43,979 ) (34,383 )
NET ASSETS 160,883 161,896

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 10 131,935 141,531
Retained earnings 27,948 19,365
160,883 161,896

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 September 2024 and were signed by:




Mr S T Savage - Director


EDMONPROP LIMITED (REGISTERED NUMBER: 06317370)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

Edmonprop Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06317370

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the director is 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 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.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents rent receivable during the period in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment property, which is property held to earn rentals, 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 date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.

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 statement of financial position date.


EDMONPROP LIMITED (REGISTERED NUMBER: 06317370)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 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 statement of financial position 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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 480,000
NET BOOK VALUE
At 31 December 2023 480,000
At 31 December 2022 480,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2008 54,412
Valuation in 2013 (38,498 )
Valuation in 2015 80,000
Valuation in 2016 80,000
Cost 304,086
480,000

Investment property has been recorded at the following historical cost:

2023 2022
£ £
Cost 304,086 304,086

The director consider the market value of the investment properties to be as stated in the financial statements at the year end.

EDMONPROP LIMITED (REGISTERED NUMBER: 06317370)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 86,475 87,455
Other debtors 6,202 11,735
92,677 99,190

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,336 1,500
Trade creditors 3,125 4,016
Amounts owed to group undertakings 7,700 7,700
Other creditors 6,555 5,427
18,716 18,643

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 345,016 345,276
Other creditors 4,536 19,536
349,552 364,812

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 336,650 336,650

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 336,650 336,650

Bank loan is secured by way of fixed and floating charge on the investment property of the company and contains a negative pledge.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Other timing differences 43,979 34,383

Deferred
tax
£   
Balance at 1 January 2023 34,383
Provided during year 9,596
Balance at 31 December 2023 43,979

Due to a change in the corporation tax rate from 19% to 25%, the company has adjusted its deferred tax provision to reflect the increased rate.

EDMONPROP LIMITED (REGISTERED NUMBER: 06317370)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 31 DECEMBER 2023

10. RESERVES
Fair
value
reserve
£   
At 1 January 2023 141,531
Movement in the year (9,596 )

At 31 December 2023 131,935

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in other debtors less than one year is an amount of £2,100 (2022: £9,000) due from a connected company with common directorship. The loans remain interest free and payable on demand.

Included in other creditors less than one year is an amount of £2,458 (2022: £1,958) due to connected companies with common directorship. Also included in other creditors less than one year is an amount of £360 (2022: £360) due to a shareholder. The loans remain interest free and payable on demand.