REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
EJW Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
EJW Properties Limited |
EJW Properties Limited (Registered number: 09944364) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
EJW Properties Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Adeilad St David's Building |
Stryd Lombard Street |
Porthmadog |
Gwynedd |
LL49 9AP |
EJW Properties Limited (Registered number: 09944364) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserve | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
EJW Properties Limited (Registered number: 09944364) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the director and authorised for issue on |
EJW Properties Limited (Registered number: 09944364) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
EJW Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Having considered their expectations for the next 12 months, the Directors have concluded that the Company is a going concern and the financial statements have been prepared as such. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
EJW Properties Limited (Registered number: 09944364) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Revaluations | (134,863 | ) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2018 | 144,844 |
Valuation in 2019 | 115,000 |
Valuation in 2020 | 273,000 |
Valuation in 2021 | 130,000 |
Valuation in 2022 | 210,000 |
Valuation in 2024 | (134,863 | ) |
Cost | 1,132,019 |
1,870,000 |
If the properties had not been revalued they would have been included at the following historical cost: |
31.3.24 | 31.3.23 |
£ | £ |
Cost | 1,132,019 | 1,130,159 |
The property was valued on an open market basis on 31 March 2024 by the director . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
The Other debtors as stated above comprises of £150, owed from Mentro Developments Limited, in which Mr M E Williams is a Director. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
EJW Properties Limited (Registered number: 09944364) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
The Other Creditors as stated above comprises of £130,646.16 (2023: £108,760.40) owed to Elis Williams Construction Ltd, in which Mr M E Williams is a Director. |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 742,741 | 588,827 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.24 | 31.3.23 |
£ | £ |
Bank loans |
The following mortgage charges have been registered on the company's record on Companies House: |
1. 4th August 2023 - Paragon Bank PLC - 9 Truro Road, Liverpool |
2. 3rd August 2023 - Paragon Bank PLC - 49 Ashbourne Road, Liverpool |
3. 3rd August 2023 - Paragon Bank PLC - 40 Heathfield Road, Liverpool |
4. 16th July 2020 - Paragon Bank PLC - 18 Balm Street Liverpool |
5. 21st February 2020 - Landbay Partners Limited - 49 Ashbourne Road. |
6. 18th February 2020 - Paragon Bank PLC - 44 Fernwood Road. |
7. 28th August 2018 - Shawbrook Bank Limited - 49 Ashbourne Road, Liverpool |
8. 18th April 2018 - Nottingham Building Society - 350 & 350A, St Marys Road, Liverpool |
9. 13th December 2017 - Paragon Mortgages (2010) Limited & Paragon Bank PLC - Floating charge covers all the property or undertaking of the company. |
10. 13th December 2017 - Paragon Bank PLC - 9 Truro Road, Liverpool |
11. 6th December 2017 - Shawbrook Bank Limited - 40 Heathfield Road, Wavetree, Liverpool. |
9. | PROVISIONS FOR LIABILITIES |
31.3.24 | 31.3.23 |
£ | £ |
Deferred tax | 140,216 | 165,840 |
EJW Properties Limited (Registered number: 09944364) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
9. | PROVISIONS FOR LIABILITIES - continued |
Deferred |
tax |
£ |
Balance at 1 April 2023 |
Provided during year | ( |
) |
Balance at 31 March 2024 |
10. | RESERVES |
Non-distributable |
reserve |
£ |
At 1 April 2023 |
Revaluation | (134,863 | ) |
Deferred tax | 25,624 |
At 31 March 2024 |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023: |
31.3.24 | 31.3.23 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
12. | RELATED PARTY DISCLOSURES |
No dividends were allocated during the year. |