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REGISTERED NUMBER: 04840441 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD

ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD (REGISTERED NUMBER: 04840441)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 January 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD

COMPANY INFORMATION
for the year ended 31 January 2024







DIRECTORS: Mr E J Altman
Mr L R Young





SECRETARY: Mr E J Altman





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 04840441 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD (REGISTERED NUMBER: 04840441)

ABRIDGED BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 453,633 453,633
Investment property 5 17,334,612 17,237,606
17,788,245 17,691,239

CURRENT ASSETS
Stocks 475,000 475,000
Debtors 1,995,876 1,725,603
Cash at bank 102,148 95,662
2,573,024 2,296,265
CREDITORS
Amounts falling due within one year 411,616 598,763
NET CURRENT ASSETS 2,161,408 1,697,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,949,653

19,388,741

CREDITORS
Amounts falling due after more than one year 6 (8,330,530 ) (7,724,474 )

PROVISIONS FOR LIABILITIES (1,589,577 ) (1,633,993 )
NET ASSETS 10,029,546 10,030,274

ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD (REGISTERED NUMBER: 04840441)

ABRIDGED BALANCE SHEET - continued
31 January 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 4,768,732 6,471,107
Retained earnings 5,260,714 3,559,067
SHAREHOLDERS' FUNDS 10,029,546 10,030,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 January 2024 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 23 October 2024 and were signed on its behalf by:





Mr L R Young - Director


ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD (REGISTERED NUMBER: 04840441)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 January 2024

1. STATUTORY INFORMATION

Elliot Leigh Property Investments 2 Ltd 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.

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.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the entity and the revenue can be reliably measured. Revenue represents rent receivable and letting commission net of value added tax, which is recognised in the period which it is earned. Amounts invoiced in excess of the amounts earned during the period are recognised as deferred income in creditors.

Investment properties
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Stocks
Stocks are valued at lower of cost and estimated selling price less costs to complete and sell.

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.

ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD (REGISTERED NUMBER: 04840441)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Fixed asset investments
Fixed asset investments are recognised at costs less provision for impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 February 2023
and 31 January 2024 453,633
NET BOOK VALUE
At 31 January 2024 453,633
At 31 January 2023 453,633

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 February 2023 17,237,606
Additions 326,006
Revaluations (229,000 )
At 31 January 2024 17,334,612
NET BOOK VALUE
At 31 January 2024 17,334,612
At 31 January 2023 17,237,606

ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD (REGISTERED NUMBER: 04840441)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

5. INVESTMENT PROPERTY - continued

In the opinion of the directors, investment property is stated at fair value at the balance sheet date.

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Mortgages 6,340,693 5,177,904

Repayable by instalments
Mortgages 1,278,774 896,548

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Mortgages 193,420 388,816

Amounts falling due between one and two years:
Mortgages 165,950 404,946

Amounts falling due between two and five years:
Mortgages 545,113 1,245,076

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Mortgages 6,340,693 5,177,904

Repayable by instalments
Mortgages 1,278,774 896,548

ELLIOT LEIGH PROPERTY INVESTMENTS 2 LTD (REGISTERED NUMBER: 04840441)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 January 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 8,523,950 8,113,289

The mortgages are secured by way of fixed and floating charges over the properties held by the company.

9. 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.

At the balance sheet date, the company was owed £792,921 (2023: £456,041) by Elliot Leigh Property Management Limited and £67,335 (2023: £113,670) by Elliot Leigh TLC Limited, both companies connected by virtue of common control.

At the balance sheet date, the company owed £20,271 (2023: nil) to Elliot Leigh Property Investment Limited, a company connected by virtue of common control.