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Registered Number: 09972337
England and Wales

 

 

 

ELATE ROSE LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Directors Ms N S Asher
Mr R B Asher
Registered Number 09972337
Registered Office Unit 2 Sherbrook Enterprise
100 Sherbrook Road, Daybrook
Nottingham
NG5 6AB
Accountants Equinox Accounting Limited
Unit 2 Sherbrook Road
Daybrook
Nottingham
Nottinghamshire
NG5 6AB
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 475,693    475,549 
475,693    475,549 
Current assets      
Debtors 4 2,044    1,169 
Cash at bank and in hand 4,714    6,925 
6,758    8,094 
Creditors: amount falling due within one year 5 (350,927)   (356,429)
Net current assets (344,169)   (348,335)
 
Total assets less current liabilities 131,524    127,214 
Provisions for liabilities 6 (1,858)   (1,861)
Net assets 129,666    125,353 
 

Capital and reserves
     
Called up share capital 7 100    100 
Profit and loss account 129,566    125,253 
Shareholders' funds 129,666    125,353 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 08 October 2024 and were signed on its behalf by:


-------------------------------
Ms N S Asher
Director
2
General Information
Elate Rose Limited is a private company, limited by shares, registered in England and Wales, registration number 09972337, registration address Unit 2 Sherbrook Enterprise, 100 Sherbrook Road, Daybrook, Nottingham, NG5 6AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Revenue Recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Computer Equipment 33.3% Straight Line
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and 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.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Investment properties   Total
  £   £   £   £
At 01 February 2023   899    475,000    475,899 
Additions 175    319      494 
Disposals      
At 31 January 2024 175    1,218    475,000    476,393 
Depreciation
At 01 February 2023   350      350 
Charge for year 15    335      350 
On disposals      
At 31 January 2024 15    685      700 
Net book values
Closing balance as at 31 January 2024 160    533    475,000    475,693 
Opening balance as at 01 February 2023   549    475,000    475,549 

Tangible fixed assets included at valuation would have been included on an historical cost basis at £450,544 (2023: £450,544). The investment properties are revalued annually by a professional and the directors on an open market value basis, and consider themselves able to do so given their expertise and knowledge of the investment property market.

4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 2,044    1,169 
2,044    1,169 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 1,813   
Corporation Tax 1,916    2,251 
PAYE & Social Security 158    90 
Accrued Expenses 3,079    3,238 
Other Creditors 600    600 
Directors' Current Accounts 343,361    350,250 
350,927    356,429 

6.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 1,858    1,861 
1,858    1,861 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

8.

Related Party Transactions

During the year a loan existed between the company and the directors.
At the balance sheet date the amount owed to the directors amounted to £343,361 (2023: £350,250).
3