2023-04-012024-03-312024-03-31false12480360EXCELSIOR PROPERTIES 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EXCELSIOR PROPERTIES LTD

Registered Number
12480360
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

EXCELSIOR PROPERTIES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

RIANGANAND, Aswin

Registered Address

47 Hope Street
Flat 804 Kent Building
London
E14 0QG

Registered Number

12480360 (England and Wales)
EXCELSIOR PROPERTIES LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors79613
Cash at bank and on hand1,02210,805
1,81810,818
Creditors amounts falling due within one year4(1,808)(4,845)
Net current assets (liabilities)105,973
Total assets less current liabilities105,973
Net assets105,973
Capital and reserves
Called up share capital1010
Profit and loss account-5,963
Shareholders' funds105,973
The financial statements were approved and authorised for issue by the Director on 28 October 2024, and are signed on its behalf by:
RIANGANAND, Aswin
Director
Registered Company No. 12480360
EXCELSIOR PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
Excelsior Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 10216072. The registered office is Flat 804 Kent Building, 47 Hope Street, E14 0QG, London.
Statement of compliance
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. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Basis of preparation
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).
Going concern
At 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 foreseeable future.
Turnover policy
The turnover represents income earned from property project management services. This includes fees for overseeing and managing various phases of property development projects, such as planning, construction, and completion.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Current taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Tangible fixed assets and depreciation
Tangiblefixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 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. 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:
Stocks and work in progress
Stock solely represents property project under management in progress. This is stated at cost. Cost is assigned by specific identification and includes the cost of acquisition, and development and borrowing costs during development. When development is completed, borrowing costs and other holding charges are reimbursed by the client.
Financial instruments
The company has elected to apply the provisions of Section 11‘Basic Financial Instruments’ to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables250-
Amounts owed to related parties1,1662,561
Taxation and social security-1,723
Other creditors-312
Accrued liabilities and deferred income392249
Total1,8084,845