Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 11819404 E O Opeche S O Opeche Mr & Mrs Opeche true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11819404 2023-02-28 11819404 2024-02-28 11819404 2023-03-01 2024-02-28 11819404 frs-core:CurrentFinancialInstruments 2024-02-28 11819404 frs-core:Non-currentFinancialInstruments 2024-02-28 11819404 frs-core:RevaluationReserve 2023-02-28 11819404 frs-core:RevaluationReserve 2024-02-28 11819404 frs-core:ShareCapital 2024-02-28 11819404 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 11819404 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 11819404 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 11819404 frs-bus:SmallEntities 2023-03-01 2024-02-28 11819404 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 11819404 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 11819404 1 2023-03-01 2024-02-28 11819404 frs-bus:Director1 2023-03-01 2024-02-28 11819404 frs-bus:Director2 2023-03-01 2024-02-28 11819404 frs-countries:EnglandWales 2023-03-01 2024-02-28 11819404 2022-02-28 11819404 2023-02-28 11819404 2022-03-01 2023-02-28 11819404 frs-core:CurrentFinancialInstruments 2023-02-28 11819404 frs-core:Non-currentFinancialInstruments 2023-02-28 11819404 frs-core:RevaluationReserve 2023-02-28 11819404 frs-core:ShareCapital 2023-02-28 11819404 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11819404
Elisam Estates Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11819404
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investment Properties 4 299,000 299,000
299,000 299,000
CURRENT ASSETS
Cash at bank and in hand 15,336 8,758
15,336 8,758
Creditors: Amounts Falling Due Within One Year 5 (77,235 ) (76,034 )
NET CURRENT ASSETS (LIABILITIES) (61,899 ) (67,276 )
TOTAL ASSETS LESS CURRENT LIABILITIES 237,101 231,724
Creditors: Amounts Falling Due After More Than One Year 6 (175,995 ) (175,995 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (10,717 ) (10,717 )
NET ASSETS 50,389 45,012
CAPITAL AND RESERVES
Called up share capital 7 2 2
Revaluation reserve 8 56,406 56,406
Profit and Loss Account (6,019 ) (11,396 )
SHAREHOLDERS' FUNDS 50,389 45,012
Page 1
Page 2
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
E O Opeche
Director
4 November 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Elisam Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11819404 . The registered office is 20 Surig Road, Canvey Island, Essex, SS8 9EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Investment Property
2024
£
Fair Value
As at 1 March 2023 and 28 February 2024 299,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 242,594 242,594
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Page 4
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 1,201 -
Accruals and deferred income 800 800
Directors' loan accounts 75,234 75,234
77,235 76,034
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 175,995 175,995
The company has an existing a 5 year fixed 3.49% interest only mortgage loan of £175,995. The loan is repayable in full at the end of the 25 year mortgage term. The loan is secured on the value of the property at Chevers Pawen, Basildon.
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
8. Reserves
Revaluation Reserve
£
As at 1 March 2023 56,406
As at 28 February 2024 56,406
9. Related Party Transactions
At the balance sheet date, the company owed the directors £75,234 (2023: £75,234)
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr & Mrs Opeche by virtue of ownership of 100% of the issued share capital in the company.
Page 4