IRIS Accounts Production v24.3.0.553 09880036 Board of Directors 1.3.23 29.2.24 29.2.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh098800362023-02-28098800362024-02-29098800362023-03-012024-02-29098800362022-02-28098800362022-03-012023-02-28098800362023-02-2809880036ns15:EnglandWales2023-03-012024-02-2909880036ns14:PoundSterling2023-03-012024-02-2909880036ns10:Director12023-03-012024-02-2909880036ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2909880036ns10:SmallEntities2023-03-012024-02-2909880036ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2909880036ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2909880036ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2909880036ns10:FullAccounts2023-03-012024-02-2909880036ns10:Director22023-03-012024-02-2909880036ns10:RegisteredOffice2023-03-012024-02-2909880036ns5:CurrentFinancialInstruments2024-02-2909880036ns5:CurrentFinancialInstruments2023-02-2809880036ns5:ShareCapital2024-02-2909880036ns5:ShareCapital2023-02-2809880036ns5:FurtherSpecificReserve3ComponentTotalEquity2024-02-2909880036ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2809880036ns5:RetainedEarningsAccumulatedLosses2024-02-2909880036ns5:RetainedEarningsAccumulatedLosses2023-02-2809880036ns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-28
REGISTERED NUMBER: 09880036 (England and Wales)
























Financial Statements

for the Year Ended 29 February 2024

for

ELK Property Limited

ELK Property Limited (Registered number: 09880036)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELK Property Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: L Barnes
Mrs S Barnes





REGISTERED OFFICE: 140 Rayne Road
Braintree
Essex
CM7 2QR





REGISTERED NUMBER: 09880036 (England and Wales)





ACCOUNTANTS: Baverstocks Group Limited
140 Rayne Road
Braintree
Essex
CM7 2QR

ELK Property Limited (Registered number: 09880036)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 140,000 140,000

CURRENT ASSETS
Debtors 5 802 802
Cash at bank 2,080 8,064
2,882 8,866
CREDITORS
Amounts falling due within one year 6 101,771 111,936
NET CURRENT LIABILITIES (98,889 ) (103,070 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

41,111

36,930

PROVISIONS FOR LIABILITIES 2,555 2,555
NET ASSETS 38,556 34,375

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 7 10,894 10,894
Retained earnings 27,562 23,381
SHAREHOLDERS' FUNDS 38,556 34,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

ELK Property Limited (Registered number: 09880036)

Balance Sheet - continued
29 February 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by:





L Barnes - Director


ELK Property Limited (Registered number: 09880036)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

ELK Property Limited 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 140,000
NET BOOK VALUE
At 29 February 2024 140,000
At 28 February 2023 140,000

The investment property is shown at its fair value at the Balance Sheet date as valued by the director, L Barnes.

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2017 126,551
Valuation in 2018 3,449
Valuation in 2020 10,000
140,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 802 802

ELK Property Limited (Registered number: 09880036)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 965 1,172
Directors' current accounts 99,924 109,924
Accrued expenses 882 840
101,771 111,936

7. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 10,894

8. RELATED PARTY DISCLOSURES

The directors initially lent the company £129,924 to purchase the investment property. The loan amounted to £99,924 at the balance sheet date and is shown as a creditor due within one year in the accounts. No interest is charged on this loan.