REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
FOR |
ERICSONS PROPERTIES LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024 |
FOR |
ERICSONS PROPERTIES LIMITED |
ERICSONS PROPERTIES LIMITED (REGISTERED NUMBER: 13212637) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 29th February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ERICSONS PROPERTIES LIMITED |
COMPANY INFORMATION |
for the Year Ended 29th February 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
ERICSONS PROPERTIES LIMITED (REGISTERED NUMBER: 13212637) |
BALANCE SHEET |
29th February 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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. |
ERICSONS PROPERTIES LIMITED (REGISTERED NUMBER: 13212637) |
BALANCE SHEET - continued |
29th February 2024 |
The financial statements were approved by the director and authorised for issue on |
ERICSONS PROPERTIES LIMITED (REGISTERED NUMBER: 13212637) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 29th February 2024 |
1. | STATUTORY INFORMATION |
Ericsons Properties Limited is a private company limited by share capital, registered in England and Wales, registration number 13212637. The address of the registered office is 100 Barbirolli Square, Manchester, M2 3BD. The address of the principle place of business is 50 Chelford Drive, Swinton, Greater Manchester, M27 9HU. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
At the reporting date, the company's liabilities exceed its assets. The company has received assurance from the directors that they will continue to give financial support to the company for twelve months from the date of approval of these financial statements. On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover principally consists of rental income from properties. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on plant and equipment is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
Fixtures and fittings | - 25% straight line |
Plant and machinery | - 20% straight line |
Motor vehicles | - 20% straight line |
At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
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. |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current 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. |
ERICSONS PROPERTIES LIMITED (REGISTERED NUMBER: 13212637) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29th February 2024 |
2. | ACCOUNTING POLICIES - continued |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1st March 2023 |
and 29th February 2024 |
DEPRECIATION |
At 1st March 2023 |
Charge for year |
At 29th February 2024 |
NET BOOK VALUE |
At 29th February 2024 |
At 28th February 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st March 2023 |
Additions |
Revaluations | 21,896 |
At 29th February 2024 |
NET BOOK VALUE |
At 29th February 2024 |
At 28th February 2023 |
Fair value at 29th February 2024 is represented by: |
£ |
Cost | 289,625 |
ERICSONS PROPERTIES LIMITED (REGISTERED NUMBER: 13212637) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29th February 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 194,965 | - |
8. | CALLED UP SHARE CAPITAL |
Number: | Class: | Nominal value: | 2024 | 2023 |
£ | £ |
81 | Ordinary A | £1 | 81 | 12 |
10 | Ordinary B | £1 | 10 | 7 |
3 | Ordinary C | £1 | 3 | 9 |
2 | Ordinary D | £1 | 2 | 24 |
3 | Ordinary E | £1 | 3 | 24 |
1 | Ordinary F | £1 | 1 | 24 |
100 | 100 |
9. | RESERVES |
Revaluation |
reserve |
£ |
Transfer | 21,896 |
At 29th February 2024 |