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REGISTERED NUMBER: 13212637 (England and Wales)















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: Mr G M Williams





REGISTERED OFFICE: 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 13212637 (England and Wales)





ACCOUNTANTS: Xeinadin
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 4,202 6,110
Investment property 5 289,625 142,182
293,827 148,292

CURRENT ASSETS
Cash at bank 8,912 -

CREDITORS
Amounts falling due within one year 6 (171,247 ) (194,473 )
NET CURRENT LIABILITIES (162,335 ) (194,473 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

131,492

(46,181

)

CREDITORS
Amounts falling due after more than one
year

7

(203,949

)

(13,883

)
NET LIABILITIES (72,457 ) (60,064 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 21,896 -
Retained earnings (94,453 ) (60,164 )
SHAREHOLDERS' FUNDS (72,457 ) (60,064 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29th November 2024 and were signed by:





Mr G M Williams - Director


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
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.

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 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st March 2023
and 29th February 2024 2,836 480 6,100 9,416
DEPRECIATION
At 1st March 2023 1,134 240 1,932 3,306
Charge for year 568 120 1,220 1,908
At 29th February 2024 1,702 360 3,152 5,214
NET BOOK VALUE
At 29th February 2024 1,134 120 2,948 4,202
At 28th February 2023 1,702 240 4,168 6,110

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st March 2023 142,182
Additions 125,547
Revaluations 21,896
At 29th February 2024 289,625
NET BOOK VALUE
At 29th February 2024 289,625
At 28th February 2023 142,182

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 4,900 4,900
Trade creditors - 1
Other creditors 166,347 189,572
171,247 194,473

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 203,949 13,883

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 21,896