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COMPANY REGISTRATION NUMBER: 06424243
Ellis Freehold Property Limited
Filleted Unaudited Financial Statements
30 November 2023
Ellis Freehold Property Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
2,996,064
2,996,064
Current assets
Cash at bank and in hand
1,592
30,026
Creditors: amounts falling due within one year
6
245,019
274,089
---------
---------
Net current liabilities
243,427
244,063
------------
------------
Total assets less current liabilities
2,752,637
2,752,001
Creditors: amounts falling due after more than one year
7
1,904,796
1,912,425
------------
------------
Net assets
847,841
839,576
------------
------------
Capital and reserves
Called up share capital
8
1,000
1,000
Share premium account
845,343
845,343
Profit and loss account
1,498
( 6,767)
---------
---------
Shareholders funds
847,841
839,576
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Ellis Freehold Property Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Dr C Ellis
Director
Company registration number: 06424243
Ellis Freehold Property Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sheen Rd Chiropractic, 126 Sheen Rd, Richmond, Surrey, TW9 1UR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Tax on profit/(loss)
Major components of tax expense
Period from
Year to
1 Dec 21 to
30 Nov 23
29 Nov 22
£
£
Current tax:
UK current tax expense
1,440
-------
----
Tax on profit/(loss)
1,440
-------
----
Reconciliation of tax expense
The tax assessed on the profit/(loss) on ordinary activities for the year is lower than (2022: higher than) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).
Period from
Year to
1 Dec 21 to
30 Nov 23
29 Nov 22
£
£
Profit/(loss) on ordinary activities before taxation
9,705
( 6,767)
-------
-------
Profit/(loss) on ordinary activities by rate of tax
1,845
( 1,286)
Effect of expenses not deductible for tax purposes
881
Unused tax losses
( 405)
405
-------
-------
Tax on profit/(loss)
1,440
-------
-------
5. Investments
Other investments other than loans
£
Cost
At 30 November 2022 and 30 November 2023
2,996,064
------------
Impairment
At 30 November 2022 and 30 November 2023
------------
Carrying amount
At 30 November 2023
2,996,064
------------
At 29 November 2022
2,996,064
------------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
37,350
30,000
Corporation tax
1,440
Other creditors
206,229
244,089
---------
---------
245,019
274,089
---------
---------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
1,904,796
1,912,425
------------
------------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
Ordinary A shares of £ 0.01 each
99,840
998
99,840
998
Ordinary B shares of £ 0.01 each
10
Ordinary C shares of £ 0.01 each
10
Ordinary B - Q shares of £ 0.01 each
160
2
---------
-------
--------
-------
100,000
1,000
99,861
1,000
---------
-------
--------
-------