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REGISTERED NUMBER: 13214581 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2024

for

Essar PI Limited

Essar PI Limited (Registered number: 13214581)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Essar PI Limited

Company Information
for the Year Ended 28 February 2024







DIRECTOR: Samantha Rowles





SECRETARY: GetGround Secretary Limited





REGISTERED OFFICE: 1 Lyric Square
Hammersmith
London
W6 0NB





REGISTERED NUMBER: 13214581 (England and Wales)






Essar PI Limited (Registered number: 13214581)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,786 191
Investments 5 100 100
Investment property 6 1,124,276 966,395
1,129,162 966,686

CURRENT ASSETS
Debtors 7 1,600 975
Cash at bank 1,304 32,390
2,904 33,365
CREDITORS
Amounts falling due within one year 8 479,658 383,794
NET CURRENT LIABILITIES (476,754 ) (350,429 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

652,408

616,257

CREDITORS
Amounts falling due after more than
one year

9

(754,703

)

(646,719

)

PROVISIONS FOR LIABILITIES (13,643 ) (12,114 )
NET LIABILITIES (115,938 ) (42,576 )

Essar PI Limited (Registered number: 13214581)

Balance Sheet - continued
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 10 6,674 -
Retained earnings (122,622 ) (42,586 )
(115,938 ) (42,576 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 30 November 2024 and were signed by:





Samantha Rowles - Director


Essar PI Limited (Registered number: 13214581)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Essar PI 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Essar PI Limited (Registered number: 13214581)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 - 574 574
Additions 6,381 - 6,381
At 28 February 2024 6,381 574 6,955
DEPRECIATION
At 1 March 2023 - 383 383
Charge for year 1,595 191 1,786
At 28 February 2024 1,595 574 2,169
NET BOOK VALUE
At 28 February 2024 4,786 - 4,786
At 28 February 2023 - 191 191

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST
At 1 March 2023
and 28 February 2024 100
NET BOOK VALUE
At 28 February 2024 100
At 28 February 2023 100

Essar PI Limited (Registered number: 13214581)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 966,395
Additions 152,301
Disposals (2,660 )
Revaluations 8,240
At 28 February 2024 1,124,276
NET BOOK VALUE
At 28 February 2024 1,124,276
At 28 February 2023 966,395

Fair value at 28 February 2024 is represented by:
£   
Valuation in 2023 63,567
Valuation in 2024 8,240
Cost 1,052,469
1,124,276

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Other debtors 1,600 975

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Amounts owed to group undertakings 79 79
Other creditors 976 975
Directors' current accounts 478,603 381,433
Accruals and deferred income - 1,307
479,658 383,794

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
28.2.24 28.2.23
£    £   
Bank loans more 5 yrs non-inst 754,703 646,719

Essar PI Limited (Registered number: 13214581)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
28.2.24 28.2.23
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 754,703 646,719

10. RESERVES
Fair
value
reserve
£   
Revaluation in year 8,240
Reserve transfer (1,566 )

At 28 February 2024 6,674

11. ULTIMATE CONTROLLING PARTY

The controlling party is Samantha Rowles.