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REGISTERED NUMBER: 14031971 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 29 FEBRUARY 2024

FOR

EMARE 1 LTD

EMARE 1 LTD (REGISTERED NUMBER: 14031971)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


EMARE 1 LTD

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 29 FEBRUARY 2024







DIRECTORS: R Nehru
E Rashti





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 14031971 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

EMARE 1 LTD (REGISTERED NUMBER: 14031971)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,400,000 1,386,280

CURRENT ASSETS
Debtors 5 330 -
Cash at bank and in hand 5,804 16,926
6,134 16,926
CREDITORS
Amounts falling due within one year 6 409,543 1,492,305
NET CURRENT LIABILITIES (403,409 ) (1,475,379 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,996,591

(89,099

)

CREDITORS
Amounts falling due after more than one
year

7

(2,155,000

)

-

PROVISIONS FOR LIABILITIES (216,600 ) -
NET ASSETS/(LIABILITIES) 624,991 (89,099 )

CAPITAL AND RESERVES
Called up share capital 2 -
Non-distributable reserves 9 861,000 -
Retained earnings (236,011 ) (89,099 )
624,991 (89,099 )

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 30 November 2024 and were signed on its behalf by:





R Nehru - Director


EMARE 1 LTD (REGISTERED NUMBER: 14031971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Emare 1 Ltd 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.

Turnover
Turnover represents the net rent receivable in respect of the company's investment properties. Turnover is recognised in the period in which it is receivable.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

3. EMPLOYEES AND DIRECTORS

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

EMARE 1 LTD (REGISTERED NUMBER: 14031971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 29 FEBRUARY 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 1,386,280
Additions 865,720
Revaluations 1,148,000
At 29 February 2024 3,400,000
NET BOOK VALUE
At 29 February 2024 3,400,000
At 30 April 2023 1,386,280

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 1,148,000
Cost 2,252,000
3,400,000

Investment property was valued on a fair value basis on 9 January 2024 by Strutt & Parker .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 330 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 1,085,624
Amounts owed to group undertakings 407,623 405,000
Other creditors 1,920 1,681
409,543 1,492,305

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,155,000 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,155,000 -

The loan is secured by way of fixed and floating charge over the investment property held by the entity.

EMARE 1 LTD (REGISTERED NUMBER: 14031971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 29 FEBRUARY 2024

9. RESERVES
Non-distribut
reserves
£   
Transfer to non-distributable
reserves 861,000

At 29 February 2024 861,000

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.