IRIS Accounts Production v24.3.0.553 11906518 director 1.4.23 31.3.24 31.3.24 false true false false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh119065182023-03-31119065182024-03-31119065182023-04-012024-03-31119065182022-03-31119065182022-04-012023-03-31119065182023-03-3111906518ns15:EnglandWales2023-04-012024-03-3111906518ns14:PoundSterling2023-04-012024-03-3111906518ns10:Director12023-04-012024-03-3111906518ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3111906518ns10:SmallEntities2023-04-012024-03-3111906518ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3111906518ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3111906518ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3111906518ns10:FullAccounts2023-04-012024-03-311190651812023-04-012024-03-3111906518ns10:OrdinaryShareClass12023-04-012024-03-3111906518ns10:RegisteredOffice2023-04-012024-03-3111906518ns5:CurrentFinancialInstruments2024-03-3111906518ns5:CurrentFinancialInstruments2023-03-3111906518ns5:Non-currentFinancialInstruments2024-03-3111906518ns5:Non-currentFinancialInstruments2023-03-3111906518ns5:ShareCapital2024-03-3111906518ns5:ShareCapital2023-03-3111906518ns5:RetainedEarningsAccumulatedLosses2024-03-3111906518ns5:RetainedEarningsAccumulatedLosses2023-03-3111906518ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3111906518ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-012024-03-3111906518ns5:FurnitureFittings2023-04-012024-03-3111906518ns5:ComputerEquipment2023-04-012024-03-3111906518ns5:IntangibleAssetsOtherThanGoodwill2023-03-3111906518ns5:IntangibleAssetsOtherThanGoodwill2024-03-3111906518ns5:IntangibleAssetsOtherThanGoodwill2023-03-3111906518ns5:FurnitureFittings2023-03-3111906518ns5:ComputerEquipment2023-03-3111906518ns5:FurnitureFittings2024-03-3111906518ns5:ComputerEquipment2024-03-3111906518ns5:FurnitureFittings2023-03-3111906518ns5:ComputerEquipment2023-03-3111906518ns5:WithinOneYearns5:CurrentFinancialInstruments2024-03-3111906518ns5:WithinOneYearns5:CurrentFinancialInstruments2023-03-3111906518ns5:Secured2024-03-3111906518ns5:Secured2023-03-3111906518ns10:OrdinaryShareClass12024-03-31
REGISTERED NUMBER: 11906518 (England and Wales)




















Financial Statements

for the Year Ended 31 March 2024

for

ELITE UK INVESTMENT PROPERTIES LTD

ELITE UK INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 11906518)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELITE UK INVESTMENT PROPERTIES LTD

Company Information
for the Year Ended 31 March 2024







DIRECTOR: S Papadakis





REGISTERED OFFICE: 143 Station Road
Hampton
Middlesex
TW12 2AL





REGISTERED NUMBER: 11906518 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

ELITE UK INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 11906518)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 4,851
Tangible assets 5 - 5,716
Investment property 6 452,118 452,118
452,118 462,685

CURRENT ASSETS
Debtors 7 4,579 7,639
Cash at bank 4,104 38,488
8,683 46,127
CREDITORS
Amounts falling due within one year 8 (178,157 ) (221,910 )
NET CURRENT LIABILITIES (169,474 ) (175,783 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

282,644

286,902

CREDITORS
Amounts falling due after more than one
year

9

(345,780

)

(345,780

)

PROVISIONS FOR LIABILITIES (5,638 ) (4,640 )
NET LIABILITIES (68,774 ) (63,518 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (68,874 ) (63,618 )
SHAREHOLDERS' FUNDS (68,774 ) (63,518 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

ELITE UK INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 11906518)

Balance Sheet - continued
31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 November 2024 and were signed by:





S Papadakis - Director


ELITE UK INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 11906518)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Business Know How are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - Straight line over 3 years
Computer equipment - Straight line over 3 years

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

ELITE UK INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 11906518)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 24,256
AMORTISATION
At 1 April 2023 19,405
Charge for year 4,851
At 31 March 2024 24,256
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 4,851

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 16,358 1,317 17,675
DEPRECIATION
At 1 April 2023 11,081 878 11,959
Charge for year 5,277 439 5,716
At 31 March 2024 16,358 1,317 17,675
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 5,277 439 5,716

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 452,118
NET BOOK VALUE
At 31 March 2024 452,118
At 31 March 2023 452,118

ELITE UK INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 11906518)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 132
Valuation in 2022 1,788
Valuation in 2023 22,500
Cost 427,698
452,118

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 4,579 7,639

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 178,157 221,910

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 345,780 345,780

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 345,780 345,780

The mortgages provided by Hampshire Trust Bank and Together Commercial Finance Limited are secured against the freehold interests in the properties known as 37 King Edward Road, 289 Cemetery Road and 123 Bucknall New Road, by way of a fixed and floating charge and a negative pledge.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES

Included in Reserves is an amount of £29,676 less deferred tax of £5,638 which relates to the revaluation of the properties and is not distributable.

ELITE UK INVESTMENT PROPERTIES LTD (REGISTERED NUMBER: 11906518)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

13. GOING CONCERN

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.