Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-011falseNo description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10683816 2023-04-01 2024-03-31 10683816 2022-04-01 2023-03-31 10683816 2024-03-31 10683816 2023-03-31 10683816 c:Director1 2023-04-01 2024-03-31 10683816 d:FreeholdInvestmentProperty 2024-03-31 10683816 d:FreeholdInvestmentProperty 2023-03-31 10683816 d:CurrentFinancialInstruments 2024-03-31 10683816 d:CurrentFinancialInstruments 2023-03-31 10683816 d:Non-currentFinancialInstruments 2024-03-31 10683816 d:Non-currentFinancialInstruments 2023-03-31 10683816 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10683816 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10683816 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10683816 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10683816 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 10683816 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 10683816 d:ShareCapital 2024-03-31 10683816 d:ShareCapital 2023-03-31 10683816 d:InvestmentPropertiesRevaluationReserve 2024-03-31 10683816 d:InvestmentPropertiesRevaluationReserve 2023-03-31 10683816 d:RetainedEarningsAccumulatedLosses 2024-03-31 10683816 d:RetainedEarningsAccumulatedLosses 2023-03-31 10683816 d:OtherDeferredTax 2024-03-31 10683816 d:OtherDeferredTax 2023-03-31 10683816 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10683816 c:OrdinaryShareClass1 2024-03-31 10683816 c:OrdinaryShareClass1 2023-03-31 10683816 c:FRS102 2023-04-01 2024-03-31 10683816 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10683816 c:FullAccounts 2023-04-01 2024-03-31 10683816 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10683816 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10683816









ERENCAN PROPERTIES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ERENCAN PROPERTIES LTD
REGISTERED NUMBER: 10683816

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,005,355
1,005,355

  
1,005,355
1,005,355

Current assets
  

Debtors: amounts falling due within one year
 5 
-
195

Cash at bank and in hand
 6 
2,682
2,255

  
2,682
2,450

Creditors: amounts falling due within one year
 7 
(222,004)
(219,618)

Net current liabilities
  
 
 
(219,322)
 
 
(217,168)

Total assets less current liabilities
  
786,033
788,187

Creditors: amounts falling due after more than one year
 8 
(719,775)
(719,694)

Provisions for liabilities
  

Deferred tax
  
(16,025)
(16,025)

  
 
 
(16,025)
 
 
(16,025)

Net assets
  
50,233
52,468


Capital and reserves
  

Called up share capital 
 11 
100
100

Investment property reserve
  
48,075
48,075

Profit and loss account
  
2,058
4,293

  
50,233
52,468


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
ERENCAN PROPERTIES LTD
REGISTERED NUMBER: 10683816
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 December 2024.




Aynur Dogan
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ERENCAN PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Erencan Properties Ltd is a private company limited by share capital, incorporated in England and Wales, registration number 10683816. The address of the registered office is 291 Green Lanes, London N13 4XS.
The principal activity of the company is that of a property investment business.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rent
Rental income is received over the period in which the rental charge relates to.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ERENCAN PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
ERENCAN PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
1,005,355



At 31 March 2024
1,005,355

The 2024 valuations were made by the Director, on a fair value basis.





5.


Debtors

2024
2023
£
£


Other debtors
-
195

-
195


Page 5

 
ERENCAN PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
2,682
2,255

2,682
2,255



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,077
1,071

Other creditors
219,967
217,587

Accruals and deferred income
960
960

222,004
219,618



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
719,775
719,694

719,775
719,694



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due after more than 5 years

Bank loans
719,775
719,694

719,775
719,694


Bank loans are secured by way of a charge over the investment properties of the company.


10.


Deferred taxation

Page 6

 
ERENCAN PROPERTIES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
10.Deferred taxation (continued)




2024


£






At beginning of year
(16,025)



At end of year
(16,025)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value movements
(16,025)
(16,025)

(16,025)
(16,025)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

Included within Other Creditors due in less than one year is a loan amount of £44,885 (2023: £46,756) due to an immediate family member of the Director and controlling person of of the company.
Included within Other Creditors due in less than one year is a loan amount of £18,500 (2023: £18,500) due to the Director.
Included within Other Creditors due in less than one year is a loan amount of £156,582 (2023: £152,332) due to a company which is under the control of an immediate family member and controlling person of the company.
The above loans are unsecured, free of interest and repayable on demand.

 
Page 7