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REGISTERED NUMBER: 03343951 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

E & L ASSOCIATES (CLACTON) LIMITED

E & L ASSOCIATES (CLACTON) LIMITED (REGISTERED NUMBER: 03343951)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


E & L ASSOCIATES (CLACTON) LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: Mrs P A Swift
Mr L J Swift
Mr E T Swift
Mr B A Swift





SECRETARY: Mr B A Swift





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 03343951 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD

E & L ASSOCIATES (CLACTON) LIMITED (REGISTERED NUMBER: 03343951)

ABRIDGED BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,000 2,000
Investment property 5 3,125,605 2,287,126
3,127,605 2,289,126

CURRENT ASSETS
Stocks - 273,213
Debtors 560,358 136,709
Cash at bank 20,495 108,682
580,853 518,604
CREDITORS
Amounts falling due within one year 454,418 578,294
NET CURRENT ASSETS/(LIABILITIES) 126,435 (59,690 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,254,040

2,229,436

CREDITORS
Amounts falling due after more than one year (1,135,834 ) (1,146,151 )

PROVISIONS FOR LIABILITIES (334,671 ) (62,739 )
NET ASSETS 1,783,535 1,020,546

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 1,004,013 267,466
Retained earnings 769,522 743,080
SHAREHOLDERS' FUNDS 1,783,535 1,020,546

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

E & L ASSOCIATES (CLACTON) LIMITED (REGISTERED NUMBER: 03343951)

ABRIDGED BALANCE SHEET - continued
30 April 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 8 January 2025 and were signed on its behalf by:





Mr L J Swift - Director


E & L ASSOCIATES (CLACTON) LIMITED (REGISTERED NUMBER: 03343951)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

E & L Associates (Clacton) 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 represents property sales and net invoiced rents and commission receivable, excluding value added tax.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

E & L ASSOCIATES (CLACTON) LIMITED (REGISTERED NUMBER: 03343951)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 May 2023
and 30 April 2024 2,000
NET BOOK VALUE
At 30 April 2024 2,000
At 30 April 2023 2,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 2,287,126
Disposals (170,000 )
Revaluations 1,008,479
At 30 April 2024 3,125,605
NET BOOK VALUE
At 30 April 2024 3,125,605
At 30 April 2023 2,287,126

Investment properties were valued on an open market basis on 30 April 2024 by the directors.


E & L ASSOCIATES (CLACTON) LIMITED (REGISTERED NUMBER: 03343951)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,145,834 1,156,151

Bank loans are secured over the assets to which they relate

7. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption as per paragraph 33.1A of FRS 102 Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.

At the previous balance sheet date company owed £7,858 to the directors.

At the balance sheet, an amount of £23,625 (2023: £21,025) was owed by A Swift Escape Ltd, a company in which Mr L J Swift is a director.