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Registered number: 11324240
Emerald Property Capital Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11324240
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 290,000 371,221
290,000 371,221
CURRENT ASSETS
Debtors 5 2,792 10,601
Cash at bank and in hand 7,933 40,491
10,725 51,092
Creditors: Amounts Falling Due Within One Year 6 (258,490 ) (286,061 )
NET CURRENT ASSETS (LIABILITIES) (247,765 ) (234,969 )
TOTAL ASSETS LESS CURRENT LIABILITIES 42,235 136,252
Creditors: Amounts Falling Due After More Than One Year 7 (205,000 ) (205,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (5,246 ) (5,246 )
NET LIABILITIES (168,011 ) (73,994 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account (168,012 ) (73,995 )
SHAREHOLDERS' FUNDS (168,011) (73,994)
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Carlo Maria Ciaroni
Director
20 January 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Emerald Property Capital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11324240 . The registered office is 809 Salisbury House, 29 Finsbury Circus, London, EC2M 7AQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors believe that the company would have sufficient resources to continue to trade for foreseeable future.
2.3. Turnover
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from investment properties
Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.
Service charge income is recognised as revenue in the period to which it relates.
2.4. Investment Properties
Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.
Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
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4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 May 2023 371,221
Additions 2,400
Revaluation (83,621 )
As at 30 April 2024 290,000
Net Book Value
As at 30 April 2024 290,000
As at 1 May 2023 371,221
The investment properties are valued, at 30 April 2024, by directors of the company based on the assessment of available market information and property condition. The directors believe that their valuation would not be materially different from the professional valuation.
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 2,792 10,601
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Director's loan account 258,490 286,061
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 205,000 205,000
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 205,000 205,000
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9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
Included in creditors due within one year is an amount of £258,490 (2023: £286,061) owed to its director. The amount is interest free and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is director by virtue of the ownership of 100% of the issued share capital in the company.
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