IRIS Accounts Production v24.3.2.46 13356942 director 1.5.23 30.4.24 30.4.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh133569422023-04-30133569422024-04-30133569422023-05-012024-04-30133569422022-04-30133569422022-05-012023-04-30133569422023-04-3013356942ns15:EnglandWales2023-05-012024-04-3013356942ns14:PoundSterling2023-05-012024-04-3013356942ns10:Director12023-05-012024-04-3013356942ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3013356942ns10:SmallEntities2023-05-012024-04-3013356942ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3013356942ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3013356942ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3013356942ns10:FullAccounts2023-05-012024-04-3013356942ns10:OrdinaryShareClass12023-05-012024-04-3013356942ns10:RegisteredOffice2023-05-012024-04-3013356942ns5:CurrentFinancialInstruments2024-04-3013356942ns5:CurrentFinancialInstruments2023-04-3013356942ns5:Non-currentFinancialInstruments2024-04-3013356942ns5:Non-currentFinancialInstruments2023-04-3013356942ns5:ShareCapital2024-04-3013356942ns5:ShareCapital2023-04-3013356942ns5:FurtherSpecificReserve3ComponentTotalEquity2024-04-3013356942ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-3013356942ns5:RetainedEarningsAccumulatedLosses2024-04-3013356942ns5:RetainedEarningsAccumulatedLosses2023-04-3013356942ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3013356942ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3013356942ns5:Secured2024-04-3013356942ns5:Secured2023-04-3013356942ns5:DeferredTaxation2023-04-3013356942ns5:DeferredTaxation2023-05-012024-04-3013356942ns5:DeferredTaxation2024-04-3013356942ns10:OrdinaryShareClass12024-04-3013356942ns5:RetainedEarningsAccumulatedLosses2023-04-3013356942ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-3013356942ns5:RetainedEarningsAccumulatedLosses2023-05-012024-04-30
REGISTERED NUMBER: 13356942 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024

FOR

ELITE PROPERTY PORTFOLIO LTD

ELITE PROPERTY PORTFOLIO LTD (REGISTERED NUMBER: 13356942)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELITE PROPERTY PORTFOLIO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTOR: J Herbert





REGISTERED OFFICE: 36-40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL





REGISTERED NUMBER: 13356942 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

ELITE PROPERTY PORTFOLIO LTD (REGISTERED NUMBER: 13356942)

BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 125,000 120,000

CURRENT ASSETS
Debtors 5 - 3,645
Cash at bank and in hand 94 131
94 3,776
CREDITORS
Amounts falling due within one year 6 18,603 101,803
NET CURRENT LIABILITIES (18,509 ) (98,027 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,491

21,973

CREDITORS
Amounts falling due after more than one
year

7

(94,476

)

-

PROVISIONS FOR LIABILITIES 10 (6,763 ) (5,813 )
NET ASSETS 5,252 16,160

CAPITAL AND RESERVES
Called up share capital 11 1 1
Non distributable reserve 12 28,832 24,782
Retained earnings 12 (23,581 ) (8,623 )
SHAREHOLDERS' FUNDS 5,252 16,160

ELITE PROPERTY PORTFOLIO LTD (REGISTERED NUMBER: 13356942)

BALANCE SHEET - continued
30TH APRIL 2024


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

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

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th January 2025 and were signed by:





J Herbert - Director


ELITE PROPERTY PORTFOLIO LTD (REGISTERED NUMBER: 13356942)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

Elite Property Portfolio 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.

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 Profit & Loss Account, 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 PROPERTY PORTFOLIO LTD (REGISTERED NUMBER: 13356942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023 120,000
Revaluations 5,000
At 30th April 2024 125,000
NET BOOK VALUE
At 30th April 2024 125,000
At 30th April 2023 120,000

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2023 30,595
Valuation in 2024 5,000
Cost 89,405
125,000

Investment properties have been revalued based on a professional valuation prior to the company year end.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments - 3,645

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 2,107 77,000
Other creditors 2,989 865
Directors' current accounts 12,546 23,037
Accrued expenses 961 901
18,603 101,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 94,476 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 94,476 -

ELITE PROPERTY PORTFOLIO LTD (REGISTERED NUMBER: 13356942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,107 77,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 94,476 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 96,583 77,000

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,763 5,813

Deferred
tax
£   
Balance at 1st May 2023 5,813
Provided during year 950
Balance at 30th April 2024 6,763

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

ELITE PROPERTY PORTFOLIO LTD (REGISTERED NUMBER: 13356942)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

12. RESERVES
Non
Retained distributable
earnings reserve Totals
£    £    £   

At 1st May 2023 (8,623 ) 24,782 16,159
Deficit for the year (10,908 ) (10,908 )
Revaluation transfer (5,000 ) 5,000 -
Deferred tax transfer 950 (950 ) -
At 30th April 2024 (23,581 ) 28,832 5,251