REGISTERED NUMBER: |
Elstree Land Ltd |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
REGISTERED NUMBER: |
Elstree Land Ltd |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
Elstree Land Ltd (Registered number: 11567343) |
Contents of the Financial Statements |
for the year ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Elstree Land Ltd |
Company Information |
for the year ended 29 February 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
Elstree Land Ltd (Registered number: 11567343) |
Balance Sheet |
29 February 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | 10 |
Shareholders' funds |
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 were approved by the director and authorised for issue on |
Elstree Land Ltd (Registered number: 11567343) |
Notes to the Financial Statements |
for the year ended 29 February 2024 |
1. | Statutory information |
Elstree Land Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
These financial statements have been prepared on a going concern basis and they do not include any adjustments which may be necessary should the going concern basis of accounting no longer be appropriate.. |
Tangible fixed assets |
Land held |
Stock of land held includes the cost of the acquisition of land and associated costs to acquire and develop the land. Each land is reviewed independently and valued at the lower of the acquisition and associated costs, or net realisable value. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Borrowings |
Interest bearing loans are recorded at cost plus accrued interest, inclusive of any minimum interest periods. |
Interest and finance costs are recognised on the basis of the effective interest method and where directly |
attributable to the acquisition and/or development of land held, are recognised as part of the associated costs of Land held. |
Borrowings are classified in accordance with the term of repayment of the loan agreement. Where loans are |
attributable directly to Land held, borrowings will be classified as current liabilities. |
Interest income |
Interest income are from loans provided and classified as other income. |
3. | Employees and directors |
The average number of employees during the year was |
Elstree Land Ltd (Registered number: 11567343) |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
4. | Tangible fixed assets |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Cost |
At 1 March 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 29 February 2024 |
Depreciation |
At 1 March 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Other debtors |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | Loans |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
8. | Secured debts |
Included within Other creditors are loans of £2,400,000 and £567,000. Both of these loans are secured by way of a fixed and floating charge over the company's freehold stock. The £2.4m loan was repaid on completion of the the sale of the property in April 2024. Interest is charged at 13.89% per annum, with a minimum charge of £500,000. The second loan for £567,000 is repayable by 5 January 2025, interest is charged on this loan at 1.1% per month. |
Elstree Land Ltd (Registered number: 11567343) |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
10. | Reserves |
Retained |
earnings |
£ |
At 1 March 2023 |
Deficit for the year | ( |
) |
Dividends | ( |
) |
At 29 February 2024 |