Caseware UK (AP4) 2024.0.164 2024.0.164 The principal activity of the company is the letting and operating of its own or leased real estate.false2023-09-3011falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11366932 2023-09-30 2024-09-29 11366932 2022-09-30 2023-09-29 11366932 2024-09-29 11366932 2023-09-29 11366932 c:Director1 2023-09-30 2024-09-29 11366932 d:FreeholdInvestmentProperty 2024-09-29 11366932 d:FreeholdInvestmentProperty 2023-09-29 11366932 d:FreeholdInvestmentProperty 2 2023-09-30 2024-09-29 11366932 d:CurrentFinancialInstruments 2024-09-29 11366932 d:CurrentFinancialInstruments 2023-09-29 11366932 d:Non-currentFinancialInstruments 2024-09-29 11366932 d:Non-currentFinancialInstruments 2023-09-29 11366932 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-29 11366932 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-29 11366932 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-29 11366932 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-29 11366932 d:ShareCapital 2024-09-29 11366932 d:ShareCapital 2023-09-29 11366932 d:RevaluationReserve 2024-09-29 11366932 d:RevaluationReserve 2023-09-29 11366932 d:RetainedEarningsAccumulatedLosses 2024-09-29 11366932 d:RetainedEarningsAccumulatedLosses 2023-09-29 11366932 d:OtherDeferredTax 2024-09-29 11366932 d:OtherDeferredTax 2023-09-29 11366932 c:OrdinaryShareClass1 2023-09-30 2024-09-29 11366932 c:OrdinaryShareClass1 2024-09-29 11366932 c:OrdinaryShareClass1 2023-09-29 11366932 c:FRS102 2023-09-30 2024-09-29 11366932 c:AuditExemptWithAccountantsReport 2023-09-30 2024-09-29 11366932 c:FullAccounts 2023-09-30 2024-09-29 11366932 c:PrivateLimitedCompanyLtd 2023-09-30 2024-09-29 11366932 2 2023-09-30 2024-09-29 11366932 5 2023-09-30 2024-09-29 11366932 f:PoundSterling 2023-09-30 2024-09-29 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11366932










Elandus Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 29 September 2024

 
Elandus Ltd
 
  
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Elandus Ltd for the Year Ended 29 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Elandus Ltd for the year ended 29 September 2024 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Elandus Ltd in accordance with the terms of our engagement letter dated 16 June 2023Our work has been undertaken solely to prepare for your approval the financial statements of Elandus Ltd and state those matters that we have agreed to state to the director of Elandus Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Elandus Ltd and its director for our work or for this report. 

It is your duty to ensure that Elandus Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Elandus Ltd. You consider that Elandus Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Elandus Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
Date:
11 February 2025
Page 1

 
Elandus Ltd
Registered number: 11366932

Balance Sheet
As at 29 September 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
800,001
760,001

  
800,001
760,001

Current assets
  

Debtors: amounts falling due within one year
 5 
1
1

Bank and cash balances
  
624
1,491

  
625
1,492

Creditors: amounts falling due within one year
 6 
(611,070)
(612,800)

Net current liabilities
  
 
 
(610,445)
 
 
(611,308)

Total assets less current liabilities
  
189,556
148,693

Creditors: amounts falling due after more than one year
 7 
(506,250)
(506,250)

Provisions for liabilities
  

Deferred tax
 8 
(49,247)
(39,247)

  
 
 
(49,247)
 
 
(39,247)

Net liabilities
  
(365,941)
(396,804)


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
147,741
117,741

Profit and loss account
  
(513,683)
(514,546)

  
(365,941)
(396,804)


Page 2

 
Elandus Ltd
Registered number: 11366932

Balance Sheet (continued)
As at 29 September 2024

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.

The Company has opted not to file the profit and loss account 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 by: 




................................................
O Dorman
Director
Date: 10 February 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
Elandus Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 September 2024

1.


General information

The company is a private company limited by share capital incorporated in England, within the United Kingdom. The company's registered address is 30 Waterfront, Brighton Marina Village, Brighton, BN2 5WA.
These financial statements are presented in sterling and are rounded to the nearest £1.

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

Going concern

The financial statements have been prepared on a going concern basis. The company is dependent upon the continued support of Rivers Birtwell Limited, related party of Elandus Ltd.

 
2.3

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:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

Page 4

 
Elandus Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 September 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Borrowing costs

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

Page 5

 
Elandus Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 September 2024

2.Accounting policies (continued)

 
2.11

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.


 
2.12

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

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).

Page 6

 
Elandus Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 September 2024

4.


Investment property


Freehold investment property

£



Valuation


At 30 September 2023
760,001


Surplus on revaluation
40,000



At 29 September 2024
800,001

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
603,013
603,013

603,013
603,013


5.


Debtors

2024
2023
£
£


Called up share capital not paid
1
1

1
1



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
820
2,382

Amounts owed to related companies
588,449
588,617

Other creditors
20,001
20,001

Accruals and deferred income
1,800
1,800

611,070
612,800


Page 7

 
Elandus Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 September 2024

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Mortgage
506,250
506,250

506,250
506,250


The following liabilities were secured:

2024
2023
£
£



Mortgage
506,250
506,250

506,250
506,250

Details of security provided:

Included within creditors is £506,250 (2023 : £506,250) which is secured by way of a legal mortgage, provided by United Trust Bank Limited, over the investment property held by the company.  The value of the property at the end of the period was £800,001 (2023: £760,001).


8.


Deferred taxation




2024


£






At beginning of year
(39,247)


Charged to profit or loss
(10,000)



At end of year
(49,247)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Capital gains
(49,247)
(39,247)

(49,247)
(39,247)


9.


Share capital

2024
2023
£
£
Allotted, called up and partly paid



100 (2023 - 100) Ordinary shares of £0.01 each
1
1


Page 8

 
Elandus Ltd
 

 
Notes to the Financial Statements
For the Year Ended 29 September 2024

10.


Related party transactions

Rivers Birtwell Limited
Common director
During the year, Rivers Birtwell Ltd continued to provide a loan to Elandus Ltd. Rivers Birtwell Ltd also recharged expenses of £618 to Elandus Ltd during the year. At the balance sheet date £588,449 (2023: £588,617) was due to Rivers Birtwell Ltd.
Rivers Birtwell Construction Limited
Common director
During the year, Rivers Birtwell Construction Ltd recharged expenses of £Nil (2023: £5,929) to Elandus Ltd.


11.


Controlling party

The company is controlled by its parent undertaking, Rivers Birtwell Limited, registered office 30 The Waterfront, Brighton Marina Village, Brighton, United Kingdom, BN2 5WA.
The ultimate controlling party is Birtwell & Dorman LLP, for which the directors G Birtwell and O Dorman are the only members. The registered office and principal place of business of Birtwell & Dorman LLP is 30 The Waterfront, Brighton Marina Village, Brighton, United Kingdom, BN2 5WA.


Page 9