Company registration number SC564890 (Scotland)
EB ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
EB ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
EB ESTATES LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
195,000
195,000
Current assets
-
-
Creditors: amounts falling due within one year
4
(124,279)
(131,540)
Net current liabilities
(124,279)
(131,540)
Total assets less current liabilities
70,721
63,460
Creditors: amounts falling due after more than one year
5
(73,145)
(72,563)
Net liabilities
(2,424)
(9,103)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(2,425)
(9,104)
Total equity
(2,424)
(9,103)

For the financial year ended 31 May 2023 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 of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 February 2025 and are signed on its behalf by:
Mr D Bali
Director
Company registration number SC564890 (Scotland)
EB ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information

EB Estates Limited is a private company limited by shares incorporated in Scotland. The registered office is 3 Castle Court, Carnegie Campus, Dunfermline, Fife, KY11 8PB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The majority of the net liability position comprises amounts owed to the company directors. The directors have confirmed they will not seek repayment within 12 months from the date of signing the accounts to the detriment of the company's ability to trade.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for the short term letting of residential property in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Financial instruments
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies are initially recognised at transaction price.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

EB ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Investment property
2023
£
Fair value
At 1 June 2022 and 31 May 2023
195,000

Investment property comprises one property held at fair value.

4
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
11,070
9,422
Trade creditors
1,616
1,616
Amounts owed to group undertakings
20,000
20,000
Corporation tax
10,536
10,536
Other creditors
81,057
89,966
124,279
131,540
5
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
73,145
72,563
6
Related party transactions

Amounts owed to group undertakings are agreed with no interest payable and no set terms of repayment.

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