COMPANY REGISTRATION NUMBER:
14892777
Egoli Enterprises Limited |
|
Filleted Unaudited Financial Statements |
|
Egoli Enterprises Limited |
|
Statement of Financial Position |
|
31 May 2024
Fixed assets
Tangible assets |
6 |
953,312 |
|
|
|
Current assets
Debtors |
7 |
25,563 |
Cash at bank and in hand |
18,583 |
|
-------- |
|
44,146 |
|
|
|
Creditors: amounts falling due within one year |
8 |
1,001,199 |
|
------------ |
Net current liabilities |
957,053 |
|
--------- |
Total assets less current liabilities |
(
3,741) |
|
------- |
Net liabilities |
(
3,741) |
|
------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
Profit and loss account |
(
3,841) |
|
------- |
Shareholders deficit |
(
3,741) |
|
------- |
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Egoli Enterprises Limited |
|
Statement of Financial Position (continued) |
|
31 May 2024
These financial statements were approved by the
board of directors
and authorised for issue on
21 February 2025
, and are signed on behalf of the board by:
Company registration number:
14892777
Egoli Enterprises Limited |
|
Notes to the Financial Statements |
|
Period from 24 May 2023 to 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
10% reducing balance |
|
|
|
|
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to 1.
5.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
.
6.
Tangible assets
|
Freehold property |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 24 May 2023 |
– |
– |
– |
Additions |
838,360 |
117,900 |
956,260 |
|
--------- |
--------- |
--------- |
At 31 May 2024 |
838,360 |
117,900 |
956,260 |
|
--------- |
--------- |
--------- |
Depreciation |
|
|
|
At 24 May 2023 |
– |
– |
– |
Charge for the period |
– |
2,948 |
2,948 |
|
--------- |
--------- |
--------- |
At 31 May 2024 |
– |
2,948 |
2,948 |
|
--------- |
--------- |
--------- |
Carrying amount |
|
|
|
At 31 May 2024 |
838,360 |
114,952 |
953,312 |
|
--------- |
--------- |
--------- |
|
|
|
|
Included in tangible assets is investment property which is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
7.
Debtors
|
31 May 24 |
|
£ |
Other debtors |
25,563 |
|
-------- |
|
|
8.
Creditors:
amounts falling due within one year
|
31 May 24 |
|
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
999,999 |
Other creditors |
1,200 |
|
------------ |
|
1,001,199 |
|
------------ |
|
|
9.
Director's advances, credits and guarantees
At the period end a director owed the company £25,563.
10.
Related party transactions
At the year end the company owed £999,999 to companies associated by common control.