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REGISTERED NUMBER: 08305245 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

EAO Property Limited

EAO Property Limited (Registered number: 08305245)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


EAO Property Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A A Abdullah
M N Abdullah
M Y A Abdulla
M A Abdullah
P G Evans





REGISTERED OFFICE: Unit 13 Babbage House
Northampton Science Park
Kings Park Road
Northampton
NN3 6LG





REGISTERED NUMBER: 08305245 (England and Wales)





AUDITORS: Torr Waterfield Limited
Statutory Auditor
Park House
37 Clarence Street
Leicester
Leicestershire
LE1 3RW

EAO Property Limited (Registered number: 08305245)

Balance Sheet
30 June 2024

30.6.24 30.6.23
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 8,061,562 8,009,584

CURRENT ASSETS
Debtors 5 6,610 16,153
Cash at bank 23,355 52,467
29,965 68,620
CREDITORS
Amounts falling due within one year 6 (4,719,099 ) (4,715,230 )
NET CURRENT LIABILITIES (4,689,134 ) (4,646,610 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,372,428

3,362,974

CREDITORS
Amounts falling due after more than one
year

7

(2,206,608

)

(2,382,276

)
NET ASSETS 1,165,820 980,698

CAPITAL AND RESERVES
Called up share capital 210 210
Share premium 599,850 599,850
Retained earnings 565,760 380,638
1,165,820 980,698

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 and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





M A Abdullah - Director


EAO Property Limited (Registered number: 08305245)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

EAO Property Limited 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.

The accounting period for the prior period had been shortened from 30 November 2023 to 30 June 2023 to align to the year ends of all the companies within the group. Therefore the prior seven month period is not entirely comparable to the current twelve month period.

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.

Going concern
The company has net current liabilities at the year end. It is dependent on the continued support of the directors and other group companies for the continuance of trade. Both the other group companies and the directors intend to continue with such support. On that basis the directors consider it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of that support.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.

EAO Property Limited (Registered number: 08305245)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under the hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST
At 1 July 2023 8,832,331 4,539 8,836,870
Additions 233,291 - 233,291
At 30 June 2024 9,065,622 4,539 9,070,161
DEPRECIATION
At 1 July 2023 822,747 4,539 827,286
Charge for year 181,313 - 181,313
At 30 June 2024 1,004,060 4,539 1,008,599
NET BOOK VALUE
At 30 June 2024 8,061,562 - 8,061,562
At 30 June 2023 8,009,584 - 8,009,584

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
as restated
£    £   
Trade debtors - 3,776
Amounts owed by group undertakings 3,437 3,320
Other debtors 3,173 9,057
6,610 16,153

Other debtors include prepayments and accrued income of £396 (2023 - £1,193).

EAO Property Limited (Registered number: 08305245)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
as restated
£    £   
Bank loans and overdrafts 293,634 293,634
Trade creditors 26,896 104,956
Amounts owed to group undertakings 2,450,896 2,422,807
Other creditors 1,947,673 1,893,833
4,719,099 4,715,230

Other creditors include accruals and deferred income of £7,000 (2023 - £3,250).

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
as restated
£    £   
Bank loans 2,206,608 2,382,276

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 1,032,073 1,207,741

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
as restated
£    £   
Bank loans 2,500,242 2,675,910

Bank loans totalling £2,500,242 (2023 - £2,675,910) are secured over the freehold properties and by a guarantee of £3,000,000 given by Maplyn Care Services Limited.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Peter Morris FCA (Senior Statutory Auditor)
for and on behalf of Torr Waterfield Limited

10. ULTIMATE CONTROLLING PARTY

The parent undertaking of the largest and smallest group for which consolidated financial statements are prepared is Abdeva Limited. The registered office address is Unit 13 Babbage House, Northampton Science Park, Kings Park Road, Northampton, NN3 6LG


Abdeva Limited was controlled by members of the Abdullah family and no one individual has a controlling interest.