REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
EAO Property Limited |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings | 380,638 |
The financial statements were approved by the Board of Directors and authorised for issue on |
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 |
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 |
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 |
Freehold property | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.24 | 30.6.23 |
as | restated |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
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 |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
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 |
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 |
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. |
for and on behalf of |
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. |