2023-07-012024-06-302024-06-30false09627996EGNARO PROPERTIES 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EGNARO PROPERTIES LIMITED

Registered Number
09627996
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

EGNARO PROPERTIES LIMITED
Company Information
for the year from 1 July 2023 to 30 June 2024

Director

Mr A Mashkoor

Registered Address

124 Baker Street
London
W1U 6TY

Registered Number

09627996 (England and Wales)
EGNARO PROPERTIES LIMITED
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36,5006,500
Investment property42,544,6322,544,632
2,551,1322,551,132
Current assets
Debtors8,6338,238
Cash at bank and on hand46,44313,298
55,07621,536
Creditors amounts falling due within one year5(1,824,069)(1,195,996)
Net current assets (liabilities)(1,768,993)(1,174,460)
Total assets less current liabilities782,1391,376,672
Creditors amounts falling due after one year6(686,250)(1,293,000)
Net assets95,88983,672
Capital and reserves
Called up share capital100100
Profit and loss account95,78983,572
Shareholders' funds95,88983,672
The financial statements were approved and authorised for issue by the Director on 12 March 2025, and are signed on its behalf by:
Mr A Mashkoor
Director
Registered Company No. 09627996
EGNARO PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Investment property
The Company carries its investment properties at fair value, with changes in fair values being recognised in the income statement. In addition, it measures land and buildings at revalued amounts with changes in fair value being recognised in other comprehensive income. Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss. If a property interest held under a lease is classified as investment property, the item accounted for at fair value is that interest and not the underlying property Investment properties are derecognised when either they have been disposed of or when the investment property is permanently withdrawn from use and no future economic benefit is expected from its disposal. Any gains or losses on the retirement or disposal of investment property, is recognised in the income statement in the period of derecognition. Transfers are made to or from investment property only when there is a change in use.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 July 236,5006,500
At 30 June 246,5006,500
Net book value
At 30 June 246,5006,500
At 30 June 236,5006,500
4.Investment property

£
Fair value at 01 July 232,544,632
At 30 June 242,544,632
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties18,7718,521
Taxation and social security3,424-
Other creditors1,787,5751,187,475
Accrued liabilities and deferred income14,299-
Total1,824,0691,195,996
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts686,2501,293,000
Total686,2501,293,000
7.Directors advances, credits and guarantees
Included in other creditors is an amount of £1,787,575 (2023: £1,187,475) owed to the director, Mr A Mashkoor.
8.Related party transactions
At the yearend, Egnaro Properties Ltd owed £18,771 (2023: £8,521) to Egnaro Ltd. The companies are related as Mr. A Mashkoor is a director in this company.