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Company No: 10918169 (England and Wales)

ELONISA LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH THE REGISTRAR

ELONISA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024

Contents

ELONISA LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
ELONISA LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
DIRECTORS Mrs A Grice
Mr D N Rimmer
REGISTERED OFFICE 20 King Henry Road
Fleet
Hampshire
GU51 1JH
United Kingdom
COMPANY NUMBER 10918169 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
264 Banbury Road
Oxford
OX2 7DY
United Kingdom
ELONISA LIMITED

BALANCE SHEET

AS AT 31 AUGUST 2024
ELONISA LIMITED

BALANCE SHEET (continued)

AS AT 31 AUGUST 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 53 0
Investment property 5 375,000 332,185
Investments 6 2 2
375,055 332,187
Current assets
Debtors 7 21,611 19,010
Cash at bank and in hand 9,281 5,214
30,892 24,224
Creditors: amounts falling due within one year 8 ( 152,036) ( 132,241)
Net current liabilities (121,144) (108,017)
Total assets less current liabilities 253,911 224,170
Creditors: amounts falling due after more than one year 9 ( 232,200) ( 240,034)
Net assets/(liabilities) 21,711 ( 15,864)
Capital and reserves
Called-up share capital 10 100 100
Profit and loss account 21,611 ( 15,964 )
Total shareholders' funds/(deficit) 21,711 ( 15,864)

For the financial year ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Elonisa Limited (registered number: 10918169) were approved and authorised for issue by the Board of Directors on 21 March 2025. They were signed on its behalf by:

Mrs A Grice
Director
ELONISA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
ELONISA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 AUGUST 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elonisa Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 20 King Henry Road, Fleet, Hampshire, GU51 1JH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Rental income on assets leased under operating leases is recognised on straight line basis over the lease term.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Directors' remuneration

2024 2023
£ £
Directors' emoluments 12,000 12,000

4. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 September 2023 0 727 727
Additions 76 0 76
At 31 August 2024 76 727 803
Accumulated depreciation
At 01 September 2023 0 727 727
Charge for the financial year 23 0 23
At 31 August 2024 23 727 750
Net book value
At 31 August 2024 53 0 53
At 31 August 2023 0 0 0

5. Investment property

Investment property
£
Valuation
As at 01 September 2023 332,185
Fair value movement 42,815
As at 31 August 2024 375,000

Valuation

Investment property comprises a residential property. The investment property was revalued during the year for mortgage purposes and the directors have agreed this to be a fair representation of the value at 31 August 2024.

6. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 September 2023 2 2
At 31 August 2024 2 2
Carrying value at 31 August 2024 2 2
Carrying value at 31 August 2023 2 2

**Fixed asset investments revalued**
Unlisted investments are stated at cost, and are reviewed at the reporting date by the directors for impairment.The review is made on an open market basis by reference to market evidence of transaction prices for similar investments.

Listed investments are stated at market value.

7. Debtors

2024 2023
£ £
Prepayments 513 512
Other debtors 21,098 18,498
21,611 19,010

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 0 1,509
Amounts owed to directors 143,940 123,940
Accruals 4,596 4,320
Other taxation and social security 0 972
Other creditors 3,500 1,500
152,036 132,241

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 232,200 240,034

The bank loan is secured by a charge over the company’s property, and is an interest only mortgage at a rate of 5.59%.

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20 A ordinary shares of £ 1.00 each 20 20
20 B ordinary shares of £ 1.00 each 20 20
20 C ordinary shares of £ 1.00 each 20 20
20 D ordinary shares of £ 1.00 each 20 20
20 E ordinary shares of £ 1.00 each 20 20
100 100

Ordinary "A" and "B" shares have full voting, dividend and capital distribution rights. They do not confer any rights of redemption.

Ordinary "C", "D" and "E" shares have dividend and capital distribution rights. They do not confer any rights of redemption and are non-voting.

11. Related party transactions

Transactions with the entity's directors

At the reporting period end date, the directors were owed £143,940 (2023: £123,940) by the company. This amount is unsecured, interest free and repayable on demand.