REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
Elixir Western Avenue Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2024 |
for |
Elixir Western Avenue Ltd |
Elixir Western Avenue Ltd (Registered number: 08840782) |
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 |
Elixir Western Avenue Ltd |
Company Information |
for the Year Ended 30 June 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
173 Cleveland Street |
London |
W1T 6QR |
Elixir Western Avenue Ltd (Registered number: 08840782) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
10,400,000 | 8,773,739 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
6 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The financial statements were approved by the Board of Directors and authorised for issue on |
Elixir Western Avenue Ltd (Registered number: 08840782) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Elixir Western Avenue Ltd is a |
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 financial statements have been prepared on a going concern basis which the directors consider to be appropriate on the basis that the company will be able to generate enough income to meet it's day to day liabilities as and when they fall due. |
Revenue recognition |
Turnover comprises of rental income. Rental income from operating leases (net of any incentives given to the lessee) is recognised on a straight-line basis over the lease term. |
Investment property |
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are initially recognised at cost. Subsequent to initial recognition, investment properties are held at fair value. Any gain or losses arising from changes in the fair value are recognised in profit and loss in the year that they arise and no depreciation is provided in respect of investment properties. |
Taxation |
Tax on profit and loss 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 directly in equity or other comprehensive income, in which case the deferred tax relating yo those items is recognised directly in equity ot other comprehensive income. |
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. |
Current tax assets and liabilities are offset only when there is a legally enforceable right to set off the amounts and the company intends either to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in period different from those in which they are recognised in the financial statements. The following timing differences are not provided for: differences between accumulated depreciation and tax allowances for the cost of a fixed asset if and when all conditions for retaining the tax allowances have been met. Deferred tax is not recognised on permanent differences arising because certain types of income or expenses are non-taxable or are disallowable for tax or because certain tax charges or allowances are greater or similar than the corresponding income or expense. |
Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related differences, using tax rates enacted or substantively enacted at the balance sheet date. Deferred tax balances are not discounted. |
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. |
Elixir Western Avenue Ltd (Registered number: 08840782) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Basic financial instruments |
Trade and other debtors/creditors |
Trade and other debtors are recognised initially at transaction price plus attributable transaction costs. |
Other creditors are recognised initially at transaction price less attributable transaction costs. |
Subsequent to initial recognition they are measured at amortised cost using the effective interest |
method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument. |
Interest-bearing borrowings classified as basic financial instruments |
Borrowings are recognised initially at the present value of future payments discounted at a market rate of interest. Subsequent to initial recognition, borrowings are stated at amortised cost using the effective interest method, less any impairment losses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2023 |
Revaluations | 1,626,261 |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
The investment property is stated at its fair value at the Balance Sheet date, valued by the directors based on indicative value provided by local commercial estate agents. |
Any gain or loss arising from a change in the fair value is recognised in the profit and loss account. |
The historical cost of the investment property at 30 June 2024 was £8,773,739 (2023: £8,773,739). |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2024 | 1,626,261 |
Cost | 8,773,739 |
10,400,000 |
Elixir Western Avenue Ltd (Registered number: 08840782) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
5. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The auditor's report for the year dated 24 March 2025 was unqualified. |
9. | RELATED PARTY DISCLOSURES |
As the company is a wholly owned subsidiary of Elixir Group Holdings Limited, the company has taken advantage of the exemption contained in FRS 102.33 and has therefore not disclosed transactions on balances with entities which form part of the group headed by Elixir Group Holdings Limited. |
10. | ULTIMATE CONTROLLING PARTY |
The company's parent company and the ultimate controlling party is Elixir Group Holdings Limited, a company registered in England and Wales. |
These financial statements have been consolidated in the financial statements of Elixir Group Holdings Limited. The consolidated financial statements can be obtained from Alchemy House, 45 Park Royal Road, Park Royal, London, NW10 7LQ. |