Company No:
Contents
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 |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 4 |
|
|
|
Investment property | 5 |
|
|
|
Investments | 6 |
|
|
|
375,055 | 332,187 | |||
Current assets | ||||
Debtors | 7 |
|
|
|
Cash at bank and in hand |
|
|
||
30,892 | 24,224 | |||
Creditors: amounts falling due within one year | 8 | (
|
(
|
|
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 | (
|
(
|
|
Net assets/(liabilities) |
|
(
|
||
Capital and reserves | ||||
Called-up share capital | 10 |
|
|
|
Profit and loss account |
|
(
|
||
Total shareholders' funds/(deficit) |
|
(
|
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:
Mrs A Grice
Director |
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.
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 £.
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.
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.
Office equipment |
|
Computer equipment |
|
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.
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.
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.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
2024 | 2023 | ||
£ | £ | ||
Directors' emoluments |
|
|
Office equipment | Computer equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 September 2023 |
|
|
|
||
Additions |
|
|
|
||
At 31 August 2024 |
|
|
|
||
Accumulated depreciation | |||||
At 01 September 2023 |
|
|
|
||
Charge for the financial year |
|
|
|
||
At 31 August 2024 |
|
|
|
||
Net book value | |||||
At 31 August 2024 |
|
|
|
||
At 31 August 2023 |
|
|
|
Investment property | |
£ | |
Valuation | |
As at 01 September 2023 |
|
Fair value movement | 42,815 |
As at 31 August 2024 |
|
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.
Other investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 September 2023 |
|
|
|
At 31 August 2024 |
|
|
|
Carrying value at 31 August 2024 |
|
|
|
Carrying value at 31 August 2023 |
|
|
**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.
2024 | 2023 | ||
£ | £ | ||
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Trade creditors |
|
|
|
Amounts owed to directors |
|
|
|
Accruals |
|
|
|
Other taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2024 | 2023 | ||
£ | £ | ||
Bank loans |
|
|
2024 | 2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100 | 100 |
Ordinary "C", "D" and "E" shares have dividend and capital distribution rights. They do not confer any rights of redemption and are non-voting.
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.