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REGISTERED NUMBER: 08840782 (England and Wales)















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: Sukhinder Singh Sawhney
Rajbir Singh Sawhney





REGISTERED OFFICE: Alchemy House
45 Park Royal Road
Park Royal
London
NW10 7LQ





REGISTERED NUMBER: 08840782 (England and Wales)





AUDITORS: Shah Dodhia & Co
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
10,400,000 8,773,739

CURRENT ASSETS
Debtors 5 219,777 6,194
Cash at bank 249,761 -
469,538 6,194
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

132,500

106,836
NET CURRENT ASSETS/(LIABILITIES) 337,038 (100,642 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,737,038

8,673,097

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

(9,292,394

)

(8,689,261

)

PROVISIONS FOR LIABILITIES (406,565 ) -
NET ASSETS/(LIABILITIES) 1,038,079 (16,164 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,037,979 (16,264 )
1,038,079 (16,164 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:





Sukhinder Singh Sawhney - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2023 8,773,739
Revaluations 1,626,261
At 30 June 2024 10,400,000
NET BOOK VALUE
At 30 June 2024 10,400,000
At 30 June 2023 8,773,739

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 62,500 -
Other debtors 94,777 6,194
157,277 6,194

Amounts falling due after more than one year:
Other debtors 62,500 -

Aggregate amounts 219,777 6,194

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other creditors 132,500 106,836

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Amounts owed to group undertakings 9,292,394 8,689,261

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The auditor's report for the year dated 24 March 2025 was unqualified.

The senior statutory auditor was Satishchandra Baburaj Shah, for and on behalf of Shah Dodhia & Co.

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.