Company No:
Contents
Note | 31.08.2024 | |
£ | ||
Fixed assets | ||
Investment property | 3 |
|
Investments | 4 |
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428,719 | ||
Current assets | ||
Debtors | 5 |
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Cash at bank and in hand |
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|
3,604,746 | ||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 13,337 | |
Total assets less current liabilities | 442,056 | |
Net assets |
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Capital and reserves | ||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Elestren Ltd (registered number:
S N Semmens
Director |
A M Semmens
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Elestren Ltd (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 Leswidden Common Fuel Depot, Leswidden Common, Penzance, TR19 7RU, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include 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 £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.
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.
Period from 25.09.2023 to 31.08.2024 |
|
Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Investment property | |
£ | |
Valuation | |
As at 25 September 2023 |
|
Additions | 428,598 |
As at 31 August 2024 |
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Valuation
Investment property is carried at cost which is considered by the directors to be fair value.
Investments in subsidiaries
31.08.2024 | |
£ | |
Cost | |
At 25 September 2023 | 0 |
Additions |
|
At 31 August 2024 |
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Carrying value at 31 August 2024 |
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Investments in shares
Name of entity | Registered office | Principal activity | Class of shares |
Ownership 31.08.2024 |
Held |
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Leswidden Common Fuel Depot, Leswidden Common, Penzance, Cornwall, TR19 7RU | Retailing of coal, fuel, oil and other fuels |
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|
Direct |
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Leswidden Common Fuel Depot, Leswidden Common, Penzance, United Kingdom, TR19 7RU | Letting and operating of a furnished holiday let |
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Direct |
31.08.2024 | |
£ | |
Other debtors |
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31.08.2024 | |
£ | |
Accruals |
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Taxation and social security |
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Other creditors |
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31.08.2024 | |
£ | |
Allotted, called-up and fully-paid | |
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|
|
|
120 |
Transactions with entities in which the entity itself has a participating interest
31.08.2024 | |
£ | |
Leswidden Common Fuel Depot Limited | (3,586,692) |
The above balance is included within other creditors and relates to an interest free loan due by Leswidden Common Fuel Depot Limited, a company in which Elestren Ltd is the only shareholder.
During the year, four investment properties were transferred by distribution in specie at their net book values totalling £428,598, from Leswidden to Elestren. Their net book value was deemed to be market value.