REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
EMPEROR RESIDENTIAL 111 LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
EMPEROR RESIDENTIAL 111 LIMITED |
EMPEROR RESIDENTIAL 111 LIMITED (REGISTERED NUMBER: 08431155) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Report of the Accountants | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
EMPEROR RESIDENTIAL 111 LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
EMPEROR RESIDENTIAL 111 LIMITED |
REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
EMPEROR RESIDENTIAL 111 LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and loss account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages one to eleven and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Chartered Accountants |
505 Pinner Road |
Harrow |
Middlesex |
HA2 6EH |
EMPEROR RESIDENTIAL 111 LIMITED (REGISTERED NUMBER: 08431155) |
BALANCE SHEET |
31 MARCH 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
EMPEROR RESIDENTIAL 111 LIMITED (REGISTERED NUMBER: 08431155) |
BALANCE SHEET - continued |
31 MARCH 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
EMPEROR RESIDENTIAL 111 LIMITED (REGISTERED NUMBER: 08431155) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Emperor Residential 111 Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rent receivable, net of value added tax. |
Turnover is recognised when the company has a right to consideration. |
Investment property |
Investment property whose fair value can be measured reliably without undue cost or effort shall be measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
Taxation |
Taxation 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 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
EMPEROR RESIDENTIAL 111 LIMITED (REGISTERED NUMBER: 08431155) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Revaluations | (80,000 | ) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2015 | 224,560 |
Valuation in 2016 | 740,835 |
Valuation in 2022 | 100,000 |
Valuation in 2024 | (80,000 | ) |
Cost | 1,164,605 |
2,150,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Amounts owed by connected companies | 642,278 | 779,329 |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to connected companies | 3,500 | - |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans |
EMPEROR RESIDENTIAL 111 LIMITED (REGISTERED NUMBER: 08431155) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31/3/24 | 31/3/23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr | 1,138,168 | 1,130,043 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31/3/24 | 31/3/23 |
£ | £ |
Bank loans |
The bank loans are secured by a fixed and floating charge over the investment properties of the company. |
9. | RELATED PARTY DISCLOSURES |
At the year end the company was owed £480,600 (2023: £624,050) by Sterling Rose Developments Limited, a company in which one of the directors has material interest. |
During the year the company paid management charges £2,500 (2023: £2,500) to Sterling Rose Developments Ltd. |
At the year end the company was owed £1,732 (2023: £Nil) by MM9 Investment Ltd, a company in which one of the directors has material interest. |
At the year end the company was owed £3,500 (2023: £Nil) to Emperor Development (Group) Limited, a company in which one of the directors has material interest. |