Elstar Ltd

 

(Registration number: 5837449)
Balance Sheet as at 31 March 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	4,915	1,417
Investment property	5	870,982	634,840
Investments in joint property syndicates	6	254,493	244,108
		1,130,390	880,365
Current assets
Debtors	7	129,797	90,854
Cash at bank and in hand		5,837	98,464
		135,634	189,318
Creditors: Amounts falling due within one year	8	(222,763)	(140,013)
Net current (liabilities)/assets		(87,129)	49,305
Total assets less current liabilities		1,043,261	929,670
Creditors: Amounts falling due after more than one year	8	(569,496)	(434,389)
Provisions for liabilities		(6,980)	(6,980)
Net assets		466,785	488,301
Capital and reserves
Called up share capital		4	4
Profit and loss account		433,761	455,277
Non-distributable reserve		33,020	33,020
Total equity		466,785	488,301

Elstar Ltd

 

(Registration number: 5837449)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 April 2025 and signed on its behalf by:
 

......................................... Y Emanuel Director

Elstar Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2nd Floor - Parkgates
Bury New Road
Prestwich
M25 0TL
England

These financial statements were authorised for issue by the Board on 2 April 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investment in Joint Property Syndicates

Investments in syndicates are accounted for under the equity accounting method.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Elstar Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer Equipment	25%
Furniture and fittings	25%

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The Directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Elstar Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Elstar Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

Elstar Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2023	6,939	6,939
Additions	5,138	5,138
At 31 March 2024	12,077	12,077
Depreciation
At 1 April 2023	5,522	5,522
Charge for the year	1,640	1,640
At 31 March 2024	7,162	7,162
Carrying amount
At 31 March 2024	4,915	4,915
At 31 March 2023	1,417	1,417

5	Investment properties

	2024 £
At 1 April 23	634,840
Additions	236,142
At 31 March 24	870,982

There has been no valuation of investment property by an independent valuer.

The historical cost of the property is £830,992
 

Elstar Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6	Investments in joint property syndicates

	£
Capital as at 1 April 2023	244,108
Additions	500
Surplus/Deficit	19,875
Repayments	(9,990)
At 31 March 2024	254,493

7

Debtors

Current	2024 £	2023 £
Trade debtors	1,517	1,517
Other debtors	128,280	89,337
	129,797	90,854

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings		21,350	21,350
Taxation and social security		8,904	6,665
Accruals and deferred income		-	4,750
Other creditors		192,509	107,248
		222,763	140,013

Creditors include bank loans which are secured of £21,350.

Elstar Ltd

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings		569,496	434,389

Creditors include bank loans which are secured of £569,496 (2023 - £434,389).