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Registration number: 13684091

ILIZIA ESTATES LIMITED

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2024

 

ILIZIA ESTATES LIMITED

Contents

Company Information

1

Directors' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 10

 

ILIZIA ESTATES LIMITED

Company Information

Directors

Radu Mironescu

Marius Nicolae Pruteanu

Registered office

3 The Shrubberies
George Lane
London
E18 1BD

Accountants

ACCOUNTING 2 TREND LTD
3 The Shrubberies
George Lane
London
E18 1BD

 

ILIZIA ESTATES LIMITED

Directors' Report for the Year Ended 31 October 2024

The directors present their report and the financial statements for the year ended 31 October 2024.

Directors of the company

The directors who held office during the year were as follows:

Radu Mironescu

Marius Nicolae Pruteanu

Principal activity

The principal activity of the company is that of an investment property holder.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 

.........................................
Radu Mironescu
Director

.........................................
Marius Nicolae Pruteanu
Director

 

ILIZIA ESTATES LIMITED

Profit and Loss Account for the Year Ended 31 October 2024

Note

2024
£

2023
£

Turnover

 

10,438

9,600

Gross profit

 

10,438

9,600

Administrative expenses

 

(16,812)

(9,965)

Operating loss

 

(6,374)

(365)

Loss before tax

(6,374)

(365)

Loss for the financial year

 

(6,374)

(365)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

ILIZIA ESTATES LIMITED

Statement of Comprehensive Income for the Year Ended 31 October 2024

2024
£

2023
£

Loss for the year

(6,374)

(365)

Total comprehensive income for the year

(6,374)

(365)

 

ILIZIA ESTATES LIMITED

(Registration number: 13684091)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

196,909

96,531

Current assets

 

Cash at bank and in hand

 

43,910

22,436

Creditors: Amounts falling due within one year

5

(77,930)

(41,334)

Net current liabilities

 

(34,020)

(18,898)

Total assets less current liabilities

 

162,889

77,633

Creditors: Amounts falling due after more than one year

5

(183,227)

(91,597)

Net liabilities

 

(20,338)

(13,964)

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

(20,340)

(13,966)

Shareholders' deficit

 

(20,338)

(13,964)

For the financial year ending 31 October 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.

Approved and authorised by the Board on 14 April 2025 and signed on its behalf by:
 

.........................................
Radu Mironescu
Director

.........................................
Marius Nicolae Pruteanu
Director

 

ILIZIA ESTATES LIMITED

Statement of Changes in Equity for the Year Ended 31 October 2024

Share capital
£

Retained earnings
£

Total
£

At 1 November 2023

2

(13,966)

(13,964)

Loss for the year

-

(6,374)

(6,374)

At 31 October 2024

2

(20,340)

(20,338)

Share capital
£

Retained earnings
£

Total
£

At 1 November 2022

2

(13,601)

(13,599)

Loss for the year

-

(365)

(365)

At 31 October 2023

2

(13,966)

(13,964)

 

ILIZIA ESTATES LIMITED

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

1

General information

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

The address of its registered office is:
3 The Shrubberies
George Lane
London
E18 1BD
United Kingdom

These financial statements were authorised for issue by the Board on 14 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.

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 sales/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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers 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.

 

ILIZIA ESTATES LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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.

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).

4

Investment properties

2024
£

At 1 November

96,531

Additions

100,378

At 31 October

196,909

There has been no valuation of investment property by an independent valuer. The directors are of the opinion that the value is at least as stated.

 

ILIZIA ESTATES LIMITED

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

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

646

-

Accruals and deferred income

 

1,080

1,080

Other creditors

 

76,204

40,254

 

77,930

41,334

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

183,227

91,597

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

162,847

91,597

Other borrowings

20,380

-

183,227

91,597

Current loans and borrowings

2024
£

2023
£

Other borrowings

646

-

 

ILIZIA ESTATES LIMITED

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

8

Related party transactions

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

40,254

40,254

Advanced

35,950

35,950

At end of period

76,204

76,204

2023

Other related parties
£

Total
£

At start of period

35,369

35,369

Advanced

4,885

4,885

At end of period

40,254

40,254

Terms of loans from related parties

Shareholders' loan with no interest bearing