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REGISTERED NUMBER: 03410508 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

ELENOU PROPERTIES LIMITED

ELENOU PROPERTIES LIMITED (REGISTERED NUMBER: 03410508)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELENOU PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Mrs E Nicholas





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 03410508 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ

ELENOU PROPERTIES LIMITED (REGISTERED NUMBER: 03410508)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 19,560 25,520
Investments 5 20 20
Investment property 6 4,500,000 4,500,000
4,519,580 4,525,540

CURRENT ASSETS
Debtors 7 92,078 93,093
Cash at bank and in hand 58,081 55,375
150,159 148,468
CREDITORS
Amounts falling due within one year 8 23,711 23,097
NET CURRENT ASSETS 126,448 125,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,646,028

4,650,911

CREDITORS
Amounts falling due after more than one
year

9

(1,619,016

)

(1,620,681

)

PROVISIONS FOR LIABILITIES 12 (301,346 ) (301,346 )
NET ASSETS 2,725,666 2,728,884

CAPITAL AND RESERVES
Called up share capital 13 2 2
Fair value reserve 14 1,998,853 1,998,853
Retained earnings 726,811 730,029
SHAREHOLDERS' FUNDS 2,725,666 2,728,884

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

ELENOU PROPERTIES LIMITED (REGISTERED NUMBER: 03410508)

BALANCE SHEET - continued
31 JULY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 April 2025 and were signed by:





Mrs E Nicholas - Director


ELENOU PROPERTIES LIMITED (REGISTERED NUMBER: 03410508)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Elenou Properties Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

ELENOU PROPERTIES LIMITED (REGISTERED NUMBER: 03410508)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 August 2023 11,585 32,633 44,218
Additions 560 - 560
At 31 July 2024 12,145 32,633 44,778
DEPRECIATION
At 1 August 2023 9,010 9,688 18,698
Charge for year 784 5,736 6,520
At 31 July 2024 9,794 15,424 25,218
NET BOOK VALUE
At 31 July 2024 2,351 17,209 19,560
At 31 July 2023 2,575 22,945 25,520

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 August 2023
and 31 July 2024 32,633
DEPRECIATION
At 1 August 2023 9,688
Charge for year 5,736
At 31 July 2024 15,424
NET BOOK VALUE
At 31 July 2024 17,209
At 31 July 2023 22,945

ELENOU PROPERTIES LIMITED (REGISTERED NUMBER: 03410508)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


5. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 August 2023
and 31 July 2024 20
NET BOOK VALUE
At 31 July 2024 20
At 31 July 2023 20

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 4,500,000
NET BOOK VALUE
At 31 July 2024 4,500,000
At 31 July 2023 4,500,000

The valuation as at 31 July 2023 was carried out by the directors. The basis of valuation was open market value subject to existing tenancies where applicable or vacant possession where applicable.

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2008 599,035
Valuation in 2009 (370,000 )
Valuation in 2015 165,000
Valuation in 2017 2,640,000
Valuation in 2023 (725,000 )
Cost 2,190,965
4,500,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 2,190,965 2,190,965

ELENOU PROPERTIES LIMITED (REGISTERED NUMBER: 03410508)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Other debtors 90,779 91,794
Retention 1,299 1,299
92,078 93,093

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Directors' current accounts 12,859 3,208
Accrued expenses 10,852 19,889
23,711 23,097

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans (see note 10) 1,599,461 1,598,313
Hire purchase contracts 19,555 22,368
1,619,016 1,620,681

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 1,599,461 1,598,313

10. LOANS

An analysis of the maturity of loans is given below:

31.7.24 31.7.23
£    £   
Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans 1,599,461 1,598,313

11. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank Loans - 1,598,313

The bank loans are secured by a charge over one of the company's investment properties.

ELENOU PROPERTIES LIMITED (REGISTERED NUMBER: 03410508)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


12. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 301,346 301,346

Deferred
tax
£   
Balance at 1 August 2023 301,346
Balance at 31 July 2024 301,346

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
2 Ordinary £1 2 2

14. RESERVES
Fair
value
reserve
£   
At 1 August 2023
and 31 July 2024 1,998,853