REGISTERED NUMBER: |
Eligo Property Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
Eligo Property Limited |
Unaudited Financial Statements |
for the Year Ended 30 June 2024 |
Eligo Property Limited (Registered number: 07108482) |
Contents of the Financial Statements |
for the Year Ended 30 June 2024 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
Eligo Property Limited |
Company Information |
for the Year Ended 30 June 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Mynshull House |
78 Churchgate |
Stockport |
Cheshire |
SK1 1YJ |
Eligo Property Limited (Registered number: 07108482) |
Balance Sheet |
30 June 2024 |
30.6.24 | 30.6.23 |
Notes | £ | £ | £ |
Fixed assets |
Investments | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Provisions for liabilities | 8 |
Net assets |
Capital and reserves |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings |
Shareholders' funds |
The director acknowledges his 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. |
Eligo Property Limited (Registered number: 07108482) |
Balance Sheet - continued |
30 June 2024 |
The financial statements were approved by the director and authorised for issue on |
Eligo Property Limited (Registered number: 07108482) |
Notes to the Financial Statements |
for the Year Ended 30 June 2024 |
1. | Statutory information |
Eligo Property Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax. |
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. |
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss. |
The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view. |
If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified. |
Fixed asset investments |
Consolidated accounts |
The company qualifies as a small group and the directors have taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group financial statements. As such these financial statements present information about the company as an individual undertaking only and not about its group. |
3. | Employees and directors |
The average number of employees during the year was |
Eligo Property Limited (Registered number: 07108482) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 July 2023 |
and 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 July 2023 |
and 30 June 2024 |
Net book value |
At 30 June 2024 |
At 30 June 2023 |
Fair value at 30 June 2024 is represented by: |
£ |
Valuation in 2024 | 554,098 |
If investment property had not been revalued it would have been included at the following historical cost: |
30.6.24 | 30.6.23 |
£ | £ |
Cost | 545,153 | 545,153 |
The investment property was valued on an open market basis on 30 June 2024 by the director . |
6. | Debtors: amounts falling due within one year |
30.6.24 | 30.6.23 |
£ | £ |
Other debtors |
Eligo Property Limited (Registered number: 07108482) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2024 |
7. | Creditors: amounts falling due within one year |
30.6.24 | 30.6.23 |
£ | £ |
Corporation tax |
Loans from group undertakings | 8,633 | 6,503 |
Directors' current accounts | 34,890 | 28,757 |
Accrued expenses |
8. | Provisions for liabilities |
30.6.24 | 30.6.23 |
£ | £ |
Deferred tax | 1,700 | 1,700 |
Deferred |
tax |
£ |
Balance at 1 July 2023 |
Balance at 30 June 2024 |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.24 | 30.6.23 |
value: | £ | £ |
Ordinary | £0.10 | 100 | 100 |
10. | Reserves |
Fair |
value |
reserve |
£ |
At 1 July 2023 |
and 30 June 2024 |