Silverfin false false 05/04/2024 06/04/2023 05/04/2024 D. Edelstein 29/08/2012 K. Edelstein F. Steiner 19/04/2024 25 April 2025 The principal activity of the company continued to be that of developing property for resale. 00408637 2024-04-05 00408637 bus:Director1 2024-04-05 00408637 bus:Director3 2024-04-05 00408637 2023-04-05 00408637 core:CurrentFinancialInstruments 2024-04-05 00408637 core:CurrentFinancialInstruments 2023-04-05 00408637 core:Non-currentFinancialInstruments 2024-04-05 00408637 core:Non-currentFinancialInstruments 2023-04-05 00408637 core:ShareCapital 2024-04-05 00408637 core:ShareCapital 2023-04-05 00408637 core:SharePremium 2024-04-05 00408637 core:SharePremium 2023-04-05 00408637 core:RetainedEarningsAccumulatedLosses 2024-04-05 00408637 core:RetainedEarningsAccumulatedLosses 2023-04-05 00408637 core:OtherPropertyPlantEquipment 2023-04-05 00408637 core:OtherPropertyPlantEquipment 2024-04-05 00408637 core:CostValuation 2023-04-05 00408637 core:CostValuation 2024-04-05 00408637 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-04-05 00408637 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-04-05 00408637 bus:OrdinaryShareClass1 2024-04-05 00408637 bus:OrdinaryShareClass2 2024-04-05 00408637 2023-04-06 2024-04-05 00408637 bus:FilletedAccounts 2023-04-06 2024-04-05 00408637 bus:SmallEntities 2023-04-06 2024-04-05 00408637 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 00408637 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 00408637 bus:Director1 2023-04-06 2024-04-05 00408637 bus:Director2 2023-04-06 2024-04-05 00408637 bus:Director3 2023-04-06 2024-04-05 00408637 core:OtherPropertyPlantEquipment 2023-04-06 2024-04-05 00408637 2022-04-06 2023-04-05 00408637 core:Non-currentFinancialInstruments 2023-04-06 2024-04-05 00408637 bus:OrdinaryShareClass1 2023-04-06 2024-04-05 00408637 bus:OrdinaryShareClass1 2022-04-06 2023-04-05 00408637 bus:OrdinaryShareClass2 2023-04-06 2024-04-05 00408637 bus:OrdinaryShareClass2 2022-04-06 2023-04-05 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00408637 (England and Wales)

ELHAN PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 05 April 2024
Pages for filing with the registrar

ELHAN PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 05 April 2024

Contents

ELHAN PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 05 April 2024
ELHAN PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 05 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 535 629
Investments 5 3,000 3,000
3,535 3,629
Current assets
Stocks 6 838,257 838,257
Debtors 7 597,222 782,295
Cash at bank and in hand 2,314,864 2,495,994
3,750,343 4,116,546
Creditors: amounts falling due within one year 8 ( 1,166,820) ( 1,571,962)
Net current assets 2,583,523 2,544,584
Total assets less current liabilities 2,587,058 2,548,213
Creditors: amounts falling due after more than one year 9 ( 1,020,000) ( 1,020,000)
Net assets 1,567,058 1,528,213
Capital and reserves
Called-up share capital 10 5,014 5,014
Share premium account 1,554,360 1,554,360
Profit and loss account 7,684 ( 31,161 )
Total shareholders' funds 1,567,058 1,528,213

For the financial year ending 05 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Elhan Properties Limited (registered number: 00408637) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D. Edelstein
Director

25 April 2025

ELHAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
ELHAN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 05 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Elhan Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 34-36 Maddox Street, London W1S 1PD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 4 4

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 06 April 2023 20,036 20,036
At 05 April 2024 20,036 20,036
Accumulated depreciation
At 06 April 2023 19,407 19,407
Charge for the financial year 94 94
At 05 April 2024 19,501 19,501
Net book value
At 05 April 2024 535 535
At 05 April 2023 629 629

5. Fixed asset investments

2024 2023
£ £
Subsidiary undertakings 3,000 3,000

Investments in subsidiaries

2024
£
Cost
At 06 April 2023 3,000
At 05 April 2024 3,000
Carrying value at 05 April 2024 3,000
Carrying value at 05 April 2023 3,000

6. Stocks

2024 2023
£ £
Stocks 838,257 838,257

7. Debtors

2024 2023
£ £
Trade debtors 50,375 42,611
Other debtors 546,847 739,684
597,222 782,295

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 80,557 69,364
Amounts owed to fellow subsidiaries 0 218,788
Taxation and social security 6,972 501
Other creditors 1,079,291 1,283,309
1,166,820 1,571,962

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other creditors 1,020,000 1,020,000

There are no amounts included above in respect of which any security has been given by the small entity.

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2,904 Ordinary shares of £ 1.00 each 2,904 2,904
2,110 Non-voting ordinary shares of £ 1.00 each 2,110 2,110
5,014 5,014

11. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Entities over which the entity has control, joint control or significant influence over the company - Amounts owed by related parties 524,625 709,567
Entities over which the entity has control, joint control or significant influence over the company - Amounts owed to related parties 791,085 844,733
0 0

D. Edelstein, K Edelstein and /or F Steiner are directors of Rufijo Building & Trading Co. Limited and Steiner Group Services Limited. During the year, collection and management charges of £45,946 (2023 - £38,863) were paid to Rufijo Building & Trading Co. Limited and Steiner Group Services Limited.
At the year end, the company owed the directors £12,000 (2023 - £187,709)