IRIS Accounts Production v25.1.0.734 12093722 Board of Directors 1.8.23 31.7.24 31.7.24 false true false false true false Ordinary Share A 1.00000 Ordinary Share B 1.00000 Ordinary Share C 1.00000 Ordinary Share D 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh120937222023-07-31120937222024-07-31120937222023-08-012024-07-31120937222022-07-31120937222022-08-012023-07-31120937222023-07-3112093722ns15:EnglandWales2023-08-012024-07-3112093722ns14:PoundSterling2023-08-012024-07-3112093722ns10:Director12023-08-012024-07-3112093722ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3112093722ns10:SmallEntities2023-08-012024-07-3112093722ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3112093722ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3112093722ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3112093722ns10:FullAccounts2023-08-012024-07-3112093722ns10:OrdinaryShareClass12023-08-012024-07-3112093722ns10:OrdinaryShareClass22023-08-012024-07-3112093722ns10:OrdinaryShareClass32023-08-012024-07-3112093722ns10:OrdinaryShareClass42023-08-012024-07-3112093722ns10:Director22023-08-012024-07-3112093722ns10:RegisteredOffice2023-08-012024-07-3112093722ns5:CurrentFinancialInstruments2024-07-3112093722ns5:CurrentFinancialInstruments2023-07-3112093722ns5:Non-currentFinancialInstruments2024-07-3112093722ns5:Non-currentFinancialInstruments2023-07-3112093722ns5:ShareCapital2024-07-3112093722ns5:ShareCapital2023-07-3112093722ns5:RevaluationReserve2024-07-3112093722ns5:RevaluationReserve2023-07-3112093722ns5:RetainedEarningsAccumulatedLosses2024-07-3112093722ns5:RetainedEarningsAccumulatedLosses2023-07-3112093722ns5:LandBuildings2023-07-3112093722ns5:PlantMachinery2023-07-3112093722ns5:LandBuildings2024-07-3112093722ns5:PlantMachinery2024-07-3112093722ns5:LandBuildings2023-08-012024-07-3112093722ns5:PlantMachinery2023-08-012024-07-3112093722ns5:LandBuildings2023-07-3112093722ns5:PlantMachinery2023-07-3112093722ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3112093722ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3112093722ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-07-3112093722ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-07-3112093722ns5:Secured2024-07-3112093722ns5:Secured2023-07-3112093722ns5:DeferredTaxation2023-07-3112093722ns5:DeferredTaxation2024-07-3112093722ns10:OrdinaryShareClass12024-07-3112093722ns10:OrdinaryShareClass22024-07-3112093722ns10:OrdinaryShareClass32024-07-3112093722ns10:OrdinaryShareClass42024-07-3112093722ns5:RetainedEarningsAccumulatedLosses2023-07-3112093722ns5:RevaluationReserve2023-07-3112093722ns5:RetainedEarningsAccumulatedLosses2023-08-012024-07-3112093722ns5:RevaluationReserve2023-08-012024-07-31
REGISTERED NUMBER: 12093722 (England and Wales)















ELMWAY PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024






ELMWAY PROPERTIES LIMITED (REGISTERED NUMBER: 12093722)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ELMWAY PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: V Taralis
Dr M Faka





REGISTERED OFFICE: 2nd Floor, One Hobbs House
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX





REGISTERED NUMBER: 12093722 (England and Wales)





ACCOUNTANTS: Albury Associates Limited
2nd Floor, One Hobbs House,
Harrovian Business Village
Bessborough Road
Harrow
Middlesex
HA1 3EX

ELMWAY PROPERTIES LIMITED (REGISTERED NUMBER: 12093722)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 823,524 873,663

CURRENT ASSETS
Debtors 5 969 969
Cash at bank 5,011 36,055
5,980 37,024
CREDITORS
Amounts falling due within one year 6 249,694 295,809
NET CURRENT LIABILITIES (243,714 ) (258,785 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

579,810

614,878

CREDITORS
Amounts falling due after more than one year 7 (553,717 ) (553,717 )

PROVISIONS FOR LIABILITIES 9 (10,234 ) (18,695 )
NET ASSETS 15,859 42,466

CAPITAL AND RESERVES
Called up share capital 10 400 400
Revaluation reserve 11 43,627 79,698
Retained earnings 11 (28,168 ) (37,632 )
SHAREHOLDERS' FUNDS 15,859 42,466

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 directors acknowledge their 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 April 2025 and were signed on its behalf by:




V Taralis - Director


ELMWAY PROPERTIES LIMITED (REGISTERED NUMBER: 12093722)

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


1. STATUTORY INFORMATION

Elmway 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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

Cash at bank and in hand
Cash at bank and in hand is represented by cash in hand and deposits held with financial institutions repayable without penalty or a notice of not less than 24 hour's.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - Straight line over 3 years
Land and buildings - Straight line over 150 years

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

ELMWAY PROPERTIES LIMITED (REGISTERED NUMBER: 12093722)

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


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 August 2023 885,532 339 885,871
Impairments (44,532 ) - (44,532 )
At 31 July 2024 841,000 339 841,339
DEPRECIATION
At 1 August 2023 11,869 339 12,208
Charge for year 5,607 - 5,607
At 31 July 2024 17,476 339 17,815
NET BOOK VALUE
At 31 July 2024 823,524 - 823,524
At 31 July 2023 873,663 - 873,663

Leasehold properties were revalued at the year-end date to their fair value of £841,000 by the Directors, based on their online research. If the leasehold properties were included in the balance sheet on an historical cost basis, then the carrying amount would be £885,532 (2023: £885,532). The directors are of the opinion that, given the static nature of the property market in recent times, the difference between the fair value and the estimated fair value was not significant, therefore they have adopted the fair value based on their research.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 969 969

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 249,694 295,809

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 352,222 352,222
Other creditors 201,495 201,495
553,717 553,717

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more than 5 years 352,222 352,222
Other loans more than 5 years 201,495 201,495
553,717 553,717

ELMWAY PROPERTIES LIMITED (REGISTERED NUMBER: 12093722)

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


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loans 352,222 352,222
Other Loans 201,495 201,495
553,717 553,717

The loans are secured by way of a fixed charge over the company's properties.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred Tax Movement 10,234 18,695

Deferred
tax
£   
Balance at 1 August 2023 18,695
Leasehold Property Revaluation (8,461 )
Balance at 31 July 2024 10,234

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary Share A £1 100 100
100 Ordinary Share B £1 100 100
100 Ordinary Share C £1 100 100
100 Ordinary Share D £1 100 100
400 400

All shares rank pari-passu.

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 August 2023 (37,632 ) 79,698 42,066
Profit for the year 9,464 9,464
Revaluation during the year - (36,071 ) (36,071 )
At 31 July 2024 (28,168 ) 43,627 15,459

12. RELATED PARTY DISCLOSURES

At the year-end date, included within other creditors, amount falling due within one year, is an amount of £247,775 (2023: £294,010) owed to the directors Dr M Faka and V Taralis.

This amount is unsecured, interest free and repayable on demand.

ELMWAY PROPERTIES LIMITED (REGISTERED NUMBER: 12093722)

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


13. ULTIMATE CONTROLLING PARTY

The controlling parties are Dr M Faka and V Taralis.