Company registration number 15169471 (England and Wales)
ECHO 3 NINE PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
ECHO 3 NINE PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ECHO 3 NINE PROPERTY LIMITED (REGISTERED NUMBER: 15169471)
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investment property
4
337,642
Current assets
Debtors
5
216
Cash at bank and in hand
7,385
7,601
Creditors: amounts falling due within one year
6
(109,304)
Net current liabilities
(101,703)
Total assets less current liabilities
235,939
Creditors: amounts falling due after more than one year
7
(251,983)
Net liabilities
(16,044)
Capital and reserves
Called up share capital
1
Profit and loss reserves
(16,045)
Total equity
(16,044)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 6 May 2025
Mr S T Millward
Director
ECHO 3 NINE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Echo 3 Nine Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is Perrys Accountants, The Square, Wrotham, Kent, TN15 7AA.
1.1
Reporting period
The reporting period runs from the date of incorporation of 27 September 2023 and runs to 31 December 2024.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of consideration received or receivable for the rental income provided in the normal course of business. The following criteria must also be met before turnover is recognised. Turnover from a contract to provide services is recognised in the period in which the rental services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- The amount of turnover can be measured reliably
- It is probable that the company will receive the consideration due under the contract
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
1.4
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss. Investment property is not subject to depreciation.
ECHO 3 NINE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
1
4
Investment property
2024
£
Fair value
At 27 September 2023
Additions
337,642
At 31 December 2024
337,642
Investment property comprises of £337,642. The property valuations were arrived at by the director's best estimate.
5
Debtors
2024
Amounts falling due within one year:
£
Other debtors
216
6
Creditors: amounts falling due within one year
2024
£
Other creditors
109,304
ECHO 3 NINE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
- 4 -
7
Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
251,983
Included in other creditors is a bank loan secured by way of a fixed charge which also contains a negative pledge.