Registered number
12419078
E7 Homes Ltd
Unaudited Filleted Accounts
31 August 2024
E7 Homes Ltd
Registered number: 12419078
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 815,000 815,000
Current assets
Debtors 4 4,550 -
Cash at bank and in hand - 2,172
4,550 2,172
Creditors: amounts falling due within one year 5 (11,988) (20,902)
Net current liabilities (7,438) (18,730)
Total assets less current liabilities 807,562 796,270
Creditors: amounts falling due after more than one year 6 (571,300) (560,516)
Net assets 236,262 235,754
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 231,802 231,802
Profit and loss account 4,360 3,852
Shareholders' funds 236,262 235,754
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Bassan
Director
Approved by the board on 28 May 2025
E7 Homes Ltd
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going Concern
After reviewing the company’s expectations and future trading conditions, the directors have a reasonable expectation that the company has adequate resources to continue in operational
existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investments
Other
investments
£
Cost
At 1 September 2023 815,000
At 31 August 2024 815,000
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 4,550 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 65 -
Taxation and social security costs 976 706
Other creditors 10,947 20,196
11,988 20,902
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 571,300 560,516
7 Revaluation reserve 2024 2023
£ £
At 1 September 2023 231,802 231,802
At 31 August 2024 231,802 231,802
8 Related party transactions
Greywolf Construction Ltd is a related party and the company is indebted to them by £1,600 as at the year end. (2023: £1,950)

GJA Investments Ltd is a related party and the company is indebted to them by £17,911 as at the year end. (2023: £19,011)
There is an agreement in place for GJA Investments Ltd to lend the company up to the value of £228,000.

GJA Developments Ltd is a related party that is indebted to the company by £4,550 as at the year end. (2023: £0)
9 Controlling party
The company's share capial is wholly owned by Bassan Group Holdings Ltd. (12919770).
Its registered office is:

13 Kensington Gardens
Ilford
England
IG1 3EJ
10 Other information
E7 Homes Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13 Kensington Gardens
Ilford
Essex
IG1 3EJ
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