EGR Property Limited 12848083 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Investing and letting own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 12848083 2023-09-01 2024-08-31 12848083 2024-08-31 12848083 bus:OrdinaryShareClass1 2024-08-31 12848083 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 12848083 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 12848083 bus:SmallEntities 2023-09-01 2024-08-31 12848083 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 12848083 bus:FilletedAccounts 2023-09-01 2024-08-31 12848083 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 12848083 bus:RegisteredOffice 2023-09-01 2024-08-31 12848083 bus:Director1 2023-09-01 2024-08-31 12848083 bus:Director2 2023-09-01 2024-08-31 12848083 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 12848083 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 12848083 bus:Agent1 2023-09-01 2024-08-31 12848083 countries:EnglandWales 2023-09-01 2024-08-31 12848083 2023-08-31 12848083 2022-09-01 2023-08-31 12848083 2023-08-31 12848083 bus:OrdinaryShareClass1 2023-08-31 12848083 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 12848083 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-08-31 12848083 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12848083 (England and Wales)

EGR Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

EGR Property Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

EGR Property Limited

Company Information

Directors

Mr Darren Kelly Rolfe

Mrs Gabrielle Louise Rolfe

Registered office

Melbury House
Caldecote Lane
Bushey
WD23 4EF

Accountants

Aventus Partners Limited
Chartered AccountantsHygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

EGR Property Limited

(Registration number: 12848083) (England and Wales)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

239,287

200,000

Current assets

 

Cash at bank and in hand

 

9,950

9,694

Creditors: Amounts falling due within one year

5

(59,197)

(50,067)

Net current liabilities

 

(49,247)

(40,373)

Total assets less current liabilities

 

190,040

159,627

Creditors: Amounts falling due after more than one year

5

(151,999)

(151,995)

Net assets

 

38,041

7,632

Capital and reserves

 

Called up share capital

6

2

2

Retained earnings

38,039

7,630

Shareholders' funds

 

38,041

7,632

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised for issue by the Board on 27 May 2025 and signed on its behalf by:
 

.........................................
Mr Darren Kelly Rolfe
Director

   
     
 

EGR Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Melbury House
Caldecote Lane
Bushey
WD23 4EF
United Kingdom

These financial statements were authorised for issue by the Board on 27 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.

Going concern

At the time of approving these financial statements, the directors are confident that the company has adequate resources to continue in operational existence for the foreseeable future and are willing to provide the necessary financial support as necessary and accordingly these financial statements have been prepared on a going concern basis.

 

EGR Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental income and relatedservices in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax,returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

EGR Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

EGR Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


 Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.

For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3

Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 2 (2023: 2).

 

EGR Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

4

Investment properties

2024
£

At 1 September

200,000

Additions

7,894

Fair value adjustments

31,393

At 31 August

239,287

The fair value of the investment properties were assessed internally by the directors as at the year end. No independent valuation was obtained for the purposes of the financial statement.

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

48,000

402

Taxation and social security

-

442

Accruals and deferred income

900

720

Directors current account

10,297

48,503

59,197

50,067

Other creditors include an amount of £48,000 payable to a company having common directors.

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

151,999

151,995

Bank borrowings are secured by the investment property.

 

EGR Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024 (continued)

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2