Company registration number 13174204 (England and Wales)
ELLINGHAM HOUSE FLATS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
ELLINGHAM HOUSE FLATS LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
ELLINGHAM HOUSE FLATS LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
1,525,000
1,495,000
Current assets
Debtors
99,450
22,153
Cash at bank and in hand
3,659
1,807
103,109
23,960
Creditors: amounts falling due within one year
(201,225)
(184,776)
Net current liabilities
(98,116)
(160,816)
Total assets less current liabilities
1,426,884
1,334,184
Creditors: amounts falling due after more than one year
(1,127,448)
(1,068,609)
Provisions for liabilities
(69,753)
(47,312)
Net assets
229,683
218,263
Capital and reserves
Called up share capital
5
1
1
Other reserves
209,257
201,698
Profit and loss reserves
20,425
16,564
Total equity
229,683
218,263
ELLINGHAM HOUSE FLATS LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 AUGUST 2024
31 August 2024
- 2 -

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

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.

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.

These 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, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 28 May 2025
Mr H Kaveh Baghbadrani
Director
Company registration number 13174204 (England and Wales)
ELLINGHAM HOUSE FLATS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
- 3 -
1
Accounting policies
Company information

Ellingham House Flats Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 251-253 Wells Road, Malvern Wells, Malvern, Worcestershire, WR14 4JF.

1.1
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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company had net current liabilities at the year end. The director has considered the working capital needs of the company for a period of greater than twelve months from the date of approval of these financial statements. The director concludes that he will be able to generate sufficient working capital funding through the support of himself and other companies that he controls to enable this company to operate as a going concern. As a result truethe director considers it appropriate to prepare these financial statements on the going concern basis of accounting.

1.3
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.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

ELLINGHAM HOUSE FLATS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 4 -
2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 September 2023
1,495,000
Revaluations
30,000
At 31 August 2024
1,525,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director at the balance sheet date. The original cost of the property was £1,245,990.

4
Loans and overdrafts
2024
2023
£
£
Bank loans
1,127,448
1,068,609
Payable after one year
1,127,448
1,068,609

Various lenders have been granted security over the properties for which their funding has been provided.

 

5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
6
Non-distributable reserve
2024
2023
£
£
At the beginning of the year
201,698
201,698
Transfer from retained earnings
7,559
-
At the end of the year
209,257
201,698
ELLINGHAM HOUSE FLATS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
- 5 -
7
Related party transactions

Crystalight Limited

Company under common control

This company has received working capital funding from the related party. At the year end the company owed £165,403 (2023: £171,115) to the related party, which is shown in 'other creditors' in the balance sheet. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Mirkamali Limited

Company under common control

In a previous period, the related party borrowed money from this company on an arm's length basis. At the year end £289 (2023: £289) was due from the related party, which is shown in 'other debtors' in the balance sheet. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Cedarbranch Limited

Company under common control

In a previous period, the related party borrowed money from this company on an arm's length basis. At the year end £84 (2023: £84) was due from the related party and is shown in 'other debtors' in the balance sheet. This debt is unsecured; no terms of interest or repayment have been agreed. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Watin UK Limited

Company under common control

The related party has borrowed money from this company on an arm's length basis. At the year end £1,256 (2023: £nil) was due from the related party and is shown in 'other debtors' in the balance sheet. This debt is unsecured; no terms of interest or repayment have been agreed.

 

R Kaveh

Daughter of the sole director and shareholder

In a previous period, this company paid costs on behalf of the related party on an arm's length basis. At the year end £390 (2023: £390) was due from the related party and is shown in 'other debtors' in the balance sheet. This debt is unsecured; no terms of interest or repayment have been agreed.

 

Ellingham House Limited

Company under common control

The related party and this company borrowed money from each other at various times for working capital on an arm's length basis. At the year end £22,817 was due to (2023: £13,499 due from) the related party and is shown in 'other creditors' in the balance sheet. This debt is unsecured; no terms of interest or repayment have been agreed.

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