IRIS Accounts Production v25.1.3.33 10898205 director 1.9.23 31.8.24 31.8.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh108982052023-08-31108982052024-08-31108982052023-09-012024-08-31108982052022-08-31108982052022-09-012023-08-31108982052023-08-3110898205ns15:EnglandWales2023-09-012024-08-3110898205ns14:PoundSterling2023-09-012024-08-3110898205ns10:Director12023-09-012024-08-3110898205ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3110898205ns10:SmallEntities2023-09-012024-08-3110898205ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-3110898205ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-3110898205ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-3110898205ns10:FullAccounts2023-09-012024-08-3110898205ns10:RegisteredOffice2023-09-012024-08-3110898205ns5:CurrentFinancialInstruments2024-08-3110898205ns5:CurrentFinancialInstruments2023-08-3110898205ns5:Non-currentFinancialInstruments2024-08-3110898205ns5:Non-currentFinancialInstruments2023-08-3110898205ns5:ShareCapital2024-08-3110898205ns5:ShareCapital2023-08-3110898205ns5:FurtherSpecificReserve3ComponentTotalEquity2024-08-3110898205ns5:FurtherSpecificReserve3ComponentTotalEquity2023-08-3110898205ns5:RetainedEarningsAccumulatedLosses2024-08-3110898205ns5:RetainedEarningsAccumulatedLosses2023-08-3110898205ns5:FurnitureFittings2023-09-012024-08-3110898205ns5:FurnitureFittings2023-08-3110898205ns5:FurnitureFittings2024-08-3110898205ns5:FurnitureFittings2023-08-3110898205ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3110898205ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3110898205ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-08-3110898205ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-08-3110898205ns5:Secured2024-08-3110898205ns5:Secured2023-08-31
REGISTERED NUMBER: 10898205 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Ellis Property Limited

Ellis Property Limited (Registered number: 10898205)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ellis Property Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: S A Ellis





REGISTERED OFFICE: 45 The Oaks
Abbeymead
Gloucester
Gloucestershire
GL4 5WP





REGISTERED NUMBER: 10898205 (England and Wales)





ACCOUNTANTS: HATS Gloucester Ltd
48 Hucclecote Road
Gloucester
Gloucestershire
GL3 3RS

Ellis Property Limited (Registered number: 10898205)

Statement of Financial Position
31 August 2024

31/8/24 31/8/23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 690,376 445,000
690,376 445,000

CURRENT ASSETS
Debtors 6 34 1,319
Cash at bank 544 2,267
578 3,586
CREDITORS
Amounts falling due within one year 7 261,521 238,724
NET CURRENT LIABILITIES (260,943 ) (235,138 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

429,433

209,862

CREDITORS
Amounts falling due after more than one
year

8

(383,243

)

(166,505

)

PROVISIONS FOR LIABILITIES (11,564 ) (9,553 )
NET ASSETS 34,626 33,804

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 63,403 59,685
Retained earnings (28,877 ) (25,981 )
SHAREHOLDERS' FUNDS 34,626 33,804

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Ellis Property Limited (Registered number: 10898205)

Statement of Financial Position - continued
31 August 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2025 and were signed by:





S A Ellis - Director


Ellis Property Limited (Registered number: 10898205)

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


1. STATUTORY INFORMATION

Ellis Property 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 represents rental income due for the accounting period from the investment properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Income Statement.

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 and 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
Despite net current liabilities of £260,943 (2023 - £235,138), the financial statements have been prepared on a going concern basis. The directors have reviewed the future cash flows of the business and have expressed their intention to financially support the company for the foreseeable future, deeming the going concern basis of preparation to be appropriate.

3. EMPLOYEES AND DIRECTORS

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

Ellis Property Limited (Registered number: 10898205)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
Cost
At 1 September 2023 8,514
Disposals (2,600 )
At 31 August 2024 5,914
Depreciation
At 1 September 2023 8,514
Eliminated on disposal (2,600 )
At 31 August 2024 5,914
Net book value
At 31 August 2024 -
At 31 August 2023 -

5. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 September 2023 445,000
Additions 237,358
Revaluations 8,018
At 31 August 2024 690,376
Net book value
At 31 August 2024 690,376
At 31 August 2023 445,000

If investment properties had not been revalued they would have been included at the historical cost of
£605,839 (2023 - £368,481).

The director has reviewed the local property market and made enquiries with local agents to determine the fair value value of the investment properties. Based upon this review, the fair value of investment property has increased slightly during the year as shown above.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Other debtors 34 1,319

Ellis Property Limited (Registered number: 10898205)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/24 31/8/23
£    £   
Trade creditors 840 643
Other creditors 260,681 238,081
261,521 238,724

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/8/24 31/8/23
£    £   
Other creditors 383,243 166,505

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 383,243 166,505

9. SECURED DEBTS

The following secured debts are included within creditors:

31/8/24 31/8/23
£    £   
Other loans 383,243 166,505

The loans are secured by fixed charges over all of the company's investment properties.

10. RELATED PARTY DISCLOSURES

S A Ellis
Director

The director has loaned funds to the company. At 31 August 2024, the company owed the director £166,670 (2023 - £198,623). The loan is interest free with no fixed repayment terms.

G Ellis
Former Director

The former director has loaned funds to the company. At 31 August 2024, the company owed the former director £33,144 (2023 - £38,738). The loan is shown in other creditors and is interest free with no fixed repayment terms.

Ellis Property Solutions Limited
Company fully owned by the director

During the year the above company purchased a property on behalf of Ellis Property Ltd and the loan of £60,026 is still outstanding at 31 August 2024. The loan is shown in other creditors and is interest free with no fixed repayment terms.