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Registration number: 09957980

ECRS Property Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 January 2025

 

ECRS Property Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 5

 

ECRS Property Limited

Company Information

Directors

B Kfir

A J Israel

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Bankers

Metro Bank

Nedbank London

 

ECRS Property Limited

(Registration number: 09957980)
Abridged Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Investment property

2,785,000

2,715,000

Current assets

 

Debtors

53,984

248,126

Cash at bank and in hand

 

211,716

154,242

 

265,700

402,368

Creditors: Amounts falling due within one year

(792,393)

(782,152)

Net current liabilities

 

(526,693)

(379,784)

Total assets less current liabilities

 

2,258,307

2,335,216

Creditors: Amounts falling due after more than one year

(1,215,500)

(1,395,500)

Provisions for liabilities

(270,844)

(194,786)

Net assets

 

771,963

744,930

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

793,734

779,144

Retained earnings

(21,871)

(34,314)

Shareholders' funds

 

771,963

744,930

For the financial year ending 31 January 2025 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 accounts 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 accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

ECRS Property Limited

(Registration number: 09957980)
Abridged Balance Sheet as at 31 January 2025

Approved and authorised by the Board on 6 June 2025 and signed on its behalf by:
 

.........................................
B Kfir
Director

   
     
 

ECRS Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

1

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 abridged 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 abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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 and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

 

ECRS Property Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 January 2025

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

3

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 31 January 2025

Investment properties

2025
£

At 1 February

2,715,000

Additions

345,052

Disposals

(289,642)

Fair value adjustments

14,590

At 31 January

2,785,000

Investment property comprises £2,785,000 (2024 - £2,715,000). The fair value of the investment property has been arrived at on a basis of a valuation carried out on 31st January 2025 by a director of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If investment properties were stated at historical cost basis rather than a fair value basis, the amounts would have been included as follows: £1,991,267 (2024 - £1,935,857)

4

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100