Company registration number 12407468 (England and Wales)
EXCELSIOR COAST HOMES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
EXCELSIOR COAST HOMES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
EXCELSIOR COAST HOMES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
30 September 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Investment property
3
1,378,724
1,373,194
Current assets
Debtors
4
296
161
Cash at bank and in hand
734
1,320
1,030
1,481
Creditors: amounts falling due within one year
5
(1,434,396)
(1,427,021)
Net current liabilities
(1,433,366)
(1,425,540)
Net liabilities
(54,642)
(52,346)
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(54,742)
(52,446)
Total equity
(54,642)
(52,346)
For the financial Period ended 30 September 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 Period in question in accordance with section 476.
The directors acknowledge their 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.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 15 April 2025 and are signed on its behalf by:
Neophytos Tsangarides
Director
Company registration number 12407468 (England and Wales)
EXCELSIOR COAST HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Excelsior Coast Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1 Queens Parade, Brownlow Road, London, N11 2DN. The principal place of business is Northside House, Mount Pleasant, Cockfosters, EN4 9EB.
1.1
Reporting period
The company shortened the accounting period from 31 December to 30 September to be co-terminus with that of one of the shareholders. Comparative information has not been restated and is therefore not fully comparable.
1.2
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.The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Investment property
Investment property, which is property held to earn 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.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
EXCELSIOR COAST HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
2023
Number
Number
Total
3
Investment property
2024
£
Fair value
At 1 January 2024
1,373,194
Additions
5,530
At 30 September 2024
1,378,724
The company acquired an investment property on 8 January 2021.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
161
Other debtors
296
296
161
5
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals
1,024
729
Treefall Limited
662,441
655,361
Chaseview Hotels Limited
387,612
387,612
Cannonwood investments Limited
383,319
383,319
1,434,396
1,427,021
EXCELSIOR COAST HOMES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 SEPTEMBER 2024
- 4 -
6
Called up share capital
2024
2023
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
7
Ultimate controlling party
The company was controlled throughout the current and previous years by two of the directors' companies, namely Chaseview Hotels Limited (Andrew Elias is a director and an indirect shareholder of that company) and Cannonwood Investments Limited (Neophytos Tsangarides is a director and a direct shareholder of that company) by virtue of the fact that between them, they owned all of the company's issued share capital.