Registration number:
Residence One Ennismore Garden Mews Limited
for the Period from 2 November 2023 to 30 June 2024
Residence One Ennismore Garden Mews Limited
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
Residence One Ennismore Garden Mews Limited
Company Information
Directors |
Ms Katrina Graham Mr Omran Abdulrahman Saad Al Rashid Mr Suliman Abdulrahman Saad Al Rashid |
Registered office |
|
Auditors |
|
Residence One Ennismore Garden Mews Limited
(Registration number: 15256763) (England and Wales)
Balance Sheet as at 30 June 2024
Note |
2024 |
|
Current assets |
||
Stocks |
|
|
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Total assets less current liabilities |
|
|
Creditors: Amounts falling due after more than one year |
( |
|
Net liabilities |
( |
|
Capital and reserves |
||
Called up share capital |
1 |
|
Retained earnings |
(6,250) |
|
Shareholders' deficit |
(6,249) |
The financial statements were approved and authorised for issue by the
......................................... |
Residence One Ennismore Garden Mews Limited
Notes to the Financial Statements for the Period from 2 November 2023 to 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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.
Residence One Ennismore Garden Mews Limited
Notes to the Financial Statements for the Period from 2 November 2023 to 30 June 2024 (continued)
2 |
Accounting policies (continued) |
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
2025-59-UK
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.
Stocks
Inventories are measured at the lower of cost and net realisable value (NRV) being estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, costs include a relevant proportion of overheads according to the stage of completion.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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.
Residence One Ennismore Garden Mews Limited
Notes to the Financial Statements for the Period from 2 November 2023 to 30 June 2024 (continued)
2 |
Accounting policies (continued) |
Financial instruments
Classification
Recognition and measurement
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
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.
Staff numbers |
The average monthly number of persons employed by the company (including directors) during the period, was
There was no remuneration paid to the staff.
Residence One Ennismore Garden Mews Limited
Notes to the Financial Statements for the Period from 2 November 2023 to 30 June 2024 (continued)
Stocks |
2024 |
|
Other inventories |
|
Other inventories represents costs for the property development. Within work in progress is £50,681 of interest costs capitalised towards the development of the property.
Debtors |
Note |
2024 |
|
Amounts owed by related parties |
|
|
Other debtors |
|
|
Prepayments |
|
|
|
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
|
Due within one year |
||
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Accruals and deferred income |
|
|
|
Creditors: amounts falling due after more than one year
Note |
2024 |
|
Due after one year |
||
Loans and borrowings |
|
Residence One Ennismore Garden Mews Limited
Notes to the Financial Statements for the Period from 2 November 2023 to 30 June 2024 (continued)
Loans and borrowings |
Non-current loans and borrowings
2024 |
|
Other borrowings |
|
Other borrowings is secured by a fixed charge over the property held as stock. The charge contains a negative pledge.
Financial commitments, guarantees and contingencies |
The total amount contracted for but not provided in the financial statements was £2,246,735
Share capital |
Allotted, called up and fully paid shares
2024 |
||
No. |
£ |
|
|
|
1 |
Related party transactions |
The Company has taken advantage of the exemptions available in FRS 102 1A from disclosing related party transactions with other companies that are wholly owned within the Group.
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The ultimate controlling party is