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Registration number: 15256763 (England and Wales)

Residence One Ennismore Garden Mews Limited

Filleted Financial Statements

for the Period from 2 November 2023 to 30 June 2024

 

Residence One Ennismore Garden Mews Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

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

Holbrooke Mews
7 Holbrooke Place
Richmond
TW10 6UD

Auditors

KNAV Limited
Statutory AuditorsHygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

Residence One Ennismore Garden Mews Limited

(Registration number: 15256763) (England and Wales)
Balance Sheet as at 30 June 2024

Note

2024
£

Current assets

 

Stocks

4

4,326,646

Debtors

5

218,035

Cash at bank and in hand

 

220,106

 

4,764,787

Creditors: Amounts falling due within one year

6

(2,394,878)

Total assets less current liabilities

 

2,369,909

Creditors: Amounts falling due after more than one year

6

(2,376,158)

Net liabilities

 

(6,249)

Capital and reserves

 

Called up share capital

9

1

Retained earnings

(6,250)

Shareholders' deficit

 

(6,249)


These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised for issue by the Board on 23 June 2025 and signed on its behalf by:
 

.........................................
Ms Katrina Graham
Director

   
     
 

Residence One Ennismore Garden Mews Limited

Notes to the Financial Statements for the Period from 2 November 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Holbrooke Mews
7 Holbrooke Place
Richmond
TW10 6UD
United Kingdom

These financial statements were authorised for issue by the Board on 23 June 2025.

2

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 Independent Auditor's Report was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 30 June 2025 was Amanjit Singh FCA, who signed for and on behalf of KNAV Limited.

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
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

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
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss if recognised in the Profit and loss account.

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.

3

Staff numbers

The average monthly number of persons employed by the company (including directors) during the period, was 3.

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)

4

Stocks

2024
£

Other inventories

4,326,646

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.
 

5

Debtors

Note

2024
£

Amounts owed by related parties

10

65,749

Other debtors

 

106,425

Prepayments

 

45,861

 

218,035

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Trade creditors

 

99,928

Amounts owed to group undertakings

10

2,264,254

Accruals and deferred income

 

30,696

 

2,394,878

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

7

2,376,158

 

Residence One Ennismore Garden Mews Limited

Notes to the Financial Statements for the Period from 2 November 2023 to 30 June 2024 (continued)

7

Loans and borrowings

Non-current loans and borrowings

2024
£

Other borrowings

2,376,158

Other borrowings is secured by a fixed charge over the property held as stock. The charge contains a negative pledge.

8

Financial commitments, guarantees and contingencies

The total amount contracted for but not provided in the financial statements was £2,246,735

9

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

1

1

   

10

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.

11

Parent and ultimate parent undertaking

The company's immediate parent is R1/Artar, incorporated in England and Wales.

 The ultimate parent is Artar Holding Company Limited, incorporated in British Virgin Islands.

 The ultimate controlling party is Abdulrahman Saad Alrashid.