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Registration number: 09870038

EKAT DEVELOPMENTS LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

EKAT DEVELOPMENTS LTD

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

EKAT DEVELOPMENTS LTD

Company Information

Directors

Adrian Michael Smith

Tracey Elizabeth Smith

Registered office

Clarence House
279 Helmshore Road
Haslingden
Rossendale
BB4 4DJ

Accountants

Analytia Partners Limited
Licenced AccountantsPiccadilly Business Centre
Unit C Aldow Enterprise Park
Blackett Street
Manchester
M12 6AE

 

EKAT DEVELOPMENTS LTD

(Registration number: 09870038)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

21,295

25,053

Investment property

5

2,724,056

3,029,306

 

2,745,351

3,054,359

Current assets

 

Debtors

6

14,329

3,640

Cash at bank and in hand

 

8,439

2,860

 

22,768

6,500

Creditors: Amounts falling due within one year

7

(457,925)

(479,343)

Net current liabilities

 

(435,157)

(472,843)

Total assets less current liabilities

 

2,310,194

2,581,516

Creditors: Amounts falling due after more than one year

7

(1,326,354)

(1,326,354)

Provisions for liabilities

(75,284)

(137,393)

Net assets

 

908,556

1,117,769

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

908,554

1,117,767

Shareholders' funds

 

908,556

1,117,769

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 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.

Approved and authorised by the Board on 24 July 2025 and signed on its behalf by:
 

.........................................
Adrian Michael Smith
Director

 

EKAT DEVELOPMENTS LTD

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

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:
Clarence House
279 Helmshore Road
Haslingden
Rossendale
BB4 4DJ

These financial statements were authorised for issue by the Board on 24 July 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.

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.

 

EKAT DEVELOPMENTS LTD

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

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

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.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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

 

EKAT DEVELOPMENTS LTD

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

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.

3

Staff numbers

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

 

EKAT DEVELOPMENTS LTD

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

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 February 2024

38,000

38,000

At 31 January 2025

38,000

38,000

Depreciation

At 1 February 2024

12,947

12,947

Charge for the year

3,758

3,758

At 31 January 2025

16,705

16,705

Carrying amount

At 31 January 2025

21,295

21,295

At 31 January 2024

25,053

25,053

5

Investment properties


 

2025
£

At 1 February

3,029,306

Fair value adjustments

(305,250)

At 31 January

2,724,056


Fair value at 31st January 2025 is represented by:

Fair value adjustments: £244,324
Cost: £2,479,732

6

Debtors

Current

Note

2025
£

2024
£

Amounts owed by related parties

11,600

-

Prepayments

 

1,579

2,490

Other debtors

 

1,150

1,150

   

14,329

3,640

 

EKAT DEVELOPMENTS LTD

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

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

20,000

Taxation and social security

 

10,974

12,003

Accruals and deferred income

 

1,361

1,080

Other creditors

 

445,590

446,260

 

457,925

479,343

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

1,326,354

1,326,354



Loans and borrowings include loans which are secured by fixed and floating charges against the investment properties. The amount outstanding on the loans at the balance sheet date was £1,326,354 (2024: £1,326,354).

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Other borrowings

1,326,354

1,326,354