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Registered number: 09089623
Eleven Eleven Property Limited
Unaudited Financial Statements
For The Year Ended 30 November 2024
Bridgepoint Accountants Limited
16 New Street
Stourport on Severn
Worcestershire
DY13 8UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09089623
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,208 3,144
Investments 5 100 100
2,308 3,244
CURRENT ASSETS
Stocks 6 49,976 56,663
Debtors 7 165,693 185,756
Cash at bank and in hand 1,087 6,976
216,756 249,395
Creditors: Amounts Falling Due Within One Year 8 (150,730 ) (168,257 )
NET CURRENT ASSETS (LIABILITIES) 66,026 81,138
TOTAL ASSETS LESS CURRENT LIABILITIES 68,334 84,382
Creditors: Amounts Falling Due After More Than One Year 9 (5,000 ) (15,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (420 ) (597 )
NET ASSETS 62,914 68,785
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 62,814 68,685
SHAREHOLDERS' FUNDS 62,914 68,785
Page 1
Page 2
For the year ending 30 November 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gavin Warr
Director
19/08/2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Eleven Eleven Property Limited is a private company, limited by shares, incorporated in England & Wales, registered number 09089623 . The registered office is Park Acre, Church Lane, Hallow, Worcestershire, WR2 6PF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Computer Equipment 3 years straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
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4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 December 2023 5,500 6,157 11,657
As at 30 November 2024 5,500 6,157 11,657
Depreciation
As at 1 December 2023 3,832 4,681 8,513
Provided during the period 334 602 936
As at 30 November 2024 4,166 5,283 9,449
Net Book Value
As at 30 November 2024 1,334 874 2,208
As at 1 December 2023 1,668 1,476 3,144
5. Investments
Unlisted
£
Cost
As at 1 December 2023 100
As at 30 November 2024 100
Provision
As at 1 December 2023 -
As at 30 November 2024 -
Net Book Value
As at 30 November 2024 100
As at 1 December 2023 100
6. Stocks
2024 2023
£ £
Work in progress 49,976 56,663
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,379 -
Prepayments and accrued income 1,748 1,696
Other debtors - 990
Corporation tax recoverable assets 47,969 47,969
VAT 4,609 2,761
Directors' loan accounts 102,964 132,340
Amounts owed by subsidiaries 24 -
165,693 185,756
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 32,728 55,428
Bank loans and overdrafts 10,000 10,000
Corporation tax 55,569 55,569
Other taxes and social security 11,346 10,787
Other creditors 25,000 25,000
Accruals and deferred income 12,787 10,537
Directors' loan accounts 3,300 -
Amounts owed to subsidiaries - 936
150,730 168,257
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 5,000 15,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2023 Amounts advanced Amounts repaid Amounts written off As at 30 November 2024
£ £ £ £ £
Mr Stuart Andrews 103,062 75 173 - 102,964
Mr Gavin Warr 29,278 16,105 48,683 - (3,300 )
The above loans are unsecured, interest free and repayable on demand.
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