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REGISTERED NUMBER: 11058382 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

ELGAR PROPERTY LTD

ELGAR PROPERTY LTD (REGISTERED NUMBER: 11058382)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELGAR PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: J W B Stankiewicz
E R Fredericks





REGISTERED OFFICE: Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU





REGISTERED NUMBER: 11058382 (England and Wales)





ACCOUNTANTS: Lawes & Co
Boyce's Building
40-42 Regent Street
Clifton
Bristol
BS8 4HU

ELGAR PROPERTY LTD (REGISTERED NUMBER: 11058382)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 19,302 23,644
Investment property 5 1,110,000 1,183,542
1,129,302 1,207,186

CURRENT ASSETS
Cash at bank 902 2,193

CREDITORS
Amounts falling due within one year 6 147,632 176,329
NET CURRENT LIABILITIES (146,730 ) (174,136 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

982,572

1,033,050

CREDITORS
Amounts falling due after more than
one year

7

(673,955

)

(675,742

)

PROVISIONS FOR LIABILITIES 9 (62,678 ) (82,150 )
NET ASSETS 245,939 275,158

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 173,559 228,716
Retained earnings 72,280 46,342
SHAREHOLDERS' FUNDS 245,939 275,158

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ELGAR PROPERTY LTD (REGISTERED NUMBER: 11058382)

BALANCE SHEET - continued
30 NOVEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:





J W B Stankiewicz - Director


ELGAR PROPERTY LTD (REGISTERED NUMBER: 11058382)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Elgar Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at fair value of the income from investment property, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

ELGAR PROPERTY LTD (REGISTERED NUMBER: 11058382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 30,667 22,468 3,818 56,953
Additions 4,188 - - 4,188
At 30 November 2024 34,855 22,468 3,818 61,141
DEPRECIATION
At 1 December 2023 27,549 2,809 2,951 33,309
Charge for year 2,986 4,914 630 8,530
At 30 November 2024 30,535 7,723 3,581 41,839
NET BOOK VALUE
At 30 November 2024 4,320 14,745 237 19,302
At 30 November 2023 3,118 19,659 867 23,644

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 1,183,542
Revaluations (73,542 )
At 30 November 2024 1,110,000
NET BOOK VALUE
At 30 November 2024 1,110,000
At 30 November 2023 1,183,542

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2020 4,954
Valuation in 2021 220,000
Valuation in 2022 80,000
Valuation in 2024 (73,542 )
Cost 878,588
1,110,000

ELGAR PROPERTY LTD (REGISTERED NUMBER: 11058382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Other loans 1,791 1,566
Tax 7,083 2,226
Other creditors 642 7,097
Directors' current accounts 135,114 162,443
Accrued expenses 3,002 2,997
147,632 176,329

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans more 5 yr by instal 661,062 661,058
Finance leases 12,893 14,684
673,955 675,742

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 661,062 661,058

8. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Bank loans 661,062 661,058

The bank loans are secured on the company's investment properties. Further details of the charges can be found on the Companies House website.

9. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax
Accelerated capital allowances 4,825 5,911
Other timing differences 57,853 76,239
62,678 82,150

ELGAR PROPERTY LTD (REGISTERED NUMBER: 11058382)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2023 82,150
Accelerated capital allowances
Reversal of timing differences (1,086 )
Tax on revaluations (18,386 )
Balance at 30 November 2024 62,678

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
50 A Ordinary £1 50 50
50 B Ordinary £1 50 50
100 100

11. RELATED PARTY DISCLOSURES

The directors maintain interest free loan accounts with the company. At the balance sheet date, the company owed the directors £135,114 (2023: £162,442).

12. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.