REGISTERED NUMBER: 08428145 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

89 TO 95 ELGIN AVENUE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G P Gay

SECRETARY:

N J Gay

REGISTERED OFFICE:

30 Harbord Street

London

SW6 6PJ

REGISTERED NUMBER:

08428145 (England and Wales)

ACCOUNTANTS:

Magma Audit LLP

16 Davy Court

Castle Mound Way

Rugby, CV23 0UZ

Magma Audit LLP is part

Of the Dains Group

FIXED ASSETS

Tangible assets

4

380

571

Investments

5

308,325

308,325

Investment property

6

834,237

829,083

1,142,942

1,137,979

CURRENT ASSETS

Debtors

7

245,022

220,555

Cash at bank and in hand

9,892

10,080

254,914

230,635

CREDITORS

Amounts falling due within one year

8

(669,810

)

(563,362

)

NET CURRENT LIABILITIES

(414,896

)

(332,727

)

TOTAL ASSETS LESS CURRENT LIABILITIES

728,046

805,252

CREDITORS

Amounts falling due after more than one year

9

(675,829

)

(690,662

)

NET ASSETS

52,217

114,590

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

120,520

120,520

Retained earnings

(68,403

)

(6,030

)

SHAREHOLDERS' FUNDS

52,217

114,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 September 2025 and were signed by:

G P Gay - Director

1.	STATUTORY INFORMATION

89 to 95 Elgin Avenue Limited is a private company, limited by share capital, registered in England and Wales. The company's registered number is 08428145 and the registered office address is 30 Harbord Street, London, SW6 6PJ.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The presentation currency of the financial statements is Sterling (£) and figures are rounded to the nearest £1.

Turnover

Turnover is measured as the fair value of the consideration received or receivable inclusive of valued added tax. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at cost less depreciation. Cost represents purchase price together with any incidental costs of acquisition.

Depreciation is provided at the following annual rates in order to write off each asset, net of anticipated disposal proceeds, over its estimated useful economic life. Depreciation is charged at the following rates:

Computer equipment -25% straight line

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is recognised in the profit and loss account for the year.

This is in accordance with Section 16 Investment Properties of FRS 102, which unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered

against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

762

DEPRECIATION

At 1 April 2024

191

Charge for year

191

At 31 March 2025

382

NET BOOK VALUE

At 31 March 2025

380

At 31 March 2024

571

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2024

and 31 March 2025

308,325

NET BOOK VALUE

At 31 March 2025

308,325

At 31 March 2024

308,325

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

829,083

Additions

88,680

Disposals

(17,370

)

Revaluations

(66,156

)

At 31 March 2025

834,237

NET BOOK VALUE

At 31 March 2025

834,237

At 31 March 2024

829,083

Fair value at 31 March 2025 is represented by:

£

Cost

834,237

The open market value of the investment properties were considered by the directors at 31 March 2025. They believe the values stated in the accounts are not materially different from the carrying value.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

245,022

220,555

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,376

10,119

Taxation and social security

291

3,727

Other creditors

659,143

549,516

669,810

563,362

Within other creditors is a loan balance of £200,000 which is repayable on demand. Interest is charged on this loan at 2% per annum.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

5,286

15,662

Other creditors

670,543

675,000

675,829

690,662

Other creditors due over one year consist of multiple loan balances which are due for repayment in over 12 months. Interest is charged on these loans at between 2% and 5% per annum.

10.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

G P Gay

Balance outstanding at start of year

8,555

50,055

Amounts advanced

-

47,000

Amounts repaid

(8,555

)

(88,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

8,555

The loan is interest fee and repayable on demand.