ELS Properties (Finchley) Ltd - Filleted accounts

Registered number

13079293

ELS Properties (Finchley) Ltd

Filleted Accounts

31 December 2024

ELS Properties (Finchley) Ltd
Registered number:		13079293
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Current assets
Stocks		4,160,481			3,346,173
Debtors	3	17,615			21,597
Cash at bank and in hand		758			111,296
		4,178,854			3,479,066

Creditors: amounts falling due within one year	4	(4,159,998)			(1,455,346)

Net current assets			18,856			2,023,720

Total assets less current liabilities			18,856			2,023,720

Creditors: amounts falling due after more than one year	5		-			(1,999,634)



Net assets			18,856			24,086

Capital and reserves
Called up share capital			100			100
Profit and loss account			18,756			23,986

Shareholders' funds			18,856			24,086

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Tsz Ho Ngai
Director
Approved by the board on 23 September 2025

ELS Properties (Finchley) Ltd
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 which is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees	2024		2023
Number			Number

	Average number of persons employed by the company	0		0


3	Debtors	2024		2023
£			£

	Other debtors	17,615		21,597


4	Creditors: amounts falling due within one year	2024		2023
£			£

	Trade creditors	8,250		7,630
	Amounts owed to group undertakings and undertakings in which the company has a participating interest	4,149,447		1,445,356
	Other creditors	2,301		2,360
		4,159,998		1,455,346


5	Creditors: amounts falling due after one year	2024		2023
£			£

	Bank loans	-		1,999,634


6	Related party transactions

	Included within the amounts owed to group undertakings is an amount of £1,445,356 owing to the parent company ELS Capital Limited. The £64,100 owing to the sister company ELS Properties (Dulwich) Limited in the previous year was written off in the current year.


7	Controlling party

	The entity's ultimate controlling party and parent company is ELS Capital Limited. The address and principal place of business of the parent is:
	Unit A, 16/F
	Wing Sing Commercial Centre
	12-16 Wing Lok Street
	Sheung Wan, Hong Kong

8	Other information

	ELS Properties (Finchley) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Ckw Chartered Certified Accountants
	469 Kingsway
	Manchester
	M19 1NR