REGISTERED NUMBER: 10294043 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

EMILY PROPERTIES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

L Clarke

REGISTERED OFFICE:

Gainsborough

Park Drive

Hale

Cheshire

WA15 9DH

REGISTERED NUMBER:

10294043 (England and Wales)

ACCOUNTANTS:

Fairhurst Accountants Ltd

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Tangible assets

4

20,525

24,147

Investments

5

251,300

251,300

Investment property

6

2,235,406

2,235,406

2,507,231

2,510,853

CURRENT ASSETS

Debtors

7

212,428

212,321

Cash at bank

47,126

24,425

259,554

236,746

CREDITORS

Amounts falling due within one year

8

1,510,657

1,590,669

NET CURRENT LIABILITIES

(1,251,103

)

(1,353,923

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,256,128

1,156,930

CAPITAL AND RESERVES

Called up share capital

13,200

13,200

Share premium

246,800

246,800

Retained earnings

996,128

896,930

SHAREHOLDERS' FUNDS

1,256,128

1,156,930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

L Clarke - Director

1.	STATUTORY INFORMATION

Emily Properties 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.

Preparation of consolidated financial statements

The financial statements contain information about Emily Properties Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is stated as gross rental income received on investment property.

Tangible fixed assets

Tangible fixed assets are recorded at cost less depreciation and impairment.

Depreciation is provided at the following annual rates in order to write off the cost less estimated value of each asset over its estimated useful life.

Fixtures and fittings

-

15% reducing balance

Impairment of assets

At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investments in subsidiaries

Investments in subsidiaries are accounted for at cost less impairment.

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.

Financial instruments

Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Short term trade creditors including directors loan accounts are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

49,984

DEPRECIATION

At 1 January 2024

25,837

Charge for year

3,622

At 31 December 2024

29,459

NET BOOK VALUE

At 31 December 2024

20,525

At 31 December 2023

24,147

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

251,300

NET BOOK VALUE

At 31 December 2024

251,300

At 31 December 2023

251,300

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

2,235,406

NET BOOK VALUE

At 31 December 2024

2,235,406

At 31 December 2023

2,235,406

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

11,049

11,425

Other debtors

201,379

200,896

212,428

212,321

Included in Other debtors, is an amount of £181,412 (2023: £181,412) that is secured against a property in a connected company.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

1,346

Amounts owed to related undertakings

37,237

58,363

Tax

25,000

16,167

Directors' current accounts

1,184,544

1,250,918

Accrued expenses

263,876

263,875

1,510,657

1,590,669

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.