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Registered number: 14447350 ERAIKIN LTD UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 16 FEBRUARY 2025
ERAIKIN LTD
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 6
ERAIKIN LTD REGISTERED NUMBER:14447350
STATEMENT OF FINANCIAL POSITION AS AT 16 FEBRUARY 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 4 |  | 5,000,000 |  | 5,000,000
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 506,148 |  | 445,889 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 6 | (4,553,357) |  | (3,958,992) |
Net current liabilities |  |  | (4,047,209) |  | (3,513,103)
Total assets less current liabilities |  |  | 952,791 |  | 1,486,897
Provisions for liabilities |  |  |  |  |
Deferred tax | 7 | (440,679) |  | (440,679) |
|  |  | (440,679) |  | (440,679)
Net assets |  |  | 512,112 |  | 1,046,218
Capital and reserves |  |  |  |  |
Called up share capital | 8 |  | 100 |  | 100
Revaluation reserve |  |  | 1,322,038 |  | 1,322,038
Profit and loss account |  |  | (810,026) |  | (275,920)
|  |  | 512,112 |  | 1,046,218
Page 1
ERAIKIN LTD REGISTERED NUMBER:14447350
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 16 FEBRUARY 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 September 2025.
F Clymans
Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
ERAIKIN LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 16 FEBRUARY 2025
1. | General information
Eraikin Limited is a private limited liability company registered in England & Wales. Its registered office is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD. Its principle place of business address is Legacy Business Centre, Suite 221, 2a, Ruckholt Road, London, E10 5NP. The company's functional and presentational currency is £ Sterling. The principal activity of the company was that of property investment. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
The company made a loss for the year and at the balance sheet date has net current liabilities. The directors have obtained assurance from the shareholders that funds will be made available to the company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have therefore been prepared under the going concern basis.
| 2.3 | Turnover
Turnover comprises revenue recognised by the company in respect of rent receivable. Rent is recognised in respect of the properties occupied during the period.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.
| 2.5 | Investment property
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. Page 3
ERAIKIN LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 16 FEBRUARY 2025 2.Accounting policies (continued)
| 2.6 | Basic Financial instruments
The company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash and cash equivalents and loans to or from related parties. Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. Cash and cash equivalents comprise cash balances and call deposits.
| 2.7 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
Page 4
ERAIKIN LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 16 FEBRUARY 2025
4. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 17 February 2024 | 5,000,000
| At 16 February 2025 | 5,000,000
The 2025 valuations were made by the director, on an open market value for existing use basis.
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 289,213 | 289,213
| Prepayments and accrued income | 216,935 | 156,676
|  | 506,148 | 445,889
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other creditors | 3,543,357 | 3,509,266
| Accruals and deferred income | 1,010,000 | 449,726
|  | 4,553,357 | 3,958,992
Page 5
ERAIKIN LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 16 FEBRUARY 2025
7. | Deferred taxation
|  | 2025 | 2024
|  | £ | £
| At beginning of year | 440,679 | -
| Charged to profit or loss | - | 440,679
| At end of year | 440,679 | 440,679
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Fair value gain on investment property | 440,679 | 440,679
8. | Share capital
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 1,000 (2024 - 1,000) Ordinary shares of £0.1 each | 100 | 100
Page 6