REGISTERED NUMBER: 09400282 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Elite Prop Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L Moore

P Wilkinson

REGISTERED OFFICE:

Suite 4 Bloxam Court

Corporation Street

Rugby

Warwickshire

CV21 2DU

REGISTERED NUMBER:

09400282 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

FIXED ASSETS

Tangible assets

4

6,281

9,050

Investment property

5

2,555,000

2,905,000

2,561,281

2,914,050

CURRENT ASSETS

Debtors

6

121,954

116,623

Cash at bank

2,004

1,887

123,958

118,510

CREDITORS

Amounts falling due within one year

7

(507,075

)

(729,667

)

NET CURRENT LIABILITIES

(383,117

)

(611,157

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,178,164

2,302,893

CREDITORS

Amounts falling due after more than one year

8

(1,256,368

)

(1,419,978

)

PROVISIONS FOR LIABILITIES

(35,950

)

(64,032

)

NET ASSETS

885,846

818,883

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

10

143,798

256,129

Retained earnings

742,046

562,752

885,846

818,883

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 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.

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 12 December 2025 and were signed on its behalf by:

L Moore - Director

1.	STATUTORY INFORMATION

Elite Prop Company Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover relates to rental income arising from property letting. Rental income is recognised in the period to which it relates. Rents due but not received at the balance sheet date is accrued and included in debtors. Rents received in advance at the balance sheet date are deferred and included in creditors.

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

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

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and ordinary shares, which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value, with changes recognised in profit and 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

16,029

Additions

828

At 31 March 2025

16,857

DEPRECIATION

At 1 April 2024

6,979

Charge for year

3,597

At 31 March 2025

10,576

NET BOOK VALUE

At 31 March 2025

6,281

At 31 March 2024

9,050

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,905,000

Disposals

(350,000

)

At 31 March 2025

2,555,000

NET BOOK VALUE

At 31 March 2025

2,555,000

At 31 March 2024

2,905,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

2,555,000

The company includes investment property at market value at the balance sheet date as assessed by the directors of the company.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

2,851

-

Other debtors

119,103

116,623

121,954

116,623

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

9,634

1,966

Taxation and social security

48,303

47,194

Other creditors

449,138

680,507

507,075

729,667

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,256,368

1,419,978

31.3.25

31.3.24

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more than 5 years

1,256,368

1,419,978

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

1,256,368

1,419,978

Bank loans are secured by way of a charge over the company's investment property.

10.

RESERVES

Fair

value

reserve

£

At 1 April 2024

256,129

Revaluation

(112,331

)

At 31 March 2025

143,798

11.	RELATED PARTY DISCLOSURES

At the balance sheet date an amount of £432,894 (2024 : £655,388) was due to a company under common control relating to funding provided. The amount is interest bearing, unsecured and repayable on demand. At 31 March 2025 the balances owed to companies under common control are as follows:

Name of entity

Amount owed to the company

Medical Elite Recruitment & Practice Sales Ltd

£432,895

12.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.