ACCOUNTS - Final Accounts preparation

Company Registration Number: 15035790

ELTERWATER FIRBANK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

ELTERWATER FIRBANK LIMITED

REGISTERED NUMBER: 15035790

BALANCE SHEET
Registered Number 15035790

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Investments			1,200,000		1,200,000
			1,200,000		1,200,000
Current assets
Debtors: amounts falling due within one year	6	50,828		20,771
		50,828		20,771
Creditors: amounts falling due within one year		(48,510)		(5,186)
Net current assets			2,318		15,585
Total assets less current liabilities			1,202,318		1,215,585

Net assets			1,202,318		1,215,585

Capital and reserves
Called up share capital	1,200,000	1,200,000
Profit and loss account	2,318	15,585
	1,202,318	1,215,585

The directors consider 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 directors acknowledge their 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 by:

................................................ A J Gibb	................................................ S J Sims
Director	Director

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ELTERWATER FIRBANK LIMITED

REGISTERED NUMBER: 15035790

BALANCE SHEET
Registered Number 15035790 (CONTINUED)

AS AT 31 MARCH 2025

Date: 23 December 2025

The notes on pages 3 to 5 form part of these financial statements.

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ELTERWATER FIRBANK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Elterwater Firbank Limited's formerly Burlington Slate Firbank Limited's principal activity is renting out properties. The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cavendish House, Kirkby-In-Furness, LA17 7UN.

The prior period is for the period from incorporation (28 July 2023) to 31 March 2024.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.

2.3

Taxation

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 balance sheet date in the countries where the Company operates and generates income.

2.4

Investment property

Investment property is carried at fair value determined annually by external valuers 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.

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ELTERWATER FIRBANK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).

4.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 April 2024	1,200,000
	At 31 March 2025	1,200,000

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ELTERWATER FIRBANK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Investment property

The fair value of the investment property at 31 March 2025 of £1,200,000 has been arrived at on the basis of a valuation carried out by the directors having received professional advice. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

Debtors

					2025	2024
					£	£


Trade debtors	4,438	-
Other debtors	46,390	20,771
	50,828	20,771

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Corporation tax	-	5,186
Other taxation and social security	82	-
Other creditors	48,428	-
	48,510	5,186

8.	Controlling party

The company is ultimately controlled by Elterwater Firbank Holdings Limited, which has its registered office at Cavendish House, Kirkby-in-Furness, Cumbria, LA17 7UN.

From incorporation until 5 September 2023 Burlington Slate Limited served as the immediate parent undertaking. Effective from 5 September Elterwater Firbank Holdings became the ultimate controlling party.

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