Company Registration No. 11982254 (England and Wales)
ELPIDA PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
ELPIDA PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
ELPIDA PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Investment property
3
144,000
144,000
Current assets
Cash at bank and in hand
58,580
61,481
Creditors: amounts falling due within one year
4
(158,445)
(158,253)
Net current liabilities
(99,865)
(96,772)
Total assets less current liabilities
44,135
47,228
Creditors: amounts falling due after more than one year
5
(102,847)
(102,441)
Provisions for liabilities
8,865
8,200
Net liabilities
(49,847)
(47,013)
Capital and reserves
Called up share capital
100
100
Distributable profit and loss reserves
(49,947)
(47,113)
Total equity
(49,847)
(47,013)
ELPIDA PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MAY 2025
31 May 2025
- 2 -

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 23 February 2026 and are signed on its behalf by:
Mr K Law
Director
Company registration number 11982254 (England and Wales)
ELPIDA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 3 -
1
Accounting policies
Company information

Elpida Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor 3 & 4 Cranmere Court , Lustleigh Close, Matford Business Park , Exeter, Devon, EX2 8PW.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ELPIDA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
ELPIDA PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
3
Investment property
2025
£
Fair value
At 1 June 2024 and 31 May 2025
144,000

The directors have revalued the property and deem the amount at the balance sheet date to be the current market value.

There has been no valuation of the investment property by an independent valuer.

4
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
156,971
156,659
Accruals and deferred income
1,474
1,594
158,445
158,253
5
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
102,847
102,441

The bank loan is secured by way of a fixed charge against the company's investment property.

6
Related party transactions
2025
2024
Amounts due to related parties
£
£
Key management personnel
156,971
156,659

No interest has been charged on this balance and there are no fixed dates for repayment,

2025-05-31 2024-06-01 false false false 23 February 2026 CCH Software CCH Accounts Production 2025.300 No description of principal activity Mr K Law Miss K Pham 11982254 2024-06-01 2025-05-31 11982254 2025-05-31 11982254 2024-05-31 11982254 core:CurrentFinancialInstruments 2025-05-31 11982254 core:CurrentFinancialInstruments 2024-05-31 11982254 core:Non-currentFinancialInstruments 2025-05-31 11982254 core:Non-currentFinancialInstruments 2024-05-31 11982254 core:ShareCapital 2025-05-31 11982254 core:ShareCapital 2024-05-31 11982254 core:RetainedEarningsAccumulatedLosses 2025-05-31 11982254 core:RetainedEarningsAccumulatedLosses 2024-05-31 11982254 bus:Director1 2024-06-01 2025-05-31 11982254 2023-06-01 2024-05-31 11982254 2024-05-31 11982254 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 11982254 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 11982254 bus:FRS102 2024-06-01 2025-05-31 11982254 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 11982254 bus:Director2 2024-06-01 2025-05-31 11982254 bus:FullAccounts 2024-06-01 2025-05-31 xbrli:pure xbrli:shares iso4217:GBP