Company registration number 10884713 (England and Wales)
ELITE PROPERTIES LIVERPOOL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
ELITE PROPERTIES LIVERPOOL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
ELITE PROPERTIES LIVERPOOL LIMITED
BALANCE SHEET
AS AT
24 MARCH 2025
24 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
48,949
20,082
Investment property
5
12,125,862
10,292,957
12,174,811
10,313,039
Current assets
Debtors
6
760,872
677,083
Cash at bank and in hand
46,845
86,132
807,717
763,215
Creditors: amounts falling due within one year
7
(3,274,272)
(2,763,945)
Net current liabilities
(2,466,555)
(2,000,730)
Total assets less current liabilities
9,708,256
8,312,309
Creditors: amounts falling due after more than one year
8
(8,602,473)
(7,248,344)
Provisions for liabilities
(254,978)
(150,750)
Net assets
850,805
913,215
Capital and reserves
Called up share capital
9
101
101
Revaluation reserve
666,516
452,250
Profit and loss reserves
184,188
460,864
Total equity
850,805
913,215
ELITE PROPERTIES LIVERPOOL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
24 MARCH 2025
24 March 2025
- 2 -

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

For the financial year ended 24 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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

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

The financial statements were approved and signed by the director and authorised for issue on 23 March 2026
S Latham
Director
Company registration number 10884713 (England and Wales)
ELITE PROPERTIES LIVERPOOL LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 24 MARCH 2025
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 25 March 2023
101
452,250
604,713
1,057,064
Period ended 24 March 2024:
Loss and total comprehensive income
-
-
(143,849)
(143,849)
Balance at 24 March 2024
101
452,250
460,864
913,215
Period ended 24 March 2025:
Loss and total comprehensive income
-
-
(62,410)
(62,410)
Transfers
-
-
0
(214,266)
(214,266)
Other movements
-
214,266
-
214,266
Balance at 24 March 2025
101
666,516
184,188
850,805
ELITE PROPERTIES LIVERPOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2025
- 4 -
1
Accounting policies
Company information

Elite Properties Liverpool Limited is a private company limited by shares incorporated in England and Wales. The registered office is 509 - 510 Cotton Exchange, Bixteth Street, Liverpool, L3 9LQ.

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
Revenue

Turnover represents rents receivable and similar income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Furniture
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
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.

ELITE PROPERTIES LIVERPOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.7
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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less.

1.8
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.

1.9
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.

ELITE PROPERTIES LIVERPOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
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.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Where relevant, t he cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Where relevant, t ermination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2025
2024
Number
Number
Total
5
5
ELITE PROPERTIES LIVERPOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
- 7 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 25 March 2024
41,356
Additions
44,213
At 24 March 2025
85,569
Depreciation and impairment
At 25 March 2024
21,274
Depreciation charged in the year
15,346
At 24 March 2025
36,620
Carrying amount
At 24 March 2025
48,949
At 24 March 2024
20,082
5
Investment property
2025
£
Fair value
At 25 March 2024
10,292,957
Additions
2,440,580
Disposals
(926,168)
Revaluations
318,493
At 24 March 2025
12,125,862

Investment property comprises residential and commercial properties held for rent.

The fair value of the investment property has been arrived at on the basis of:

- valuations carried out on 25 October 2021, 24 November 2022, 10 June 2024 and 15 July 2024 by MO Valuations, Chartered Surveyors, who are not connected with the company;

- valuations carried out on 28 January 2025, 3 February 2025, 17 March 2025 and 25 March 2025 by M.J. Devine & Associates, Chartered Surveyors, who are not connected with the company;

- a valuation carried out on 24 March 2025 by the director.

The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties.

ELITE PROPERTIES LIVERPOOL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2025
- 8 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
41,332
33,313
Other debtors
719,540
643,770
760,872
677,083
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
4,752
2,892
Trade creditors
29,305
54,555
Amounts owed to group undertakings
617,042
636,851
Taxation and social security
89,496
62,453
Other creditors
2,533,677
2,007,194
3,274,272
2,763,945

Other creditors includes loans totalling £1,303,234 (2024 - £1,167,107) which are secured by charges over the investment property owned by the company.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
3,983,855
3,989,794
Other creditors
4,618,618
3,258,550
8,602,473
7,248,344

Other creditors includes loans totalling £4,318,618 (2024 - £2,908,550) which are secured by charges over the investment property owned by the company.

9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
101
101
101
101
10
Parent company

The company is a wholly owned subsidiary of Elite Estate Developments Limited, a company registered in England and Wales.

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