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ELYSIAN RESIDENCES LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2021
Elysian Residences Limited is a private limited liability company registered in England and Wales. Its registered office and business address is 112-116 New Oxford Street, London, WC1A 1HH.
The principal activity of the company is that of a holding company. The company was dormant during the year.
The company's functional and presentational currency is £ Sterling.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Investments in subsidiaries are measured at cost less accumulated impairment.
The company only enters into transactions that result in basic financial instruments such as other debtors, other creditors and loans with related parties.
Other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. 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 other debtors and loans to related parties.
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The average monthly number of employees, including directors, during the year was 2 (2020 - 2).
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