El Nido Properties Ltd

El Nido Properties Ltd

EL NIDO PROPERTIES LTD - Company Information

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Company Registration No. 11301153 (England and Wales)
El Nido Properties Ltd Unaudited accounts for the year ended 30 April 2022
El Nido Properties Ltd Unaudited accounts Contents
Page
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El Nido Properties Ltd Company Information for the year ended 30 April 2022
Directors
Diana Lee Barden Roy Charles Hancock
Company Number
11301153 (England and Wales)
Registered Office
48 MELVIN WAY HISTON CAMBRIDGE CB24 9HY ENGLAND
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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El Nido Properties Ltd Accountants' report
Accountants' report to the board of directors of El Nido Properties Ltd on the preparation of the unaudited statutory accounts for the year ended 30 April 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of El Nido Properties Ltd for the year ended 30 April 2022 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of El Nido Properties Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of El Nido Properties Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than El Nido Properties Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that El Nido Properties Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of El Nido Properties Ltd. You consider that El Nido Properties Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of El Nido Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 3 January 2023
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El Nido Properties Ltd Statement of financial position as at 30 April 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
5,867 
- 
Investment property
5
374,133 
320,435 
380,000 
320,435 
Current assets
Cash at bank and in hand
99,208 
4,272 
Creditors: amounts falling due within one year
6
(232,340)
(199,784)
Net current liabilities
(133,132)
(195,512)
Total assets less current liabilities
246,868 
124,923 
Creditors: amounts falling due after more than one year
7
(203,753)
(105,182)
Net assets
43,115 
19,741 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
43,015 
19,641 
Shareholders' funds
43,115 
19,741 
For the year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2023 and were signed on its behalf by
Diana Lee Barden Director Company Registration No. 11301153
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El Nido Properties Ltd Notes to the Accounts for the year ended 30 April 2022
1
Statutory information
El Nido Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 11301153. The registered office is 48 MELVIN WAY, HISTON, CAMBRIDGE, CB24 9HY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
33% on cost
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El Nido Properties Ltd Notes to the Accounts for the year ended 30 April 2022
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 May 2021
- 
Additions
6,600 
At 30 April 2022
6,600 
Depreciation
Charge for the year
733 
At 30 April 2022
733 
Net book value
At 30 April 2022
5,867 
5
Investment property
2022 
£ 
Fair value at 1 May 2021
320,435 
Additions
16,056 
Net gain from fair value adjustments
37,642 
At 30 April 2022
374,133 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Other creditors
4,000 
4,000 
Loans from directors
227,320 
194,764 
Accruals
1,020 
1,020 
232,340 
199,784 
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
203,753 
105,182 
Aggregate of amounts that fall due for payment after five years
101,182 
102,015 
In October 2020, the company received a Bounce Back Loan of £5,000, which is a 100% UK Government backed loan. Under the terms of the loan, the fees and interest incurred in the first 12 months are settled on behalf of the company by the UK Government. During this accounting period, grant income of £63 was received to partially cover the interest due on this loan. After the first 12 months, an interest rate of 2.5% is applicable. The initial length of the loan is for six years, with an option to extend to ten years under the Bounce Back Loan Scheme.
8
Transactions with related parties
At the year end, the company owed the directors £227,320, including interest at 5% pa.
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El Nido Properties Ltd Notes to the Accounts for the year ended 30 April 2022
9
Average number of employees
During the year the average number of employees was 0 (2021: 0).
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