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 2021
El Nido Properties Ltd Unaudited accounts Contents
Page
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El Nido Properties Ltd Company Information for the year ended 30 April 2021
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 2021
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 2021 as set out on pages 5 - 7 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 24 August 2021
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El Nido Properties Ltd Statement of financial position as at 30 April 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Investment property
4
320,435 
156,147 
Current assets
Debtors
5
- 
1,040 
Cash at bank and in hand
4,272 
2,376 
4,272 
3,416 
Creditors: amounts falling due within one year
6
(199,784)
(128,350)
Net current liabilities
(195,512)
(124,934)
Total assets less current liabilities
124,923 
31,213 
Creditors: amounts falling due after more than one year
7
(105,182)
(42,807)
Net assets/(liabilities)
19,741 
(11,594)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
19,641 
(11,694)
Shareholders' funds
19,741 
(11,594)
For the year ending 30 April 2021 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 21 December 2021 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 2021
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.
4
Investment property
2021 
£ 
Fair value at 1 May 2020
156,147 
Additions
188,767 
Disposals
(46,910)
Net gain from fair value adjustments
22,431 
At 30 April 2021
320,435 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Accrued income and prepayments
- 
1,040 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Other creditors
4,000 
- 
Loans from directors
194,764 
128,305 
Accruals
1,020 
45 
199,784 
128,350 
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El Nido Properties Ltd Notes to the Accounts for the year ended 30 April 2021
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
105,182 
42,807 
Aggregate of amounts that fall due for payment after five years
833 
- 
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 cover the interest due of £63 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
Average number of employees
During the year the average number of employees was 0 (2020: 0).
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