Elliot House Apartments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08495735 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

ELLIOT HOUSE APARTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G Artimadis

Miss G Ktori

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

08495735 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Tangible assets

4

310,500

310,500

Investment property

5

82,026

82,026

392,526

392,526

CURRENT ASSETS

Debtors

6

25,647

46,745

Cash at bank and in hand

61,103

9,137

86,750

55,882

CREDITORS

Amounts falling due within one year

7

44,464

37,350

NET CURRENT ASSETS

42,286

18,532

TOTAL ASSETS LESS CURRENT LIABILITIES

434,812

411,058

CREDITORS

Amounts falling due after more than one year

8

(380,396

)

(370,761

)

PROVISIONS FOR LIABILITIES

10

(1,748

)

(1,748

)

NET ASSETS

52,668

38,549

CAPITAL AND RESERVES

Called up share capital

11

100

100

Fair value reserve

12

24,685

24,685

Retained earnings

27,883

13,764

SHAREHOLDERS' FUNDS

52,668

38,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2022 and were signed on its behalf by:

Miss G Ktori - Director

1.	STATUTORY INFORMATION

Elliot House Apartments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the rents received or receivable. The company is not registered for value added tax purposes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Government grants

Government grants represent income received in the form of the first year of interest for the company on the Bounce Back Loan (BBL) it received during the year.

The grants are recognised on the accruals basis in the same period as the expenditure that it is expected to compensate for.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Property

£

COST OR VALUATION

At 1 May 2020

and 30 April 2021

310,500

NET BOOK VALUE

At 30 April 2021

310,500

At 30 April 2020

310,500

Cost or valuation at 30 April 2021 is represented by:

Freehold

Property

£

Valuation in 2017

26,433

Cost

284,067

310,500

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2020

and 30 April 2021

82,026

NET BOOK VALUE

At 30 April 2021

82,026

At 30 April 2020

82,026

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Other debtors

10,000

30,000

Amount due from related company

15,000

15,000

Prepayments

647

1,745

25,647

46,745

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

19,224

19,224

Trade creditors

4,376

5,136

Tax

9,318

5,711

Tenants deposits

3,750

3,750

Directors' current accounts

3,772

257

Deferred income

2,225

2,225

Accrued expenses

1,799

1,047

44,464

37,350

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans - 1-2 years

38,448

38,448

Bank loans more 5 yr by instal

341,948

332,313

380,396

370,761

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

341,948

332,313

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Bank loans

399,620

389,985

The loans are secured by a first legal charge over the freehold and investment properties of the company.

10.	PROVISIONS FOR LIABILITIES

30.4.21

30.4.20

£

£

Deferred tax

1,748

1,748

Deferred

tax

£

Balance at 1 May 2020

1,748

Balance at 30 April 2021

1,748

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.21

30.4.20

value:

£

£

100

Ordinary Shares

£1

100

100

12.

RESERVES

Fair

value

reserve

£

At 1 May 2020

and 30 April 2021

24,685