EH9 Property Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11416657 (England and Wales)

EH9 PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Moore

Mrs K J Moore

REGISTERED OFFICE:

Station House

North Street

Havant

Hampshire

PO9 1QU

REGISTERED NUMBER:

11416657 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Intangible assets

4

5,656

7,542

Tangible assets

5

3,619

10,404

Investment property

6

1,150,000

1,043,796

1,159,275

1,061,742

CURRENT ASSETS

Cash at bank

174,176

9,421

CREDITORS

Amounts falling due within one year

7

565,381

688,301

NET CURRENT LIABILITIES

(391,205

)

(678,880

)

TOTAL ASSETS LESS CURRENT LIABILITIES

768,070

382,862

CREDITORS

Amounts falling due after more than one year

8

(846,492

)

(575,168

)

PROVISIONS FOR LIABILITIES

(20,179

)

-

NET LIABILITIES

(98,601

)

(192,306

)

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

86,025

-

Retained earnings

(184,726

)

(192,406

)

(98,601

)

(192,306

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 March 2023 and were signed on its behalf by:

S J Moore - Director

1.	STATUTORY INFORMATION

EH9 Property 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 represents rents receivable during the period. Rental income is recognised on the basis of amounts due in the period.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Franchise fee are being amortised evenly over their estimated useful life of seven years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Going concern

The company has the continued financial support of its directors, who have agreed not to request repayment of the loan until the company has the funds available. On this basis the directors of EH9 Property Limited considers it appropriate to prepare accounts on the going concern basis. The financial statements do not include any adjustments that would result in the company suffering further trading losses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2021

and 30 June 2022

13,200

AMORTISATION

At 1 July 2021

5,658

Charge for year

1,886

At 30 June 2022

7,544

NET BOOK VALUE

At 30 June 2022

5,656

At 30 June 2021

7,542

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2021

and 30 June 2022

20,356

DEPRECIATION

At 1 July 2021

9,952

Charge for year

6,785

At 30 June 2022

16,737

NET BOOK VALUE

At 30 June 2022

3,619

At 30 June 2021

10,404

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2021

1,043,796

Revaluations

106,204

At 30 June 2022

1,150,000

NET BOOK VALUE

At 30 June 2022

1,150,000

At 30 June 2021

1,043,796

Fair value at 30 June 2022 is represented by:

£

Valuation in 2022

106,204

Cost

1,043,796

1,150,000

If investment property had not been revalued it would have been included at the following historical cost:

2022

2021

£

£

Cost

1,043,796

1,043,796

Investment property was valued on an open market basis on 30 June 2022 by the directors .

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

-

1,366

Other creditors

565,381

686,935

565,381

688,301

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Other creditors

846,492

575,168