Edel Properties Limited Filleted accounts for Companies House (small and micro)

EDEL PROPERTIES LIMITED - Company Information

0 false false false false false false false false false true true false false false false false No description of principal activity 2020-12-23 Sage Accounts Production Advanced 2021 - FRS102_2021 72,602,592 72,602,592 72,602,592 xbrli:pure xbrli:shares iso4217:EUR 13098478 2020-12-23 2021-12-31 13098478 2021-12-31 13098478 bus:RegisteredOffice 2020-12-23 2021-12-31 13098478 bus:Director1 2020-12-23 2021-12-31 13098478 bus:Director2 2020-12-23 2021-12-31 13098478 bus:Director3 2020-12-23 2021-12-31 13098478 core:AfterOneYear 2021-12-31 13098478 core:WithinOneYear 2021-12-31 13098478 core:ShareCapital 2021-12-31 13098478 core:SharePremium 2021-12-31 13098478 core:RetainedEarningsAccumulatedLosses 2021-12-31 13098478 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2021-12-31 13098478 core:CostValuation core:Non-currentFinancialInstruments 2021-12-31 13098478 core:Non-currentFinancialInstruments 2021-12-31 13098478 bus:SmallEntities 2020-12-23 2021-12-31 13098478 bus:AuditExempt-NoAccountantsReport 2020-12-23 2021-12-31 13098478 bus:FullAccounts 2020-12-23 2021-12-31 13098478 bus:SmallCompaniesRegimeForAccounts 2020-12-23 2021-12-31 13098478 bus:PrivateLimitedCompanyLtd 2020-12-23 2021-12-31 13098478 core:OtherRelatedParties 2020-12-23 2021-12-31

COMPANY REGISTRATION NUMBER: 13098478

EDEL PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2021

EDEL PROPERTIES LIMITED

FINANCIAL STATEMENTS

PERIOD FROM 23 DECEMBER 2020 TO 31 DECEMBER 2021

CONTENTS	PAGE

Officers and professional advisers	1

Balance sheet	2

Notes to the financial statements	3

EDEL PROPERTIES LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

THE BOARD OF DIRECTORS	Mrs R J Berkovits
	Mr D Edelstein
	Mrs S Feldman

REGISTERED OFFICE	New Burlington House
	1075 Finchley Road
	London
	NW11 0PU

EDEL PROPERTIES LIMITED

BALANCE SHEET

31 December 2021

	31 Dec 21
Note	€	€

FIXED ASSETS

Investments	5		72,602,592

CURRENT ASSETS

Debtors	6	678,148

CREDITORS: amounts falling due within one year	7	( 1,863,550)
		-------------
NET CURRENT LIABILITIES			( 1,185,402)
			---------------
TOTAL ASSETS LESS CURRENT LIABILITIES			71,417,190

CREDITORS: amounts falling due after more than one year	8	( 24,625,252)
		---------------
NET ASSETS		46,791,938
		---------------

CAPITAL AND RESERVES

Called up share capital		4,424
Share premium account		48,389,580
Profit and loss account		( 1,602,066)
		---------------
SHAREHOLDERS FUNDS		46,791,938
		---------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 7 June 2023 , and are signed on behalf of the board by:

Mr D Edelstein	Mrs S Feldman
Director	Director

Company registration number: 13098478

EDEL PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 23 DECEMBER 2020 TO 31 DECEMBER 2021

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Burlington House, 1075 Finchley Road, London, NW11 0PU.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in euro, which is the functional currency of the entity.

Going concern

Notwithstanding the net current liabilities of the company, the company's accounts have been prepared in accordance with accounting principles applicable to a going concern on the basis of continuing financial support being available from group member undertakings.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. EMPLOYEE NUMBERS

The number of employees during the period, including the directors, amounted to nil.

5. INVESTMENTS

	Shares in group undertakings
	€
Cost
At 23 December 2020	–
Additions	72,602,592
	---------------
At 31 December 2021	72,602,592
	---------------
Impairment
At 23 December 2020 and 31 December 2021	–
	---------------

Carrying amount
At 31 December 2021	72,602,592
	---------------

6. DEBTORS

	31 Dec 21
	€
Amounts owed by group undertakings	285,397
Other debtors	392,751
	----------
	678,148
	----------

7. CREDITORS: amounts falling due within one year

	31 Dec 21
	€
Corporation tax	172,656
Other creditors	1,690,894
	-------------
	1,863,550
	-------------

Other creditors include €1,674,256 due to the shareholders of the company. The loans are interest-free and repayable on demand.

8. CREDITORS: amounts falling due after more than one year

	31 Dec 21
	€
Amounts owed to group undertakings	24,625,252
	---------------

9. CONTINGENCIES

The company has granted a charge over its shares in one of its subsidiary undertakings to the bank lender of the subsidiary undertaking. The balance of the subsidiary undertaking's bank loan at 31 December 2021 was €31 million.