Elysian (West Yorkshire) Limited - Period Ending 2023-06-30

Elysian (West Yorkshire) Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 5

Elysian (West Yorkshire) Limited

(Registration number: 14300159)
Balance Sheet as at 30 June 2023

	Note	2023		2022
		£	£	£	£
Fixed assets
Investments	4		639,357		-
Current assets
Debtors	5	76,207		-
Creditors: Amounts falling due within one year	6	(2,499)		-
Net current assets			73,708		-
Net assets			713,065		-
Capital and reserves
Called up share capital	7	200		-
Profit and loss account		712,865		-
Total equity			713,065		-

For the financial period ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 January 2024
 

......................................... C D Procter Director

Elysian (West Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 16 August 2022 to 30 June 2023

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
2 Airport West
Lancaster Way
Yeadon
Leeds
West Yorkshire
LS19 7ZA

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 disclosure and presentation requirements of Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Financial Reporting Standard 102 Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned.

Group accounts not prepared

Elysian (West Yorkshire) Limited is exempt from preparing group financial statements as the group is small..

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method.
Dividends on equity securities are recognised in income when receivable.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Elysian (West Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 16 August 2022 to 30 June 2023

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Elysian (West Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 16 August 2022 to 30 June 2023

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period was 0 (2022 - 0).

4	Investments

	2023 £	2022 £
Investments in subsidiaries	639,357	-

Subsidiaries	£
Cost or valuation
Additions	639,357
Carrying amount
At 30 June 2023	639,357

Elysian (West Yorkshire) Limited

Notes to the Unaudited Financial Statements for the Period from 16 August 2022 to 30 June 2023

5

Debtors

Current	2023 £	2022 £
Other debtors	76,207	-
	76,207	-

6

Creditors

	Note	2023 £	2022 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest		2,499	-

7	Share capital

Allotted, called up and fully paid shares

	2023		2022
	No.	£	No.	£
Ordinary shares of £1 (2022 - £0) each	200	200	-	-