Company Registration No. 02588581 (England and Wales)
EXCELLENCE ENTERPRISES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
EXCELLENCE ENTERPRISES LIMITED
CONTENTS
Page
Company Information
1
Balance sheet
2
Notes to the financial statements
4
EXCELLENCE ENTERPRISES LIMITED
COMPANY INFORMATION
Director
Mrs N A Eshraghi
(Appointed 1 November 2018)
Secretary
Mrs N A Eshraghi
Company number
02588581
Registered office
7 Hammersmith Road
London
W14 8XJ
Accountants
Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ
EXCELLENCE ENTERPRISES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
2
17,314
17,314
Investment properties
3
1,108,710
1,108,710
1,126,024
1,126,024
Current assets
Debtors
4
194
41,650
Cash at bank and in hand
-
1,250
194
42,900
Creditors: amounts falling due within one year
5
(39,941)
(37,153)
Net current (liabilities)/assets
(39,747)
5,747
Total assets less current liabilities
1,086,277
1,131,771
Creditors: amounts falling due after more than one year
6
(972,784)
(985,289)
Net assets
113,493
146,482
Capital and reserves
Called up share capital
100
100
Revaluation reserve
7
740,000
740,000
Profit and loss reserves
(626,607)
(593,618)
Total equity
113,493
146,482
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
EXCELLENCE ENTERPRISES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2019
31 March 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 6 December 2019 and are signed on its behalf by:
Mrs N A Eshraghi
Director
Company Registration No. 02588581
EXCELLENCE ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 3 -
1
Statutory information
Excellence Enterprises Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
7 Hammersmith Road, London, W14 8XJ.
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 consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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 equipment
not provided
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value recognised in profit or loss.
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 difference 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 reversak of deferred tax liabilities or other future taxable profits.
EXCELLENCE ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2018 and 31 March 2019
28,858
Depreciation and impairment
At 1 April 2018 and 31 March 2019
11,544
Net Book Value
At 31 March 2019
17,314
At 31 March 2018
17,314
4
Investment property
Total
£
Fair value
At 1 April 2018 and 31 March 2019
1,143,000
Depreciation
At 1 April 2018 and 31 March 2019
34,290
Net Book Value
At 31 March 2019
1,108,710
At 31 March 2018
1,108,710
Fair value at 31 March 2019 is represented by:
£
Valuation in 2000
170,000
Valuation in 2004
300,000
Valuation in 2007
270,000
Cost
403,000
1,143,000
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
194
41,650
EXCELLENCE ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 5 -
5
Creditors: amounts falling due within one year
2019
2018
£
£
Bank loans and overdrafts
26,562
26,474
Trade creditors
10,679
7,979
Other creditors
2,700
2,700
39,941
37,153
6
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
972,784
985,289
7
Revaluation reserve
2019
2018
£
£
At the beginning and end of the year
740,000
740,000