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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 DECEMBER 2016 TO 31 MAY 2018 |
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FOR |
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ELYSIAN DEVELOPMENTS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD |
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1 DECEMBER 2016 TO 31 MAY 2018 |
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FOR |
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ELYSIAN DEVELOPMENTS LIMITED |
ELYSIAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02728975) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2016 TO 31 MAY 2018 |
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Company Information | 1 |
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Abridged Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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ELYSIAN DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 1 DECEMBER 2016 TO 31 MAY 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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18 Mulberry Avenue |
Turnstone Park |
Widnes |
Cheshire |
WA8 0WN |
ELYSIAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02728975) |
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ABRIDGED BALANCE SHEET |
31 MAY 2018 |
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31.5.18 | 30.11.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investments | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 6 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
ELYSIAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02728975) |
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ABRIDGED BALANCE SHEET - continued |
31 MAY 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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ELYSIAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02728975) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 DECEMBER 2016 TO 31 MAY 2018 |
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1. | STATUTORY INFORMATION |
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Elysian developments limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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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. |
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Taxation |
Taxation for the period 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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 period end and that are expected to apply to the |
reversal of the timing difference. |
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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. |
ELYSIAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02728975) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2016 TO 31 MAY 2018 |
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3. | TANGIBLE FIXED ASSETS |
Totals |
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COST |
At 1 December 2016 |
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Additions |
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At 31 May 2018 |
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DEPRECIATION |
At 1 December 2016 |
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Charge for period |
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At 31 May 2018 |
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NET BOOK VALUE |
At 31 May 2018 |
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At 30 November 2016 |
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4. | FIXED ASSET INVESTMENTS |
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Information on investments other than loans is as follows: |
Totals |
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COST |
At 1 December 2016 |
and 31 May 2018 | 2 |
NET BOOK VALUE |
At 31 May 2018 | 2 |
At 30 November 2016 | 2 |
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5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2016 |
and 31 May 2018 |
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NET BOOK VALUE |
At 31 May 2018 |
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At 30 November 2016 |
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ELYSIAN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02728975) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 DECEMBER 2016 TO 31 MAY 2018 |
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6. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 December 2016 |
and 31 May 2018 |
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7. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its financial statements under Financial Reporting |
Standard 102 (FRS102) issued by the Financial Reporting Council. The last financial statements, for the year |
ended 30 November 2016, were prepared under previous UK GAAP. The transition date to FRS102 is therefore |
1 December 2015. Set out below are the changes in accounting policies which reconcile profit for the financial |
year ended 30 November 2016 and the total equity as at 1 December 2015 and 30 November 2016 between |
UK GAAP as previously reported and FRS 102. |
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Equity as at | Profit for the | Equity as at |
1 December | year ended | 31 November |
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2015 |
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30 November
2016 |
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2016 |
£ | £ | £ |
As previously stated under former UK GAAP | 2,323,076 | 88,596 | 2,277,569 |
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Transitional adjustments |
Deferred tax on revaluations of investment property | (249,000 | ) | - | (249,000 | ) |
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As stated in accordance with FRS 102 | 2,074,076 | 88,596 | 2,028,569 |
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Transition to FRS explanatory notes |
FRS 102 requires that deferred tax be recognised on revaluations of assets. This was not required under |
previous UK GAAP unless there was a binding agreement to sell the revalued asset and the gains or losses |
expected to arise on sale had been recognised. This change has been retrospectively applied, leading to the |
recognition of additional deferred tax liabilities at the date of transition and to increase the deferred tax |
charge for the year ended 30 November 2015. |