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REGISTERED NUMBER: 07359978 (England and Wales)


















Estel Property Group Limited

Unaudited Financial Statements for the Year Ended 31st December 2022






Estel Property Group Limited (Registered number: 07359978)






Contents of the Financial Statements
for the year ended 31st December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Estel Property Group Limited

Company Information
for the year ended 31st December 2022







DIRECTOR: P Danson





REGISTERED OFFICE: John Carpenter House
John Carpenter Street
London
EC4Y 0AN





REGISTERED NUMBER: 07359978 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire
HU2 8BA

Estel Property Group Limited (Registered number: 07359978)

Balance Sheet
31st December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 3,101 3,101

CURRENT ASSETS
Debtors 5 2,000 2,000

CREDITORS
Amounts falling due within one year 6 3,101 3,101
NET CURRENT LIABILITIES (1,101 ) (1,101 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,000

2,000

CAPITAL AND RESERVES
Called up share capital 7 2,000 2,000
SHAREHOLDERS' FUNDS 2,000 2,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 9th October 2023 and were signed by:





P Danson - Director


Estel Property Group Limited (Registered number: 07359978)

Notes to the Financial Statements
for the year ended 31st December 2022

1. STATUTORY INFORMATION

Estel Property Group 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.

Preparation of consolidated financial statements
The financial statements contain information about Estel Property Group Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its ultimate parent, Progressive Holdco Limited, Studio 5, Salters House, 156 High Street, Hull, HU1 1NQ.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

3. EMPLOYEES AND DIRECTORS

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

Estel Property Group Limited (Registered number: 07359978)

Notes to the Financial Statements - continued
for the year ended 31st December 2022

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st January 2022
and 31st December 2022 3,101
NET BOOK VALUE
At 31st December 2022 3,101
At 31st December 2021 3,101

Details of the investments in which the group and parent company hold 20% or more of the nominal value of any class of share capital at 31 December 2022 are as follows:-




Name of company

Country of
registration
and operation



Nature of business
Proportion of
voting rights
and shares
held

Estel Property Investments Limited UK Dormant 100%
Estel Property Investments No.2 Limited UK Dormant 100%
Estel Property Investments No.3 Limited UK Property Company 100%
Estel Property Investments No.4 Limited UK Dormant 100%
Estel Property Investments No.5 Limited UK Dormant 100%


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 2,000 2,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Amounts owed to group undertakings 3,101 3,101

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2,000 Ordinary 1 2,000 2,000

8. RESERVES
Retained
earnings
£   

Profit for the year -
At 31st December 2022 -

Estel Property Group Limited (Registered number: 07359978)

Notes to the Financial Statements - continued
for the year ended 31st December 2022

9. ULTIMATE CONTROLLING PARTY

The company's ultimate parent company up until 4 March 2022 was New Statesman Media Group Limited. On this date New Statesman Media Group Limited became a subsidiary of Progressive Holdco Limited, who became the ultimate parent company. Progressive Holdco Limited is the smallest and largest group in which the company's results are consolidated.

Michael Danson is the ultimate controlling party through his 100% shareholding of Progressive Holdco Limited.