REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
ESTATES UK (MAINTENANCE) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2023 |
FOR |
ESTATES UK (MAINTENANCE) LIMITED |
ESTATES UK (MAINTENANCE) LIMITED (REGISTERED NUMBER: 05012209) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ESTATES UK (MAINTENANCE) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ESTATES UK (MAINTENANCE) LIMITED (REGISTERED NUMBER: 05012209) |
BALANCE SHEET |
31 JANUARY 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ESTATES UK (MAINTENANCE) LIMITED (REGISTERED NUMBER: 05012209) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2023 |
1. | STATUTORY INFORMATION |
Estates UK (Maintenance) Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies. |
The company has net current liabilities of £418,465 (2022 - £203,158) and overall net liabilities of £95,433 (2022 - £99,934). |
The company has support from its major creditors, Unilet Limited and Estates UK Limited who have loaned the company monies amounting to £424,827 (2022 - £235,406), which although are repayable upon demand, both creditors have agreed not to pursue repayment until the company has adequate resources to repay the loans in full. |
On this basis, the directors consider the company to be a going concern and no adjustments have been included which would result from a withdrawal of the loans from Unilet Limited and Estates UK Limited. |
TURNOVER |
Turnover represents invoiced hire sales net of discounts and Value Added Tax. |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company |
and the turnover can be reliably measured. |
Turnover is measured as the fair value of the consideration received or receivable during the year and recognised upon completion of the hire term. |
TANGIBLE FIXED ASSETS |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives using the straight line method on the following basis |
Motor vehicles. - 25% straight line |
The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement and retained earnings. |
ESTATES UK (MAINTENANCE) LIMITED (REGISTERED NUMBER: 05012209) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
3. | ACCOUNTING POLICIES - continued |
INVESTMENT PROPERTY |
Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. |
The company engage an independent valuer to assist the directors in determining fair value. |
Investment property whose fair value can be measured reliably are recorded at fair value with any surplus or deficit on revaluation being recognised in the income statement accumulated in a non-distributable reserve. |
No depreciation is charged on investment property. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ESTATES UK (MAINTENANCE) LIMITED (REGISTERED NUMBER: 05012209) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
to | Motor |
property | vehicles | Totals |
£ | £ | £ |
COST |
At 1 February 2022 |
Additions |
At 31 January 2023 |
DEPRECIATION |
At 1 February 2022 |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
The net book value of assets utilised in operating leases is £106,072 (2022 - £103,224). |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
ESTATES UK (MAINTENANCE) LIMITED (REGISTERED NUMBER: 05012209) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2023 |
9. | CONTROLLING PARTY |
The company is controlled by Mr J A Miller and Mr H J Miller. |