Company registration number 11972399 (England and Wales)
ESTABLISH ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
ESTABLISH ESTATES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ESTABLISH ESTATES LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
601,874
540,000
Current assets
Debtors
4
100
865
Cash at bank and in hand
224,157
133,517
224,257
134,382
Creditors: amounts falling due within one year
5
(3,122)
(1,596)
Net current assets
221,135
132,786
Total assets less current liabilities
823,009
672,786
Creditors: amounts falling due after more than one year
6
(726,915)
(574,255)
Provisions for liabilities
(19,202)
(19,202)
Net assets
76,892
79,329
Capital and reserves
Called up share capital
7
100
100
Other reserves
81,862
81,862
Profit and loss reserves
(5,070)
(2,633)
Total equity
76,892
79,329

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The 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.

ESTABLISH ESTATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2023
30 April 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 31 January 2024 and are signed on its behalf by:
Mr R A Yates
Mr D J Brown
Director
Director
Company registration number 11972399 (England and Wales)
ESTABLISH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information

Establish Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Tay Close, Mapplewell, Barnsley, South Yorkshire, S75 6FS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

ESTABLISH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
ESTABLISH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 5 -
3
Investment property
2023
£
Fair value
At 1 May 2022
540,000
Additions
61,874
At 30 April 2023
601,874

 

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
100
100
Prepayments and accrued income
-
0
765
100
865

Other debtors consists of unpaid share capital £100 (2022 - £100) and prepayments & accrued income £Nil (2022 - £765)

5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
726
306
Other creditors
2,396
1,290
3,122
1,596

Other creditors of £2,396 consists of Bonds £950 (2022 - £Nil), accruals £924 (2022 - £768) and amounts due to connected company £522 (2022 - £522)

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
414,915
262,255
Other creditors
312,000
312,000
726,915
574,255
ESTABLISH ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100

 

2023-04-302022-05-01false05 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMr R A YatesMr D J Brownfalse119723992022-05-012023-04-30119723992023-04-30119723992022-04-3011972399core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3011972399core:CurrentFinancialInstrumentscore:WithinOneYear2022-04-3011972399core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3011972399core:Non-currentFinancialInstrumentscore:AfterOneYear2022-04-3011972399core:CurrentFinancialInstruments2023-04-3011972399core:CurrentFinancialInstruments2022-04-3011972399core:Non-currentFinancialInstruments2023-04-3011972399core:Non-currentFinancialInstruments2022-04-3011972399core:ShareCapital2023-04-3011972399core:ShareCapital2022-04-3011972399core:OtherMiscellaneousReserve2023-04-3011972399core:OtherMiscellaneousReserve2022-04-3011972399core:RetainedEarningsAccumulatedLosses2023-04-3011972399core:RetainedEarningsAccumulatedLosses2022-04-3011972399bus:Director12022-05-012023-04-3011972399bus:Director22022-05-012023-04-30119723992021-06-012022-04-30119723992022-04-3011972399bus:PrivateLimitedCompanyLtd2022-05-012023-04-3011972399bus:SmallCompaniesRegimeForAccounts2022-05-012023-04-3011972399bus:FRS1022022-05-012023-04-3011972399bus:AuditExemptWithAccountantsReport2022-05-012023-04-3011972399bus:FullAccounts2022-05-012023-04-30xbrli:purexbrli:sharesiso4217:GBP