Registered number: | |||||||
Balance Sheet | |||||||
as at |
|||||||
Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | ||||||
Investments | 4 | ||||||
Current assets | |||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
||||
Net current liabilities | ( |
( |
|||||
Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 6 | ( |
( |
||||
Provisions for liabilities | ( |
( |
|||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Revaluation reserve | 7 | ||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
Mr S Patel | |||||||
Director | |||||||
Approved by the board on |
|||||||
Notes to the Accounts | ||||||||
for the year ended |
||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Tangible fixed assets | ||||||||
Fixtures, fittings, tools and equipment | 20% Reducing balance | |||||||
Investment properties | ||||||||
No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors, these properties are held primarily for their investment potential and so their fair value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of FRS 102 Section 16 "Investment Property" have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation . The amount of depreciation cannot reasonably be quantified and the amount which might otherwise has been shown cannot be separately identified or quantified. | ||||||||
Debtors | ||||||||
Creditors | ||||||||
2 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Land and buildings | Plant and machinery etc | Total | ||||||
£ | £ | £ | ||||||
Cost | ||||||||
At 1 June 2022 | ||||||||
Additions | ||||||||
At 31 May 2023 | ||||||||
Depreciation | ||||||||
At 1 June 2022 | - | |||||||
Charge for the year | - | |||||||
At 31 May 2023 | - | |||||||
Net book value | ||||||||
At 31 May 2023 | ||||||||
At 31 May 2022 | ||||||||
The fair value of the investment properties have been arrived at on the basis of valuations carried out on 10th January 2020 by De Villiers, a firm of chartered surveyors. The valuations were made on an open market value basis by reference to the rentals receivable and other underlying property market conditions. The director, by taking into consideration the market conditions, believe that the fair value of the properties as at the year end was not materially different to the above post balance sheet valuation of £4,703,761. If investment properties were stated on an historical cost basis rather than a fair value basis, the carrying amounts would have been £3,121,569. |
||||||||
4 | Investments | |||||||
Investments in | ||||||||
subsidiary | ||||||||
undertakings | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 June 2022 | 238,663 | |||||||
At 31 May 2023 | 238,663 | |||||||
In January 2019, the company acquired remaining 50% of the share capital in Avens Estates Ltd for £236,500 and thereby becoming its holding company. The parent, and the group headed by it, qualify as small as set out in section 383 of the Act and the parent and the group are considered eligible for the exemption from preparing consolidated accounts under sections 384 and 399(2A) of the Act. | ||||||||
The Investment in Avens Estates Ltd, the only subsidiary, is shown at cost. | ||||||||
5 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Amounts owed to group and related undertaking | ||||||||
Corporation tax | ||||||||
Other taxes and social security costs | ||||||||
Other creditors | ||||||||
6 | Creditors: amounts falling due after one year | 2023 | 2022 | |||||
£ | £ | |||||||
Bank loans | ||||||||
7 | Revaluation reserve | 2023 | 2022 | |||||
£ | £ | |||||||
At 1 June 2022 | ||||||||
At 31 May 2023 | ||||||||
8 | Related party transactions | |||||||
9 | Other information | |||||||
Estates Construction Ltd is a private company limited by shares and incorporated in England. Its registered office is Leverford House, 219 Kingsbury Road, London NW9 8XG: |