Estates Construction Ltd
Registered number: 04224477
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 5,777,345 4,710,331
Investments 4 238,663 238,663
6,016,008 4,948,994
Current assets
Cash at bank and in hand 370,763 806,095
Creditors: amounts falling due within one year 5 (1,219,677) (1,203,883)
Net current liabilities (848,914) (397,788)
Total assets less current liabilities 5,167,094 4,551,206
Creditors: amounts falling due after more than one year 6 (2,900,513) (2,390,513)
Provisions for liabilities (137,558) (137,558)
Net assets 2,129,023 2,023,135
Capital and reserves
Called up share capital 100 100
Revaluation reserve 7 1,582,192 1,582,192
Profit and loss account 546,731 440,843
Shareholders' funds 2,129,023 2,023,135
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Patel
Director
Approved by the board on 12 February 2024
Estates Construction Ltd
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the rents receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% Reducing balance
Investment properties
Investment properties, which are properties held to earn rentals and/or for capital appreciation , are measured initially at cost (purchase price and directly attributable expenditure) and subsequently are measured using the fair value model and stated at their fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account
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
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 June 2022 4,703,761 16,382 4,720,143
Additions 1,060,487 9,801 1,070,288
At 31 May 2023 5,764,248 26,183 5,790,431
Depreciation
At 1 June 2022 - 9,812 9,812
Charge for the year - 3,274 3,274
At 31 May 2023 - 13,086 13,086
Net book value
At 31 May 2023 5,764,248 13,097 5,777,345
At 31 May 2022 4,703,761 6,570 4,710,331
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 341,532 322,129
Corporation tax 42,441 15,108
Other taxes and social security costs 1,624 726
Other creditors 834,080 865,920
1,219,677 1,203,883
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 2,900,513 2,390,513
7 Revaluation reserve 2023 2022
£ £
At 1 June 2022 1,582,192 1,582,192
At 31 May 2023 1,582,192 1,582,192
8 Related party transactions
Included in other Creditors is an amount of £97,297 (2021: £97,297) due to IT Solutions (UK) Ltd, a company in which the directors have an interest.
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:
Estates Construction Ltd 04224477 false 2022-06-01 2023-05-31 2023-05-31 VT Final Accounts October 2023 release 2 Mr S Patel No description of principal activity 04224477 2021-06-01 2022-05-31 04224477 core:WithinOneYear 2022-05-31 04224477 core:AfterOneYear 2022-05-31 04224477 core:ShareCapital 2022-05-31 04224477 core:OtherReservesSubtotal 2022-05-31 04224477 core:RetainedEarningsAccumulatedLosses 2022-05-31 04224477 core:RevaluationReserve 2021-05-31 04224477 2022-06-01 2023-05-31 04224477 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 04224477 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 04224477 bus:Director40 2022-06-01 2023-05-31 04224477 1 2022-06-01 2023-05-31 04224477 2 2022-06-01 2023-05-31 04224477 core:LandBuildings 2022-06-01 2023-05-31 04224477 core:PlantMachinery 2022-06-01 2023-05-31 04224477 countries:England 2022-06-01 2023-05-31 04224477 bus:FRS102 2022-06-01 2023-05-31 04224477 bus:FullAccounts 2022-06-01 2023-05-31 04224477 2023-05-31 04224477 core:WithinOneYear 2023-05-31 04224477 core:AfterOneYear 2023-05-31 04224477 core:ShareCapital 2023-05-31 04224477 core:OtherReservesSubtotal 2023-05-31 04224477 core:RetainedEarningsAccumulatedLosses 2023-05-31 04224477 core:LandBuildings 2023-05-31 04224477 core:PlantMachinery 2023-05-31 04224477 core:RevaluationReserve 2023-05-31 04224477 2022-05-31 04224477 core:LandBuildings 2022-05-31 04224477 core:PlantMachinery 2022-05-31 04224477 core:RevaluationReserve 2022-05-31 iso4217:GBP xbrli:pure