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Registration number: 04360658

Evesham Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Evesham Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Evesham Properties Limited

Company Information

Directors

Mrs ET Malkin

Mr P N Cox

Company secretary

Mrs ET Malkin

Registered office

3 The Spinney
Little Aston
Sutton Coldfield
West Midlands
B74 3BL

 

Evesham Properties Limited

(Registration number: 04360658)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

490,000

-

Investment property

5

2,140,000

2,140,000

 

2,630,000

2,140,000

Current assets

 

Debtors

6

59,711

-

Cash at bank and in hand

 

248

1,052

 

59,959

1,052

Creditors: Amounts falling due within one year

7

(1,335,320)

(883,067)

Net current liabilities

 

(1,275,361)

(882,015)

Total assets less current liabilities

 

1,354,639

1,257,985

Creditors: Amounts falling due after more than one year

7

(17,484)

(26,818)

Provisions for liabilities

(23,795)

-

Net assets

 

1,313,360

1,231,167

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,313,260

1,231,067

Shareholders' funds

 

1,313,360

1,231,167

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 March 2024 and signed on its behalf by:
 

.........................................
Mr P N Cox
Director

 

Evesham Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
3 The Spinney
Little Aston
Sutton Coldfield
West Midlands
B74 3BL
United Kingdom

These financial statements were authorised for issue by the Board on 3 March 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Evesham Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Evesham Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Tangible assets

Plant and machinery, etc
£

Total
£

Cost or valuation

Additions

494,029

494,029

At 30 June 2023

494,029

494,029

Depreciation

Charge for the year

4,029

4,029

At 30 June 2023

4,029

4,029

Carrying amount

At 30 June 2023

490,000

490,000

5

Investment properties

2023
£

At 1 July

2,140,000

At 30 June

2,140,000

The investment property was revalued on 7 January 2013 by Gregson Page Chartered Surveyors.

6

Debtors

Current

2023
£

2022
£

Trade debtors

13,003

-

Other debtors

46,708

-

 

59,711

-

 

Evesham Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7.1

1,271,393

852,934

Taxation and social security

 

-

28,133

Accruals and deferred income

 

63,927

2,000

 

1,335,320

883,067

Creditors include bank loans and overdrafts which are secured of £Nil (2022 - £74,296).

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7.1

17,484

26,818

Creditors include bank loans and overdrafts which are secured of £Nil (2022 - £Nil).

7.1

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

17,484

26,818

2023
£

2022
£

Current loans and borrowings

Bank borrowings

8,200

81,074

Other borrowings

1,263,193

771,860

1,271,393

852,934

Other borrowings

The carrying amount owed to NDC Polipak Limited at the year end is £100,925 (2022 - £100,925).

 

Evesham Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100