Esteemed Properties Limited 13393070 false 2022-06-01 2023-03-31 2023-03-31 The principal activity of the company is property development. Digita Accounts Production Advanced 6.30.9574.0 true true 13393070 2022-06-01 2023-03-31 13393070 2023-03-31 13393070 core:RetainedEarningsAccumulatedLosses 2023-03-31 13393070 core:ShareCapital 2023-03-31 13393070 core:CurrentFinancialInstruments 2023-03-31 13393070 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13393070 core:FurnitureFittingsToolsEquipment 2023-03-31 13393070 core:MotorVehicles 2023-03-31 13393070 bus:SmallEntities 2022-06-01 2023-03-31 13393070 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-03-31 13393070 bus:FullAccounts 2022-06-01 2023-03-31 13393070 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-03-31 13393070 bus:RegisteredOffice 2022-06-01 2023-03-31 13393070 bus:Director1 2022-06-01 2023-03-31 13393070 bus:Director2 2022-06-01 2023-03-31 13393070 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-03-31 13393070 core:FurnitureFittingsToolsEquipment 2022-06-01 2023-03-31 13393070 core:MotorVehicles 2022-06-01 2023-03-31 13393070 core:OfficeEquipment 2022-06-01 2023-03-31 13393070 core:Vehicles 2022-06-01 2023-03-31 13393070 countries:EnglandWales 2022-06-01 2023-03-31 13393070 2022-05-31 13393070 core:FurnitureFittingsToolsEquipment 2022-05-31 13393070 core:MotorVehicles 2022-05-31 13393070 2021-05-13 2022-05-31 13393070 2022-05-31 13393070 core:RetainedEarningsAccumulatedLosses 2022-05-31 13393070 core:ShareCapital 2022-05-31 13393070 core:CurrentFinancialInstruments 2022-05-31 13393070 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 13393070 core:FurnitureFittingsToolsEquipment 2022-05-31 13393070 core:MotorVehicles 2022-05-31 iso4217:GBP xbrli:pure

Registration number: 13393070

Esteemed Properties Limited

Unaudited Financial Statements

for the Period from 1 June 2022 to 31 March 2023

 

Esteemed Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Esteemed Properties Limited

(Registration number: 13393070)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,417

3,333

Current assets

 

Stocks

5

-

134,000

Debtors

6

18

-

Cash at bank and in hand

 

3,179

370

 

3,197

134,370

Creditors: Amounts falling due within one year

7

(12,779)

(134,194)

Net current (liabilities)/assets

 

(9,582)

176

Total assets less current liabilities

 

(7,165)

3,509

Provisions for liabilities

-

(633)

Net (liabilities)/assets

 

(7,165)

2,876

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(7,265)

2,776

Shareholders' (deficit)/funds

 

(7,165)

2,876

 

Esteemed Properties Limited

(Registration number: 13393070)
Balance Sheet as at 31 March 2023

For the financial period ending 31 March 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 period 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 and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 28 February 2024 and signed on its behalf by:
 

.........................................
Mr G J F Farr
Director

.........................................
Mrs V L Farr
Director

 

Esteemed Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2022 to 31 March 2023

1

General information

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

The address of its registered office is:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received in respect of the sale of properties.

 

Esteemed Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2022 to 31 March 2023

Tax

The tax expense for the period comprises current tax.
The current 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.

The current 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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% straight line

Motor vehicles

25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

In respect of work in progress, this includes costs incurred to date and also includes a relevant proportion of direct costs incurred dependant on the developments stage of completion.

 

Esteemed Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2022 to 31 March 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2022

500

4,000

4,500

At 31 March 2023

500

4,000

4,500

Depreciation

At 1 June 2022

167

1,000

1,167

Charge for the period

166

750

916

At 31 March 2023

333

1,750

2,083

Carrying amount

At 31 March 2023

167

2,250

2,417

At 31 May 2022

333

3,000

3,333

5

Stocks

2023
£

2022
£

Work in progress

-

134,000

 

Esteemed Properties Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2022 to 31 March 2023

6

Debtors

2023
£

2022
£

Other debtors

18

-

18

-

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

-

64,266

Taxation and social security

 

-

18

Accruals and deferred income

 

1,920

1,920

Other creditors

 

10,859

67,990

 

12,779

134,194

Loans and borrowings include loans which are secured against the asset to which they relate.
The loans are personally guaranteed by the directors and the loans also contain fixed charges, floating charges and negative pledges.