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REGISTERED NUMBER: 02829245 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ELLIOTTS ESTATE AGENCIES LIMITED

ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELLIOTTS ESTATE AGENCIES LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: B A Huggins
S Boone



REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB



REGISTERED NUMBER: 02829245 (England and Wales)



ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB



BANKERS: HSBC Bank Plc
125 Church Road
Hove
East Sussex
BN3 2AN

ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,428 6,253
Investments 5 - 8,166
5,428 14,419

CURRENT ASSETS
Debtors 6 64,249 50,832
Cash at bank 41,866 129,118
106,115 179,950
CREDITORS
Amounts falling due within one year 7 (77,353 ) (123,663 )
NET CURRENT ASSETS 28,762 56,287
TOTAL ASSETS LESS CURRENT
LIABILITIES

34,190

70,706

CREDITORS
Amounts falling due after more than one
year

8

(14,806

)

(24,946

)

PROVISIONS FOR LIABILITIES 10 (1,361 ) (2,713 )
NET ASSETS 18,023 43,047

CAPITAL AND RESERVES
Called up share capital 11 66 66
Capital redemption reserve 34 34
Non-distributable reserve - 3,874
Retained earnings 17,923 39,073
SHAREHOLDERS' FUNDS 18,023 43,047

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245)

BALANCE SHEET - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 April 2024 and were signed on its behalf by:





B A Huggins - Director


ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Elliotts Estate Agencies Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address and business address can be found on the Company Information page.

The presentational currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover comprises the fair value of commission received or receivable net of VAT and relevant discounts. Commission is recognised when the sale of a property is completed.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and equipment- 10% on cost
Computer equipment- 33% on cost

Impairment policy
At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Financial instruments
Financial assets, liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid, the company has not further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability on the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

Fixed asset investments
Fixed asset investments represent listed investments shown at fair value. Any gains/losses are recognised in the profit and loss account. Fair value is represented by the market value of the investment.

Government assistance
Included in bank loans is a bounce back loan which is guaranteed by the government. As part of the bounce back loan scheme, the government pays the first year of interest on the loan.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
equipment equipment Totals
£    £    £   
COST
At 1 January 2023 67,356 9,317 76,673
Additions - 715 715
Disposals (13,184 ) (5,536 ) (18,720 )
At 31 December 2023 54,172 4,496 58,668
DEPRECIATION
At 1 January 2023 61,943 8,477 70,420
Charge for year 672 804 1,476
Eliminated on disposal (13,120 ) (5,536 ) (18,656 )
At 31 December 2023 49,495 3,745 53,240
NET BOOK VALUE
At 31 December 2023 4,677 751 5,428
At 31 December 2022 5,413 840 6,253

5. FIXED ASSET INVESTMENTS

The fixed asset investment was disposed of on 12 December 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 33,768 27,876
Other debtors 30,481 22,956
64,249 50,832

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 10,140 9,890
Trade creditors 4,854 644
Taxation and social security 36,008 40,176
Other creditors 26,351 72,953
77,353 123,663

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 14,806 24,946

ELLIOTTS ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 02829245)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.23 31.12.22
£    £   
Within one year 46,666 50,566
Between one and five years 32,797 79,463
79,463 130,029

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 1,361 2,713

Deferred
tax
£   
Balance at 1 January 2023 2,713
Accelerated capital allowances (60 )
Revaluation of investments
Sale of investments (1,292 )
Balance at 31 December 2023 1,361

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
528 Ordinary B 0.10 10p 53 53
132 Ordinary C 0.10 10p 13 13
66 66

12. RELATED PARTY DISCLOSURES

The director, B A Huggins, is a director of Elliotts Estate Lettings Ltd. During the year, a management charge of £13,333 (charged by the company to Elliotts Estate Lettings Ltd) was charged (2022: £7,000).