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Registered Number: 10905155
England and Wales

 

 

 

EZ PROPERTY REPORTS NATIONWIDE LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 321,283    415,017 
Tangible fixed assets 4 129    520 
321,412    415,537 
Current assets      
Debtors 59,438    49,862 
Cash at bank and in hand 63,290    89,442 
122,728    139,304 
Creditors: amount falling due within one year (379,319)   (484,019)
Net current assets (256,591)   (344,715)
 
Total assets less current liabilities 64,821    70,822 
Provisions for liabilities (25)   (99)
Net assets 64,796    70,723 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 64,696    70,623 
Shareholders' funds 64,796    70,723 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 31 July 2024 and were signed on its behalf by:


-------------------------------
C J Wells
Director
1
General Information
EZ Property Reports Nationwide Limited is a private company, limited by shares, registered in England and Wales, registration number 10905155, registration address Kirkpatrick and Hopes, Merlin House Brunel Road Theale, Reading, Berkshire, RG7 4AB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

Going concern
The accounts are prepared on a going concern basis. The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.
Turnover
Turnover represents net sales of services, excluding value added tax. Income is recognised when the company obtains the right to consideration.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Computer software has been amortised over its estimated useful life of five years.

If there is an indication that there has been a significant change in amortisation rate or residual value of an intangible asset, the amortisation of the asset is revised retrospectively to reflect the new expectations.


Goodwill
Goodwill, being the amount paid in connection with the acquisition of EZ Property Reports LLP in 2017, is being amortised evenly over its estimated useful life of 10 years.
Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Computer Equipment - 25% on cost


At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 4 (2022 : 5).
3.

Intangible fixed assets

Cost Goodwill   Software License   Total
  £   £   £
At 01 January 2023 793,500    100,595    894,095 
Additions   3,735    3,735 
Disposals    
At 31 December 2023 793,500    104,330    897,830 
Amortisation
At 01 January 2023 416,588    62,490    479,078 
Charge for year 79,350    18,119    97,469 
On disposals    
At 31 December 2023 495,938    80,609    576,547 
Net book values
At 31 December 2023 297,562    23,721    321,283 
At 31 December 2022 376,912    38,105    415,017 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 January 2023 6,445    6,445 
Additions  
Disposals  
At 31 December 2023 6,445    6,445 
Depreciation
At 01 January 2023 5,925    5,925 
Charge for year 391    391 
On disposals  
At 31 December 2023 6,316    6,316 
Net book values
Closing balance as at 31 December 2023 129    129 
Opening balance as at 01 January 2023 520    520 


5.

Director’s loan

DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date there were credit balances on the following director's loan account:

S Goddard £6,029 (2022: £4,495)

S Goddard's loan account is interest free and there is no fixed date for repayment.
6.

Leasing Agreements - Non Cancellable Operating Leases

.   2023
£
  2022
£
Payable within one year 4,331 
Repayable between two to five years 1,805 
6,136 

7.

Debtors: amounts falling due within one year

.   2023
£
  2022
£
Trade Debtors 57,791  49,765 
Prepayments & Accrued Income 1,506  97 
Other Debtors 141 
59,438  49,862 

8.

Creditors: amounts falling due within one year

.   2023
£
  2022
£
Trade Creditors 2,498  6,145 
Amounts owed to Participating Interests 303,931  409,149 
Corporation Tax 41,441  38,314 
PAYE & Social Security 2,726  1,397 
Accrued Expenses 1,128  957 
Other Creditors 227  352 
Directors' Current Accounts 6,029  4,495 
VAT 21,337  23,210 
379,317  484,019 

2