Company registration number 04037289 (England and Wales)
ESTATES AND LETS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
ESTATES AND LETS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ESTATES AND LETS LIMITED
BALANCE SHEET
AS AT
31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
45,097
49,802
Current assets
Debtors
4
560,464
473,583
Cash at bank and in hand
102,026
105,201
662,490
578,784
Creditors: amounts falling due within one year
5
(592,729)
(509,238)
Net current assets
69,761
69,546
Total assets less current liabilities
114,858
119,348
Creditors: amounts falling due after more than one year
6
(20,777)
(24,253)
Net assets
94,081
95,095
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
94,080
95,094
Total equity
94,081
95,095

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 9 August 2024 and are signed on its behalf by:
Michael Docker
Director
Company registration number 04037289 (England and Wales)
ESTATES AND LETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 2 -
1
Accounting policies
Company information

Estates and Lets Limited is a private company limited by shares incorporated in England and Wales. The registered office is 166 College Road, Harrow, Middlesex, HA1 1RA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for services net of VAT and trade discounts. Turnover is recognised at the point of service provided.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings and equipment
15% per annum reducing balance
Computer equipment
33.33% per annum on cost
Motor vehicles
25% per annum reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

ESTATES AND LETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Leases

Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term of the relevant lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
7
6
ESTATES AND LETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
209,273
Additions
8,007
At 31 July 2023
217,280
Depreciation and impairment
At 1 August 2022
159,471
Depreciation charged in the year
12,712
At 31 July 2023
172,183
Carrying amount
At 31 July 2023
45,097
At 31 July 2022
49,802

The net carrying value of tangible fixed assets includes £28,028 (2022: £30,524) in respect of assets held under finance leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to £2,497 (2022: £3,183).

4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,232
6,988
Other debtors
558,232
466,595
560,464
473,583
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
25,396
28,740
Corporation tax
97
-
0
Other taxation and social security
7,841
19,858
Other creditors
559,395
460,640
592,729
509,238
ESTATES AND LETS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
20,777
24,253

Other creditors due after one year consist of hire purchase liabilities which are secured against the assets to which they relate.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Share of £1 each
1
1
1
1
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
81,250
146,250
9
Related party transactions

In the normal course of business the company acts as letting agents for companies which are controlled by Mr and Mrs Docker and for limited liability partnerships in which Mr and Mrs Docker are designated members, as well as acting as letting agents for Mr Docker and his son. During the year the company charged fees of £114,575 (2022: £103,453) for these services to the above in aggregate.

 

During the year the company charged administration and management fees of £270,927 (2022: £292,740) to companies controlled by Mr and Mrs Docker.

 

Included within debtors is £539,954 (2022: £451,456) due from companies which are controlled by Mr and Mrs Docker.

 

Included within creditors is £331,526 (2022: £280,393) owed to companies which are controlled by Mr and Mrs Docker.

 

Included within creditors is £40,099 (2022: £14,321) owed to limited liability partnerships in which Mr and Mrs Docker are designated members.

 

Included within creditors is £114,784 (2022: £72,903) owed to the directors.

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