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REGISTERED NUMBER: 00820106 (England and Wales)












ERNLEY PROPERTY INVESTMENT CO. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






ERNLEY PROPERTY INVESTMENT CO. LIMITED (REGISTERED NUMBER: 00820106)






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


ERNLEY PROPERTY INVESTMENT CO. LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTOR: Mr D R Edgley





SECRETARY: Mr D R Edgley





REGISTERED OFFICE: Wey Court West
Union Road
Farnham
Surrey
GU9 7PT





REGISTERED NUMBER: 00820106 (England and Wales)





ACCOUNTANTS: Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT

ERNLEY PROPERTY INVESTMENT CO. LIMITED (REGISTERED NUMBER: 00820106)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 6,299,667 6,800,334
Investments 5 3,838,761 3,537,558
10,138,428 10,337,892

CURRENT ASSETS
Debtors 6 127,323 120,454
Cash at bank 1,865,407 1,586,808
1,992,730 1,707,262
CREDITORS
Amounts falling due within one year 7 (1,378,618 ) (1,322,069 )
NET CURRENT ASSETS 614,112 385,193
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,752,540

10,723,085

PROVISIONS FOR LIABILITIES 8 (649,599 ) (726,767 )
NET ASSETS 10,102,941 9,996,318

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 10,102,791 9,996,168
SHAREHOLDERS' FUNDS 10,102,941 9,996,318

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 director acknowledges his 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.

ERNLEY PROPERTY INVESTMENT CO. LIMITED (REGISTERED NUMBER: 00820106)

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 director and authorised for issue on 6 August 2024 and were signed by:





Mr D R Edgley - Director


ERNLEY PROPERTY INVESTMENT CO. LIMITED (REGISTERED NUMBER: 00820106)

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

1. STATUTORY INFORMATION

Ernley Property Investment Co. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income due from the properties. It is recognised as it becomes due for payment on a quarterly basis.

Tangible fixed assets
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price.

Such assets are subsequently carried at fair value and the changes in fair value are recognised in the profit and loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

ERNLEY PROPERTY INVESTMENT CO. LIMITED (REGISTERED NUMBER: 00820106)

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

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 6,800,000 667 6,800,667
Revaluations (500,500 ) - (500,500 )
At 31 December 2023 6,299,500 667 6,300,167
DEPRECIATION
At 1 January 2023 - 333 333
Charge for year - 167 167
At 31 December 2023 - 500 500
NET BOOK VALUE
At 31 December 2023 6,299,500 167 6,299,667
At 31 December 2022 6,800,000 334 6,800,334

Cost or valuation at 31 December 2023 is represented by:

Freehold Computer
property equipment Totals
£    £    £   
Valuation in 1997 268,341 - 268,341
Valuation in 2004 1,363,928 - 1,363,928
Valuation in 2008 1,119,151 - 1,119,151
Valuation in 2013 47,750 - 47,750
Valuation in 2015 840,776 - 840,776
Valuation in 2017 373,576 - 373,576
Valuation in 2021 141,000 - 141,000
Valuation in 2022 (949,000 ) - (949,000 )
Valuation in 2023 (500,500 ) - (500,500 )
Cost 3,594,478 667 3,595,145
6,299,500 667 6,300,167

If freehold property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 3,594,478 3,594,478

Freehold commercial properties were valued at the year end by Hurst Warne and Partners Surveyors Ltd. The valuation has been carried out in accordance with the RICS valuation - Global Standards.

Residential properties have been valued on an open market basis by the Directors.

ERNLEY PROPERTY INVESTMENT CO. LIMITED (REGISTERED NUMBER: 00820106)

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

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments 3,838,761 3,537,558

Additional information is as follows:
Other
investments
£   
COST OR VALUATION
At 1 January 2023 3,475,959
Additions 1,310,270
Disposals (1,206,352 )
Revaluations 197,594
At 31 December 2023 3,777,471
NET BOOK VALUE
At 31 December 2023 3,777,471
At 31 December 2022 3,475,959

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2019 22,695
Valuation in 2020 161,462
Valuation in 2021 348,189
Valuation in 2022 (371,839 )
Valuation in 2023 197,594
Cost 3,419,370
3,777,471

Investments (neither listed nor unlisted) were as follows:
2023 2022
£    £   
Rathbones Deposit a/c 61,290 15,457
Rathbones Foreign a/c - 46,142
61,290 61,599

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 127,323 120,454

ERNLEY PROPERTY INVESTMENT CO. LIMITED (REGISTERED NUMBER: 00820106)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 11,388 -
Taxation and social security 92,960 62,230
Other creditors 1,274,270 1,259,839
1,378,618 1,322,069

The balance of £1,204,048.68 is due to West Surrey Building Estates Limited, a company under the control of the directors. The loan is considered to be repayable on demand and has been provided interest free.

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 649,599 726,767

Deferred
tax
£   
Balance at 1 January 2023 726,767
Provided during year (77,168 )
Balance at 31 December 2023 649,599

9. RELATED PARTY DISCLOSURES

Management Insurance has been recharged by West Surrey Building Estates Limited to this company during the year. The ownership of both companies is identical.