Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31false32023-01-01No description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07343325 2023-01-01 2023-12-31 07343325 2022-01-01 2022-12-31 07343325 2023-12-31 07343325 2022-12-31 07343325 c:Director1 2023-01-01 2023-12-31 07343325 c:Director2 2023-01-01 2023-12-31 07343325 c:Director3 2023-01-01 2023-12-31 07343325 c:Director4 2023-01-01 2023-12-31 07343325 c:RegisteredOffice 2023-01-01 2023-12-31 07343325 d:MotorVehicles 2023-01-01 2023-12-31 07343325 d:MotorVehicles 2023-12-31 07343325 d:MotorVehicles 2022-12-31 07343325 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07343325 d:OfficeEquipment 2023-01-01 2023-12-31 07343325 d:OfficeEquipment 2023-12-31 07343325 d:OfficeEquipment 2022-12-31 07343325 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07343325 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07343325 d:FreeholdInvestmentProperty 2023-12-31 07343325 d:FreeholdInvestmentProperty 2022-12-31 07343325 d:CurrentFinancialInstruments 2023-12-31 07343325 d:CurrentFinancialInstruments 2022-12-31 07343325 d:Non-currentFinancialInstruments 2023-12-31 07343325 d:Non-currentFinancialInstruments 2022-12-31 07343325 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07343325 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07343325 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07343325 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07343325 d:ShareCapital 2023-12-31 07343325 d:ShareCapital 2022-12-31 07343325 d:RetainedEarningsAccumulatedLosses 2023-12-31 07343325 d:RetainedEarningsAccumulatedLosses 2022-12-31 07343325 c:FRS102 2023-01-01 2023-12-31 07343325 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07343325 c:FullAccounts 2023-01-01 2023-12-31 07343325 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07343325 d:OtherDeferredTax 2023-12-31 07343325 d:OtherDeferredTax 2022-12-31 iso4217:GBP xbrli:pure
Company registration number: 07343325







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


ELLSWORTH PROPERTY INVESTMENT LIMITED






































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ELLSWORTH PROPERTY INVESTMENT LIMITED
 


 
COMPANY INFORMATION


Directors
Ms N J Kay 
Mr T J B Davis 
Mr J C F Davis 
Mr A M Kay 




Registered number
07343325



Registered office
Midas House

62 Goldsworth Road

Woking

Surrey

GU21 6LQ




Accountants
Menzies LLP
Chartered Accountants

Magna House

18-32 London Road

Staines-Upon-Thames

TW18 4BP





 


ELLSWORTH PROPERTY INVESTMENT LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 7


 


ELLSWORTH PROPERTY INVESTMENT LIMITED
REGISTERED NUMBER:07343325



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
49,683
204

Investment property
 5 
6,315,251
6,315,251

  
6,364,934
6,315,455

Current assets
  

Debtors: amounts falling due within one year
 6 
24,887
24,875

Current asset investments
  
514,875
-

Cash at bank and in hand
  
188,083
638,104

  
727,845
662,979

Creditors: amounts falling due within one year
 7 
(363,330)
(366,351)

Net current assets
  
 
 
364,515
 
 
296,628

Total assets less current liabilities
  
6,729,449
6,612,083

Creditors: amounts falling due after more than one year
 8 
(3,446,456)
(3,544,576)

Provisions for liabilities
  

Deferred tax
 9 
(355,894)
(355,894)

  
 
 
(355,894)
 
 
(355,894)

Net assets
  
2,927,099
2,711,613


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
2,927,098
2,711,612

  
2,927,099
2,711,613


Page 1

 


ELLSWORTH PROPERTY INVESTMENT LIMITED
REGISTERED NUMBER:07343325


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr T J B Davis
Director

Date: 21 August 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 


ELLSWORTH PROPERTY INVESTMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Ellsworth Property Investments Limited is a private company limited by shares, incorporated  in England and Wales. The address of its registered office is disclosed on the company information page, the company has no principal place of business. The company's principal activity is that of a property rental business. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is generated through the provision of rental services and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Pensions

Defined contribution pension plan

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 no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 3

 


ELLSWORTH PROPERTY INVESTMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
straight line
Office equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors based on their knowledge of the current market rents, and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 


ELLSWORTH PROPERTY INVESTMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
-
28,604
28,604


Additions
64,244
1,978
66,222



At 31 December 2023

64,244
30,582
94,826



Depreciation


At 1 January 2023
-
28,400
28,400


Charge for the year on owned assets
16,061
682
16,743



At 31 December 2023

16,061
29,082
45,143



Net book value



At 31 December 2023
48,183
1,500
49,683



At 31 December 2022
-
204
204

Page 5

 


ELLSWORTH PROPERTY INVESTMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Investment property

£



Valuation


At 1 January 2023
6,315,251



At 31 December 2023
6,315,251

The 2023 valuations were made by the Directors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
4,611,199
4,611,199

4,611,199
4,611,199


6.


Debtors

2023
2022
£
£


Trade debtors
10,223
10,500

Other debtors
289
-

Prepayments and accrued income
14,375
14,375

24,887
24,875



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,308
1,713

Corporation tax
67,348
54,804

Other taxation and social security
265
20,340

Other creditors
212,715
210,800

Accruals and deferred income
78,694
78,694

363,330
366,351


Page 6

 


ELLSWORTH PROPERTY INVESTMENT LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
3,446,456
3,544,576

3,446,456
3,544,576



9.


Deferred taxation




2023


£






At beginning of year
(355,894)



At end of year
(355,894)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Deferred tax on chargeable gains
(355,894)
(355,894)

(355,894)
(355,894)


10.


Related party transactions

At the year end, included within creditors falling due under one year were amounts due to Ms N J Kay, a director and shareholder of the company, amounting to £200,000 (2022 - £200,000).
At the year end, included within creditors falling due after more than one year were amounts due to Ms N J Kay, a director and shareholder of the company, amounting to £3,446,456 (2022 - £3,544,576).
These amounts are considered to be interest free and repayable on demand. 

 
Page 7