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REGISTERED NUMBER: 00361410 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ECONOMIC PROPERTY INVESTMENTS LTD

ECONOMIC PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 00361410)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


ECONOMIC PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 00361410)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1 1
Investment property 5 1,978,440 2,058,440
1,978,441 2,058,441

CURRENT ASSETS
Stocks 6 97,372 94,012
Debtors 7 43,122 90,142
Cash at bank 71,542 152,608
212,036 336,762
CREDITORS
Amounts falling due within one year 8 42,561 62,289
NET CURRENT ASSETS 169,475 274,473
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,147,916

2,332,914

CREDITORS
Amounts falling due after more than one
year

9

(1,175,000

)

(1,300,000

)

PROVISIONS FOR LIABILITIES (69,694 ) (68,168 )
NET ASSETS 903,222 964,746

CAPITAL AND RESERVES
Called up share capital 11 107 107
Non distributable reserves 12 324,077 404,077
Retained earnings 579,038 560,562
SHAREHOLDERS' FUNDS 903,222 964,746

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.

ECONOMIC PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 00361410)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 June 2024 and were signed on its behalf by:





J R E Andrew - Director


ECONOMIC PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 00361410)

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


1. STATUTORY INFORMATION

Economic Property Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00361410

Registered office: 5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

The presentation 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 as modified by the revaluation of certain assets.

The results are presented for the company as a single entity only.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Investment property
Investment property is carried at fair value and revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The effect of this departure from the Companies Act 2006 has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.

Stocks and work in progress
Stocks and work in progress are stated at the lower of cost and net realisable value. Costs include overheads which have been incurred in bringing the stock to its present location and condition. Net realisable value represents sales value less appropriate selling expenses.

ECONOMIC PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 00361410)

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


2. ACCOUNTING POLICIES - continued

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.

Financial instruments are recognised 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, which include cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial 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 company after deducting all of its liabilities.

Basic financial liabilities that are classified as debt, are initially 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 are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Fixed asset investments
Fixed asset investments are stated at cost less provision for permanent impairment.

Going concern
This year and in prior years, the company has incurred net losses. Despite these losses the company has significant net assets and the directors believe that the company will continue as a going concern for the foreseeable future. The directors have indicated they would support the company if needed to meet its obligations as they fall due.

3. EMPLOYEES AND DIRECTORS

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

ECONOMIC PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 00361410)

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


4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 1
Additions 50,000
At 31 December 2023 50,001
PROVISIONS
Provision for year 50,000
At 31 December 2023 50,000
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

Cluny Limited
Registered office: Scotland
Nature of business: Woodlands
%
Class of shares: holding
Ordinary 33.00
2023 2022
£    £   
Aggregate capital and reserves 50,003 50,003

In the opinion of the directors, the aggregate value of the assets of the company consisting of shares in or amounts owing from the associate, is not less than the amounts at which those assets are stated or included in the company's balance sheet.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 2,058,440
Revaluations (80,000 )
At 31 December 2023 1,978,440
NET BOOK VALUE
At 31 December 2023 1,978,440
At 31 December 2022 2,058,440

ECONOMIC PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 00361410)

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


5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 1,978,440

6. STOCKS
2023 2022
£    £   
Stock of trading properties 97,372 94,012

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,522 20,091
VAT - 15,148
Prepayments and accrued income 14,600 54,903
43,122 90,142

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,500 24,809
Corporation tax 5,674 7,643
VAT 2,611 -
Accruals and deferred income 30,776 29,837
42,561 62,289

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 1,175,000 1,300,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,175,000 1,300,000

The loan is secured by the property The Harbourside, Fort Road, Newhaven, BN9 9EL.

ECONOMIC PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 00361410)

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


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
107 Ordinary £1 107 107

12. RESERVES
Non
distributable
reserves
£   
At 1 January 2023 404,077
Transfer between reserves (80,000 )

At 31 December 2023 324,077

13. RELATED PARTY DISCLOSURES

During the year, the company paid advisory fees of £14,000 (2022: £14,000) to JREA Investments Limited, a company J Andrew is also a director of .





14. ULTIMATE CONTROLLING PARTY

The immediate parent company is Economic Holdings Limited, a company incorporated in England and Wales. The ultimate controlling party is the Alexandra Andrew Settlement, a trust in which Mrs A Andrew is a beneficiary.