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REGISTERED NUMBER: 05320774 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

REAL ESTATE LAND LIMITED

REAL ESTATE LAND LIMITED (REGISTERED NUMBER: 05320774)






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


REAL ESTATE LAND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P A E Bull
P M Mandell





REGISTERED OFFICE: The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ





REGISTERED NUMBER: 05320774 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

REAL ESTATE LAND LIMITED (REGISTERED NUMBER: 05320774)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 3 139,954 126,795

CURRENT ASSETS
Debtors 4 2,382 362
Cash at bank and in hand 5,163 1,352
7,545 1,714
CREDITORS
Amounts falling due within one year 5 114,549 114,075
NET CURRENT LIABILITIES (107,004 ) (112,361 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,950

14,434

CREDITORS
Amounts falling due after more than one
year

6

(107,755

)

(86,755

)

PROVISIONS FOR LIABILITIES (4,798 ) (3,646 )
NET LIABILITIES (79,603 ) (75,967 )

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 7 15,545 15,545
Retained earnings (95,150 ) (91,514 )
(79,603 ) (75,967 )

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.

REAL ESTATE LAND LIMITED (REGISTERED NUMBER: 05320774)

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 Board of Directors and authorised for issue on 15 September 2024 and were signed on its behalf by:




P M Mandell - Director



P A E Bull - Director


REAL ESTATE LAND LIMITED (REGISTERED NUMBER: 05320774)

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

1. 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.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Investment property
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.

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 taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

2. EMPLOYEES AND DIRECTORS

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

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 126,795
Additions 13,159
At 31 December 2023 139,954
NET BOOK VALUE
At 31 December 2023 139,954
At 31 December 2022 126,795

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 13,159
Cost 126,795
139,954

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
VAT 2,382 362

REAL ESTATE LAND LIMITED (REGISTERED NUMBER: 05320774)

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

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 180
Directors' loan accounts 112,735 112,735
Accrued expenses 1,814 1,160
114,549 114,075

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to associates 107,755 86,755

7. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 15,545

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, P M Mandell maintained his loan to the company. As at 31 December 2023, the company owed him £3,802 (2022: £3,802). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

During the year, P A E Bull maintained his loan to the company. As at 31 December 2023, the company owed him £108,933 (2022: £108,933). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand.

9. RELATED PARTY DISCLOSURES

As at the year end the company owes Real Estate Evolution Ltd £9,652 (2022: £9,652). A company in which P A E Bull is the sole director and shareholder.

As at the year end the company owes Affordable Housing Corp Ltd £69,653 (2022: £69,653). A company in which P M Mandell is a director and Affordable Housing Corp Ltd owns 50% of the shareholding in this company.

As at the year end the company owes Peter Lind Private Clients Limited £28,450 (2022: £7,450). A company in which P M Mandell is the sole director and shareholder.

10. ULTIMATE CONTROLLING PARTY

As there is no majority shareholder the company is controlled by the Board.

11. ACCOUNTING BASIS

As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. During the year the company made a loss of £2,484, and as at the year end the current liabilities exceeded current assets by £107,004.

The validity of this basis depends upon the continued support of the company's directors. The directors confirm that they will give the required support.