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REGISTERED NUMBER: 04998358 (England and Wales)















ISE ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






ISE ESTATES LIMITED (REGISTERED NUMBER: 04998358)

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


ISE ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: A B Greatrex
Mrs A J Park
C S Simmons





REGISTERED OFFICE: Gibson House
Hurricane Court
Hurricane Close
Stafford
ST16 1GZ





REGISTERED NUMBER: 04998358 (England and Wales)

ISE ESTATES LIMITED (REGISTERED NUMBER: 04998358)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 55,368 16,370
Investment property 5 12,695,168 11,907,165
12,750,536 11,923,535

CURRENT ASSETS
Debtors 6 187,598 1,030,530
Cash at bank 297,024 594,808
484,622 1,625,338
CREDITORS
Amounts falling due within one year 7 (2,756,504 ) (2,640,335 )
NET CURRENT LIABILITIES (2,271,882 ) (1,014,997 )
TOTAL ASSETS LESS CURRENT LIABILITIES 10,478,654 10,908,538

CREDITORS
Amounts falling due after more than one
year

8

(928,457

)

(1,348,423

)

PROVISIONS FOR LIABILITIES (2,498 ) -
NET ASSETS 9,547,699 9,560,115

CAPITAL AND RESERVES
Called up share capital 9 300,000 300,000
Revaluation reserve 10 2,579,701 2,579,701
Retained earnings 6,667,998 6,680,414
SHAREHOLDERS' FUNDS 9,547,699 9,560,115

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.

ISE ESTATES LIMITED (REGISTERED NUMBER: 04998358)

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 13 September 2024 and were signed on its behalf by:




A B Greatrex - Director C S Simmons - Director




Mrs A J Park - Director


ISE ESTATES LIMITED (REGISTERED NUMBER: 04998358)

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


1. STATUTORY INFORMATION

ISE Estates 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 Section 1A "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.

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.

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable net of VAT. The policies adopted for the recognition of turnover are as follows:

Rental income
Rental income from operating leases (net of any incentives given to the lessees) is recognised on a straight-line basis over the lease term.

Interest receivable
Interest income is recognised using the effective interest method is recognised as the company's right to receive payment is established.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance and 10% on cost
Fixtures and fittings - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
In the opinion of the directors the investment property is included at an amount that accords to its fair value at the balance sheet date. Revaluation surpluses are recognised in the profit and loss account. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.


ISE ESTATES LIMITED (REGISTERED NUMBER: 04998358)

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


2. ACCOUNTING POLICIES - continued
Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

ISE ESTATES LIMITED (REGISTERED NUMBER: 04998358)

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


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 2,277,808
Additions 57,454
At 31 December 2023 2,335,262
DEPRECIATION
At 1 January 2023 2,261,438
Charge for year 18,456
At 31 December 2023 2,279,894
NET BOOK VALUE
At 31 December 2023 55,368
At 31 December 2022 16,370

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 11,907,165
Additions 788,003
At 31 December 2023 12,695,168
NET BOOK VALUE
At 31 December 2023 12,695,168
At 31 December 2022 11,907,165

The directors are of the opinion that the fair value of the investment property as at 31 December 2023 accords to value shown on the balance sheet, being £12,695,167. The value is based on an external valuation in 2006 with subsequent movements at cost.

The historical cost of the investment property as at 31 December 2023 was £10,115,466 (2022 £9,327,464).

ISE ESTATES LIMITED (REGISTERED NUMBER: 04998358)

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


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 131,283 94,258
Other debtors 91 882,538
VAT - 8,699
Deferred tax asset
Accelerated capital allowances - 9,452
Prepayments and accrued income 56,224 35,583
187,598 1,030,530

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,219,966 2,219,966
Trade creditors 215,115 206,604
Tax 54,227 152,639
VAT 10,823 -
Other creditors 222,550 5,374
Accruals and deferred income 33,823 55,752
2,756,504 2,640,335

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 928,457 1,348,423

Bank loans totalling £3,148,422 (2022 - £3,568,389) are secured against the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100,000 Ordinary A £1 100,000 100,000
100,000 Ordinary B £1 100,000 100,000
100,000 Ordinary C £1 100,000 100,000
300,000 300,000

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 2,579,701

ISE ESTATES LIMITED (REGISTERED NUMBER: 04998358)

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


11. RELATED PARTY DISCLOSURES

During the year the company had transactions with other companies in which the directors had participating interests in. The aggregate amount of these transactions in the year amounted to £1,343,285 (2022 - £725,903). The aggregate amounts outstanding from these companies as at 31 December 2023 amounted to £384,990 (2022 - £886,588).