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REGISTERED NUMBER: 06982371 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ESTATES GB LTD

ESTATES GB LTD (REGISTERED NUMBER: 06982371)






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


ESTATES GB LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: A Miller





REGISTERED OFFICE: 9 Waterside Business Park
Livingstone Road
Hessle
Hull
East Yorkshire
HU13 0EG





REGISTERED NUMBER: 06982371 (England and Wales)

ESTATES GB LTD (REGISTERED NUMBER: 06982371)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 26,720,000 19,936,479

CURRENT ASSETS
Stocks 718 3,588
Debtors 6 141,950 37,588
Cash at bank 413 165,087
143,081 206,263
CREDITORS
Amounts falling due within one year 7 5,780,522 4,243,346
NET CURRENT LIABILITIES (5,637,441 ) (4,037,083 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,082,559

15,899,396

CREDITORS
Amounts falling due after more than one
year

8

(3,874,000

)

(5,694,000

)

PROVISIONS FOR LIABILITIES 10 (2,837,536 ) (1,182,941 )
NET ASSETS 14,371,023 9,022,455

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 14,370,923 9,022,355
SHAREHOLDERS' FUNDS 14,371,023 9,022,455

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.

ESTATES GB LTD (REGISTERED NUMBER: 06982371)

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 director and authorised for issue on 19 September 2024 and were signed by:





A Miller - Director


ESTATES GB LTD (REGISTERED NUMBER: 06982371)

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

1. STATUTORY INFORMATION

Estates GB Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
No significant judgements have had to be made by the directors in preparing these financial statements.

The director has made key assumptions in the determination of the fair value of investment properties in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the assets.

REVENUE
Rental income
Revenue comprises the value of rental income receivable from the letting of investment property owned by the Company and administration fees charged in respect of setting up new tenancy agreements.
Rental income is recognised on a time basis and is measured over the duration of each respective tenancy agreement, but, is only recognised to the extent that it is probable that the economic benefits will flow to the company, the amount of revenue can be reliably measured and it is probable that the Company will receive the consideration due under the tenancy agreement.

Administration fees are recognised as they are charged to the tenant on signing a tenancy agreement.

The company is not registered for Value Added Tax.

INVESTMENT PROPERTY
Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.
Investment properties whose fair value can be measured reliably are measured at fair value. The surplus or deficit on revaluation is recognised in the income statement accumulated in a non-distributable reserve.
The company engage an independent valuer to assist the director in determining fair value.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


ESTATES GB LTD (REGISTERED NUMBER: 06982371)

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

3. ACCOUNTING POLICIES - continued
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
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.

FOREIGN CURRENCIES
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 19,936,479
Additions 165,141
Revaluations 6,618,380
At 31 December 2023 26,720,000
NET BOOK VALUE
At 31 December 2023 26,720,000
At 31 December 2022 19,936,479

Investment property is utilised under short term operating leases.

Valuations of a sample of the property portfolio were carried out by Allsop & Co during the year.

ESTATES GB LTD (REGISTERED NUMBER: 06982371)

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 55,998 19,450
Other debtors 85,952 18,138
141,950 37,588

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,820,000 660,000
Taxation and social security 158,322 138,161
Other creditors 3,802,200 3,445,185
5,780,522 4,243,346

Other creditors include an amount of £3,495,229 (2022 - £3,145,078) payable to Estates UK Limited, a company in which the director, Mr A Miller, holds a controlling interest.

Also included is an amount due to the director, Mr A Miller amounting to £78,997 (2022 - £109,671).

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 3,874,000 5,694,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 2,080,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 5,694,000 6,354,000

The bank loans are secured by way of first charges over specific individual investment properties together with a debenture over all the assets of the company.

10. PROVISIONS FOR LIABILITIES

The full provision for deferred tax is made up of a charge based upon the revaluation of investment property.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by Miss S V Miller, Mr J A Miller and Mr H J Miller.