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REGISTERED NUMBER: 03211811 (England and Wales)













E.S.L. (BASILDON) HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






E.S.L. (BASILDON) HOLDINGS LIMITED (REGISTERED NUMBER: 03211811)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


E.S.L. (BASILDON) HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: B D Townsend
Mrs J C Townsend





SECRETARY: Mrs C L Welsford





REGISTERED OFFICE: 255 Green Lanes
Palmers Green
London
N13 4XE





REGISTERED NUMBER: 03211811 (England and Wales)





ACCOUNTANTS: John Crook & Partners
Chartered Accountants
255 Green Lanes
Palmers Green
London
N13 4XE

E.S.L. (BASILDON) HOLDINGS LIMITED (REGISTERED NUMBER: 03211811)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 173,009 207,710
Investment property 5 8,433,104 6,933,130
8,606,113 7,140,840

CURRENT ASSETS
Debtors 6 2,733,709 3,542,026
Cash at bank and in hand 631,144 208,773
3,364,853 3,750,799
CREDITORS
Amounts falling due within one year 7 905,080 755,741
NET CURRENT ASSETS 2,459,773 2,995,058
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,065,886

10,135,898

CREDITORS
Amounts falling due after more than one
year

8

(1,703,579

)

(2,032,864

)

PROVISIONS FOR LIABILITIES (796,452 ) (325,366 )
NET ASSETS 8,565,855 7,777,668

CAPITAL AND RESERVES
Called up share capital 10 4,467 4,467
Fair value reserve 11 2,782,474 1,761,720
Retained earnings 11 5,778,914 6,011,481
SHAREHOLDERS' FUNDS 8,565,855 7,777,668

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.

E.S.L. (BASILDON) HOLDINGS LIMITED (REGISTERED NUMBER: 03211811)

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 18 September 2024 and were signed on its behalf by:




B D Townsend - Director



Mrs J C Townsend - Director


E.S.L. (BASILDON) HOLDINGS LIMITED (REGISTERED NUMBER: 03211811)

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

1. STATUTORY INFORMATION

E.S.L. (Basildon) Holdings 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 "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.

Turnover
Turnover represents the amount derived from rents receivable from properties and providing management services to group companies, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance, over the unexpired lease term and Straight line over 13 years
Motor vehicles - 25% on reducing balance

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 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

E.S.L. (BASILDON) HOLDINGS LIMITED (REGISTERED NUMBER: 03211811)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 315,156 71,500 386,656
DEPRECIATION
At 1 January 2023 152,072 26,874 178,946
Charge for year 23,545 11,156 34,701
At 31 December 2023 175,617 38,030 213,647
NET BOOK VALUE
At 31 December 2023 139,539 33,470 173,009
At 31 December 2022 163,084 44,626 207,710

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 6,933,130
Revaluations 1,499,974
At 31 December 2023 8,433,104
NET BOOK VALUE
At 31 December 2023 8,433,104
At 31 December 2022 6,933,130

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2003 497,576
Valuation in 2014 473,213
Valuation in 2016 (39,790 )
Valuation in 2017 1,371,400
Valuation in 2019 (375,000 )
Valuation in 2023 1,499,974
Cost 5,005,731
8,433,104

If the investment property had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 5,005,731 5,005,731

The investment property was valued on an open market basis on 31 December 2023 by the directors .

E.S.L. (BASILDON) HOLDINGS LIMITED (REGISTERED NUMBER: 03211811)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 118,226 56,063
Amounts owed by associates 2,250,000 3,000,000
Other debtors 365,483 485,963
2,733,709 3,542,026

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 117,617 97,818
Trade creditors 4,475 10,829
Amounts owed to group undertakings 395,448 549,005
Taxation and social security 24,012 50,999
Other creditors 363,528 47,090
905,080 755,741

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1,703,579 2,032,864

Amounts falling due in more than five years:

Repayable by instalments
Bank loan repayable in more than five years 1,182,161 1,540,552

Subsequent to the year end, the loan was repaid by way of a directors' loan.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,821,196 2,130,682

The bank loan is secured by a charge on the investment properties and by a fixed and floating charge over the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4,467 Ordinary £1 4,467 4,467

E.S.L. (BASILDON) HOLDINGS LIMITED (REGISTERED NUMBER: 03211811)

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

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2023 6,011,481 1,761,720 7,773,201
Profit for the year 1,028,187 1,028,187
Dividends (240,000 ) (240,000 )
Revaluation in year (1,020,754 ) 1,020,754 -
At 31 December 2023 5,778,914 2,782,474 8,561,388

12. OTHER FINANCIAL COMMITMENTS

The company has entered into a cross guarantee with its parent company to secure its bank overdraft and borrowings.

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
B D Townsend and Mrs J C Townsend
Balance outstanding at start of year 469,963 118,191
Amounts advanced 278,387 -
Amounts repaid (469,963 ) (118,191 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 278,387 469,963

The loan is repayable on demand.

E.S.L. (BASILDON) HOLDINGS LIMITED (REGISTERED NUMBER: 03211811)

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

14. RELATED PARTY DISCLOSURES

ESL Group Holdings Limited
The parent company.

At the year end, the company was owed £118,226 (2022: £56,063) by ESL Group Holdings Limited.

ESL Engineers (Basildon) Limited
A company under common control.

The company has received rent totalling £231,668 (2022 - £225,000).

At the year end, the company owed £693,392 (2022: £521,245) to ESL Engineers (Basildon) Limited.

ESL Partnership Limited
A company controlled by BD Townsend and Mrs JC Townsend.

During the year to 31 December 2021, the company sold its trading subsidiaries ESL Engineers (Basildon) Limited and Robert Pringle Engineers (UK) Limited to ESL Partnership Limited for a consideration of £3,000,000 which was considered a fair market value.

At the year end £2,250,000 (2022: £3,000,000) remained outstanding.

Robert Pringle Engineers (UK) Limited
A company under common control.

At the year end, the company owed £27,760 (2022: £27,760) to ESL Engineers (Basildon) Limited.

15. ULTIMATE CONTROLLING PARTY

The controlling party is ESL Group Holdings Limited.

The ultimate controlling parties are BD Townsend and Mrs JC Townsend