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Registered number: 12762517









THE ESTATES AGENT LIMITED (FORMERLY KNOWN AS FINDERS INTERNATIONAL ESTATE AGENTS LIMITED)









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
THE ESTATES AGENT LIMITED
REGISTERED NUMBER: 12762517

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,067,582
764,429

Cash at bank and in hand
 5 
115,973
191,958

  
1,183,555
956,387

Creditors: amounts falling due within one year
 6 
(827,304)
(652,152)

Net current assets
  
 
 
356,251
 
 
304,235

Total assets less current liabilities
  
356,251
304,235

  

Net assets
  
356,251
304,235


Capital and reserves
  

Called up share capital 
 7 
1
1

Profit and loss account
 8 
356,250
304,234

  
356,251
304,235


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 October 2024.




D W Curran
Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
THE ESTATES AGENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The Estates Agent Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.
The principal activity of the company is that of estate agents.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

As explained in note 2.3 to the financial statements, the directors have decided to cease the company’s operations post year end and therefore the financial statements have been prepared on a basis other than the going concern basis. No adjustments to the balance sheet were considered necessary in these financial statements, as the net assets are considered to be shown at their recoverable amounts. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date. 

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Lillebus Holdings Limited  as at 31 January 2024 and these financial statements may be obtained from companies house.

 
2.3

Going concern

Subsequent to the year end, the company has decided to wind down its operations. The company will continue to operate in order to collect the remaining debtors due to the company. As the company has decided to wind down its operation it was decided by the Board that the financial statements should not be prepared on a going concern basis. No adjustment were considered to be necessary to the amounts at which the remaining net assets are included in these financial statements. 

Page 2

 
THE ESTATES AGENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
THE ESTATES AGENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including the director, during the year was 7 (2023 - 6).


4.


Debtors

2024
2023
£
£


Trade debtors
857,306
667,584

Other debtors
175,230
81,922

Prepayments and accrued income
35,046
14,923

1,067,582
764,429



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
115,973
191,958


Page 4

 
THE ESTATES AGENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
23,335
17,868

Amounts owed to group undertakings
458,510
461,175

Corporation tax
16,700
41,873

Other taxation and social security
42,287
17,031

Other creditors
26,843
899

Accruals and deferred income
259,629
113,306

827,304
652,152



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1.00
1
1



8.


Reserves

Profit and loss account

The profit and loss account consists of distributable reserves arising from cumulative historical profits and losses net of dividends or other adjustments.


9.


Pension commitments

The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost represents contributions payable by the Company to the fund and amounted to £4,264 (2023 - £3,301). The outstanding liability at the year end was £1,383 (2023 - £899).


10.


Post balance sheet events

Subsequent to the year end, the company has decided to wind down its operations. The company will continue to operate in order to collect the remaining debtors due to the company. As the company has decided to wind down its operation it was decided by the Board that the financial statements should not be prepared on a going concern basis. No adjustment were considered to be necessary to the amounts at which the remaining net assets are included in these financial statements.  

Page 5

 
THE ESTATES AGENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Related party transactions

The company has taken advantage of the exemption, under FRS 102 paragraph 1.12 and paragraph 33.1A from disclosing transactions with key management and from disclosing other related party transactions as they are with other companies that are wholly owned within the group.
At the year the company owed £22,291 
(2023 - £461,175) to companies under common control.


12.


Controlling party

During the year, a group re-organisation took place resulting in Nielsen-Curran Holdings Limited (formerly known as Finders International Holdings Limited) no longer being the company's ultimate parent company. Lillebus Holdings Limited is now considered to be the company's ultimate parent undertaking at the year end. The Company is included in the consolidated accounts prepared by Lillebus Holdings Ltd and copies of those can be obtained from Companies House.
Mr D W Curran is considered to be the ultimate controlling party.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

As explained in note 2.3 to the financial statements, the company will has decided to cease its operations post year end and the financial statements have been prepared on a basis other than the going concern basis. No adjustment were considered to be necessary to the amounts at which the remaining net assets are included in these financial statements. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.

The audit report was signed on 10 October 2024 by Adam Dodds (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 6