11 01/03/2023 28/02/2024 2024-02-28 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07242241 2023-03-01 2024-02-28 07242241 2024-02-28 07242241 2023-02-28 07242241 2022-03-01 2023-02-28 07242241 2023-02-28 07242241 2022-02-28 07242241 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-28 07242241 bus:RegisteredOffice 2023-03-01 2024-02-28 07242241 bus:LeadAgentIfApplicable 2023-03-01 2024-02-28 07242241 bus:Director1 2023-03-01 2024-02-28 07242241 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 07242241 core:FurnitureFittingsToolsEquipment 2023-02-28 07242241 core:LandBuildings core:ShortLeaseholdAssets 2024-02-28 07242241 core:FurnitureFittingsToolsEquipment 2024-02-28 07242241 core:WithinOneYear 2024-02-28 07242241 core:WithinOneYear 2023-02-28 07242241 core:LandBuildings core:ShortLeaseholdAssets 2023-03-01 2024-02-28 07242241 core:ShareCapital 2024-02-28 07242241 core:ShareCapital 2023-02-28 07242241 core:RetainedEarningsAccumulatedLosses 2024-02-28 07242241 core:RetainedEarningsAccumulatedLosses 2023-02-28 07242241 core:LandBuildings core:ShortLeaseholdAssets 2023-02-28 07242241 core:FurnitureFittingsToolsEquipment 2023-02-28 07242241 bus:Director1 2023-02-28 07242241 bus:Director1 2024-02-28 07242241 bus:Director1 2022-02-28 07242241 bus:Director1 2023-02-28 07242241 bus:Director1 2022-03-01 2023-02-28 07242241 bus:SmallEntities 2023-03-01 2024-02-28 07242241 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 07242241 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 07242241 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 07242241 bus:FullAccounts 2023-03-01 2024-02-28 07242241 1 2023-03-01 2024-02-28
Company registration number: 07242241
Estates 17 Limited
Unaudited filleted financial statements
28 February 2024
Estates 17 Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Estates 17 Limited
Directors and other information
Directors Mr Neil Collins
Company number 07242241
Registered office 40 Orford Road
London
E17 9NJ
Business address 40 Orford Road
Walthamstow
London
E17 9NJ
Accountants Hill Allen (Wickford) Limited
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers Lloyds Bank plc
1 Legg Street
Chelmsford
CM1 1JS
Estates 17 Limited
Statement of financial position
28 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 22,452 37,056
_______ _______
22,452 37,056
Current assets
Debtors 6 234,277 244,221
Cash at bank and in hand 74,977 80,152
_______ _______
309,254 324,373
Creditors: amounts falling due
within one year 7 ( 70,316) ( 81,976)
_______ _______
Net current assets 238,938 242,397
_______ _______
Total assets less current liabilities 261,390 279,453
_______ _______
Net assets 261,390 279,453
_______ _______
Capital and reserves
Called up share capital 202 202
Profit and loss account 261,188 279,251
_______ _______
Shareholders funds 261,390 279,453
_______ _______
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 30 October 2024 , and are signed on behalf of the board by:
Mr Neil Collins
Director
Company registration number: 07242241
Estates 17 Limited
Notes to the financial statements
Year ended 28 February 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 40 Orford Road, London, E17 9NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Over period of lease
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2023: 15 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 March 2023 35,316 59,749 95,065
Disposals - ( 12,414) ( 12,414)
_______ _______ _______
At 28 February 2024 35,316 47,335 82,651
_______ _______ _______
Depreciation
At 1 March 2023 20,247 37,762 58,009
Charge for the year 2,770 11,834 14,604
Disposals - ( 12,414) ( 12,414)
_______ _______ _______
At 28 February 2024 23,017 37,182 60,199
_______ _______ _______
Carrying amount
At 28 February 2024 12,299 10,153 22,452
_______ _______ _______
At 28 February 2023 15,069 21,987 37,056
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 59,425 38,620
Other debtors 174,852 205,601
_______ _______
234,277 244,221
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 24,903 34,796
Corporation tax 151 -
Social security and other taxes 26,293 39,754
Other creditors 18,969 7,426
_______ _______
70,316 81,976
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Neil Collins 128,726 1,673 ( 10,500) 119,899
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Neil Collins 119,852 33,874 ( 25,000) 128,726
_______ _______ _______ _______
9. Controlling party
The company is controlled by the director N Collins .