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Registration number: 01366372

Estabond Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Estabond Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Abridged Financial Statements

9 to 12

iXBRL Detailed Profit and Loss Account

13

 

Estabond Limited

Company Information

Director

G Maccioni

Company secretary

L G Maccioni

Registered office

48 Sutherland Avenue
Petts Wood
Orpington
Kent
BR5 1RB

Accountants

Astons
35 Bouverie Square
Folkestone
Kent
CT20 1BA

 

Estabond Limited

Director's Report for the Year Ended 31 March 2024

The director presents his report and the abridged financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

G Maccioni

Principal activity

The principal activity of the company is Property Rental

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 November 2024
 

.........................................
L G Maccioni
Company secretary

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Estabond Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Estabond Limited for the year ended 31 March 2024 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Estabond Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Estabond Limited and state those matters that we have agreed to state to the Board of Directors of Estabond Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Estabond Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Estabond Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Estabond Limited. You consider that Estabond Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Estabond Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Astons
35 Bouverie Square
Folkestone
Kent
CT20 1BA

29 November 2024

 

Estabond Limited

Abridged Profit and Loss Account for the Year Ended 31 March 2024

Note

2024
£

2023
£

Gross profit

 

56,381

60,124

Administrative expenses

 

(4,889)

(4,202)

Profit before tax

4

51,492

55,922

Tax on profit

 

(9,935)

(10,625)

Profit for the financial year

 

41,557

45,297

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Estabond Limited

Statement of Comprehensive Income for the Year Ended 31 March 2024

2024
£

2023
£

Profit for the year

41,557

45,297

Total comprehensive income for the year

41,557

45,297

 

Estabond Limited

(Registration number: 01366372)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

449

599

Investment property

1,118,234

1,118,234

 

1,118,683

1,118,833

Current assets

 

Debtors

6

-

2,000

Cash at bank and in hand

 

2,315

5,395

 

2,315

7,395

Creditors: Amounts falling due within one year

(187,225)

(232,012)

Net current liabilities

 

(184,910)

(224,617)

Net assets

 

933,773

894,216

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

933,673

894,116

Shareholders' funds

 

933,773

894,216

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 29 November 2024
 

 

Estabond Limited

(Registration number: 01366372)
Abridged Balance Sheet as at 31 March 2024

.........................................
L G Maccioni
Company secretary

.........................................
G Maccioni
Director

 

Estabond Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Retained earnings
£

Total
£

At 1 April 2023

100

894,116

894,216

Profit for the year

-

41,557

41,557

Dividends

-

(2,000)

(2,000)

At 31 March 2024

100

933,673

933,773

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

100

852,819

852,919

Profit for the year

-

45,297

45,297

Dividends

-

(4,000)

(4,000)

At 31 March 2023

100

894,116

894,216

 

Estabond Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
48 Sutherland Avenue
Petts Wood
Orpington
Kent
BR5 1RB
United Kingdom

These financial statements were authorised for issue by the director on 29 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Estabond Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

25% on cost or written down value

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Estabond Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

149

200

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

799

799

At 31 March 2024

799

799

Depreciation

At 1 April 2023

200

200

Charge for the year

150

150

At 31 March 2024

350

350

Carrying amount

At 31 March 2024

449

449

At 31 March 2023

599

599

Investment properties

2024
£

At 1 April

1,118,234

Investment Properties are shown at cost.

There has been no valuation of investment property by an independent valuer.

6

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

 

Estabond Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £20.00 (2023 - £40.00) per each Ordinary

2,000

4,000

 

 
 

Estabond Limited

iXBRL Detailed Profit and Loss Account for the Year Ended 31 March 2024

2024
£

2023
£

Turnover/revenue

56,381

60,124

Cost of sales

Opening stock/inventories

-

-

Closing stock/inventories

-

-

Gross profit

56,381

60,124

Distribution costs

Administrative expenses

Audit and accountancy other services

(1,325)

(1,270)

Other repairs and maintenance costs

(110)

-

Depreciation of fixed assets

(149)

(200)

Other staff costs

(273)

(59)

Bank charges

(22)

(25)

Insurance costs

(1,445)

(1,554)

IT and computing

(90)

(36)

Telecommunications

(396)

(471)

Other costs

(1,079)

(587)

Other operating income

Other items

Profit on ordinary activities before taxation

51,492

55,922

Tax on profit or loss on ordinary activities

(9,935)

(10,625)

Profit for the financial year

41,557

45,297