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Registered number: 10076137
Expansion Properties Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
SAS Accounting Services Ltd
The Colchester Centre
Hawkins Road
Colchester
CO2 8JX
Contents
Page
Statement of Financial Position 1
Notes to the Financial Statements 2—3
Page 1
Statement of Financial Position
Registered number: 10076137
2024 2023
Notes £ £ £ £
FIXED ASSETS
Investments 4 2,603,713 2,603,713
2,603,713 2,603,713
Creditors: Amounts Falling Due Within One Year 5 (63 ) (53 )
NET CURRENT ASSETS (LIABILITIES) (63 ) (53 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,603,650 2,603,660
Creditors: Amounts Falling Due After More Than One Year 6 (2,531,145 ) (2,531,145 )
NET ASSETS 72,505 72,515
CAPITAL AND RESERVES
Called up share capital 7 3 3
Share premium account 72,565 72,565
Income Statement (63 ) (53 )
SHAREHOLDERS' FUNDS 72,505 72,515
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Cyril Thomas
Director
20th December 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Expansion Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10076137 . The registered office is The Colchester Centre, Hawkins Road, Colchester, Essex, CO2 8JX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Investments
Other
£
Cost
As at 1 April 2023 2,603,713
As at 31 March 2024 2,603,713
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 2,603,713
As at 1 April 2023 2,603,713
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 60 50
Corporation tax 3 3
63 53
Page 2
Page 3
6. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 2,219,932 2,219,932
Directors loan account 311,213 311,213
2,531,145 2,531,145
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
Page 3