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REGISTERED NUMBER: 05131736 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

EAST SUSSEX HOMES LIMITED

EAST SUSSEX HOMES LIMITED (REGISTERED NUMBER: 05131736)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EAST SUSSEX HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: W Digby Ware
Mrs K M Ware





SECRETARY: Mrs K M Ware





REGISTERED OFFICE: 30/34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 05131736 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

EAST SUSSEX HOMES LIMITED (REGISTERED NUMBER: 05131736)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investments 4 11,917 11,917
Investment property 5 8,080,258 7,596,000
8,092,175 7,607,917

CURRENT ASSETS
Debtors 6 2,025 282
Cash at bank 14,694 40,532
16,719 40,814
CREDITORS
Amounts falling due within one year 7 (3,281,128 ) (2,998,072 )
NET CURRENT LIABILITIES (3,264,409 ) (2,957,258 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,827,766

4,650,659

PROVISIONS FOR LIABILITIES 8 (554,289 ) (554,289 )

ACCRUALS AND DEFERRED INCOME (7,644 ) (9,686 )
NET ASSETS 4,265,833 4,086,684

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 2,877,587 2,877,587
Retained earnings 1,388,146 1,208,997
SHAREHOLDERS' FUNDS 4,265,833 4,086,684

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

EAST SUSSEX HOMES LIMITED (REGISTERED NUMBER: 05131736)

BALANCE SHEET - continued
31 MAY 2024


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





W Digby Ware - Director


EAST SUSSEX HOMES LIMITED (REGISTERED NUMBER: 05131736)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

East Sussex Homes 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.

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


EAST SUSSEX HOMES LIMITED (REGISTERED NUMBER: 05131736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
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.

Rental income
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase in line with expected general inflation in which case the income is recognised as revenue in accordance with the expected payments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023
and 31 May 2024 11,917
NET BOOK VALUE
At 31 May 2024 11,917
At 31 May 2023 11,917

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 7,596,000
Additions 484,258
At 31 May 2024 8,080,258
NET BOOK VALUE
At 31 May 2024 8,080,258
At 31 May 2023 7,596,000

EAST SUSSEX HOMES LIMITED (REGISTERED NUMBER: 05131736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2009 701,213
Valuation in 2010 342,371
Valuation in 2015 562,901
Valuation in 2023 1,825,390
Cost 4,648,383
8,080,258

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,482 -
Other debtors 543 282
2,025 282

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 2,844 1,158
Taxation and social security 60,022 57,861
Other creditors 3,218,262 2,939,053
3,281,128 2,998,072

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 554,289 554,289

Deferred
tax
£   
Balance at 1 June 2023 554,289
Balance at 31 May 2024 554,289

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

EAST SUSSEX HOMES LIMITED (REGISTERED NUMBER: 05131736)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. RESERVES
Fair
value
reserve
£   
At 1 June 2023
and 31 May 2024 2,877,587

The fair value reserve represents the change in the fair value of investment properties and the deferred tax provided on these fair value changes. The entire balance on this reserve is non-distributable.