Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-01false41100 - Development of building projectsfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02943975 2023-10-01 2024-09-30 02943975 2024-09-30 02943975 2023-09-30 02943975 2023-10-01 2024-09-30 02943975 2022-10-01 2023-09-30 02943975 2024-09-30 02943975 2023-09-30 02943975 2022-10-01 02943975 c:Director2 2023-10-01 2024-09-30 02943975 d:OfficeEquipment 2023-10-01 2024-09-30 02943975 d:CurrentFinancialInstruments 2024-09-30 02943975 d:CurrentFinancialInstruments 2023-09-30 02943975 d:Non-currentFinancialInstruments 2024-09-30 02943975 d:Non-currentFinancialInstruments 2023-09-30 02943975 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 02943975 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02943975 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 02943975 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 02943975 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-09-30 02943975 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 02943975 d:ShareCapital 2023-10-01 2024-09-30 02943975 d:ShareCapital 2024-09-30 02943975 d:ShareCapital 2022-10-01 2023-09-30 02943975 d:ShareCapital 2023-09-30 02943975 d:ShareCapital 2022-10-01 02943975 d:CapitalRedemptionReserve 2023-10-01 2024-09-30 02943975 d:CapitalRedemptionReserve 2024-09-30 02943975 d:CapitalRedemptionReserve 2022-10-01 2023-09-30 02943975 d:CapitalRedemptionReserve 2023-09-30 02943975 d:CapitalRedemptionReserve 2022-10-01 02943975 d:InvestmentPropertiesRevaluationReserve 2023-10-01 2024-09-30 02943975 d:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 02943975 d:RetainedEarningsAccumulatedLosses 2024-09-30 02943975 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 02943975 d:RetainedEarningsAccumulatedLosses 2023-09-30 02943975 d:RetainedEarningsAccumulatedLosses 2022-10-01 02943975 c:OrdinaryShareClass1 2023-10-01 2024-09-30 02943975 c:OrdinaryShareClass1 2024-09-30 02943975 c:OrdinaryShareClass1 2023-09-30 02943975 c:OrdinaryShareClass2 2023-10-01 2024-09-30 02943975 c:OrdinaryShareClass2 2024-09-30 02943975 c:OrdinaryShareClass2 2023-09-30 02943975 c:OrdinaryShareClass3 2023-10-01 2024-09-30 02943975 c:OrdinaryShareClass3 2024-09-30 02943975 c:OrdinaryShareClass3 2023-09-30 02943975 c:OrdinaryShareClass4 2023-10-01 2024-09-30 02943975 c:OrdinaryShareClass4 2024-09-30 02943975 c:OrdinaryShareClass4 2023-09-30 02943975 c:FRS102 2023-10-01 2024-09-30 02943975 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 02943975 c:FullAccounts 2023-10-01 2024-09-30 02943975 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02943975 d:Subsidiary1 2023-10-01 2024-09-30 02943975 d:Subsidiary1 1 2023-10-01 2024-09-30 02943975 d:Subsidiary2 2023-10-01 2024-09-30 02943975 d:Subsidiary2 1 2023-10-01 2024-09-30 02943975 d:Subsidiary3 2023-10-01 2024-09-30 02943975 d:Subsidiary3 1 2023-10-01 2024-09-30 02943975 c:Consolidated 2024-09-30 02943975 c:ConsolidatedGroupCompanyAccounts 2023-10-01 2024-09-30 02943975 2 2023-10-01 2024-09-30 02943975 4 2023-10-01 2024-09-30 02943975 6 2023-10-01 2024-09-30 02943975 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02943975









Earl Estates Limited







Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 September 2024

 
Earl Estates Limited
Registered number: 02943975

Consolidated statement of financial position
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
3,064
590

Investment property
 8 
5,300,000
5,300,000

  
5,303,064
5,300,590

Current assets
  

Debtors: amounts falling due within one year
 9 
85,990
17,035

Cash at bank and in hand
 10 
518,879
733,632

  
604,869
750,667

Creditors: amounts falling due within one year
 11 
(232,952)
(363,997)

Net current assets
  
 
 
371,917
 
 
386,670

Total assets less current liabilities
  
5,674,981
5,687,260

Creditors: amounts falling due after more than one year
 12 
(1,400,000)
(1,400,000)

Provisions for liabilities
  

Deferred taxation
 14 
(54,850)
(54,850)

  
 
 
(54,850)
 
 
(54,850)

Net assets excluding pension asset
  
4,220,131
4,232,410

Net assets
  
4,220,131
4,232,410


Capital and reserves
  

Called up share capital 
 15 
170
170

Capital redemption reserve
 16 
830
830

Investment property reserve
 16 
539,946
539,946

Profit and loss account
 16 
3,679,185
3,691,464

Equity attributable to owners of the parent Company
  
4,220,131
4,232,410

  
4,220,131
4,232,410


Page 1

 
Earl Estates Limited
Registered number: 02943975
    
Consolidated statement of financial position (continued)
As at 30 September 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 consolidated income statement 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 9 January 2025.





Martin Thomas Harrison
Director

The notes on pages 8 to 17 form part of these financial statements.

Page 2

 
Earl Estates Limited
Registered number: 02943975

Company statement of financial position
As at 30 September 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
3,064
590

Investments
 7 
3
3

  
3,067
593

Current assets
  

Debtors: amounts falling due within one year
 9 
2,487,015
3,844,559

Cash at bank and in hand
 10 
518,879
733,632

  
3,005,894
4,578,191

Creditors: amounts falling due within one year
 11 
(25,694)
(2,203,193)

Net current assets
  
 
 
2,980,200
 
 
2,374,998

Total assets less current liabilities
  
2,983,267
2,375,591

  

Creditors: amounts falling due after more than one year
 12 
(1,400,000)
(1,400,000)

  

Net assets excluding pension asset
  
1,583,267
975,591

Net assets
  
1,583,267
975,591


Capital and reserves
  

Called up share capital 
 15 
170
170

Capital redemption reserve
 16 
830
830

Profit and loss account brought forward
  
974,591
684,339

Profit for the year
  
657,708
390,252

Other changes in the profit and loss account

  

(50,032)
(100,000)

Profit and loss account carried forward
  
1,582,267
974,591

  
1,583,267
975,591


Page 3

 
Earl Estates Limited
Registered number: 02943975
    
Company statement of financial position (continued)
As at 30 September 2024

The directors consider that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 consolidated income statement 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 9 January 2025.





Martin Thomas Harrison
Director

The notes on pages 8 to 17 form part of these financial statements.

Page 4

 
Earl Estates Limited
 

Consolidated statement of changes in equity
For the Year Ended 30 September 2024


Called up share capital
Capital redemption reserve
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 October 2022
170
830
2,552,050
2,126,739
4,679,789


Comprehensive income for the year

Profit for the year

-
-
-
262,621
262,621

B/F revaluation gain transferred to retained earnings
-
-
(1,402,104)
1,402,104
-

Revaluation losses for the year
-
-
(610,000)
-
(610,000)


Other comprehensive income for the year
-
-
(2,012,104)
1,402,104
(610,000)


Total comprehensive income for the year
-
-
(2,012,104)
1,664,725
(347,379)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(100,000)
(100,000)


Total transactions with owners
-
-
-
(100,000)
(100,000)



At 1 October 2023
170
830
539,946
3,691,464
4,232,410


Comprehensive income for the year

Profit for the year

-
-
-
37,753
37,753


Other comprehensive income for the year
-
-
-
-
-


Total comprehensive income for the year
-
-
-
37,753
37,753


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(50,032)
(50,032)


Total transactions with owners
-
-
-
(50,032)
(50,032)


At 30 September 2024
170
830
539,946
3,679,185
4,220,131


Page 5

 
Earl Estates Limited
 


Consolidated statement of changes in equity (continued)
For the Year Ended 30 September 2024

The notes on pages 8 to 17 form part of these financial statements.

Page 6

 
Earl Estates Limited
 

Company statement of changes in equity
For the Year Ended 30 September 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 October 2022
170
830
684,339
685,339


Comprehensive income for the year

Profit for the year

-
-
390,252
390,252


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
390,252
390,252


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(100,000)
(100,000)


Total transactions with owners
-
-
(100,000)
(100,000)



At 1 October 2023
170
830
974,591
975,591


Comprehensive income for the year

Profit for the year

-
-
657,708
657,708


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
657,708
657,708


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(50,032)
(50,032)


Total transactions with owners
-
-
(50,032)
(50,032)


At 30 September 2024
170
830
1,582,267
1,583,267


The notes on pages 8 to 17 form part of these financial statements.

Page 7

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

1.


General information

Earl Estates Limited is a company, Limited by shares, registered in England and Wales. The company's registered number and registered office is shown on company information page.
The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income statement in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated income statement from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 October 2015.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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:

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 8

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Group but are presented separately due to their size or incidence.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 9

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Consolidated income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.12

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.

 
2.13

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.

Page 10

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

2.Accounting policies (continued)

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing the financial statements, management are required to make estimates and judgments which may materially affect reported income, expenses, assets, liabilities or disclosure of contingent assets and liabilities, and the valuation of investment properties, which were based on open market transactions. The estimates and assumptions are reviewed on an on-going basis and are based on historical experience and other factors that are considered to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.


4.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).


5.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Income statement in these financial statements. The profit after tax of the parent Company for the year was £657,708 (2023 - £390,252).

Page 11

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

6.


Tangible fixed assets

Group and Company






Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
7,338
25,626
32,964


Additions
4,085
-
4,085



At 30 September 2024

11,423
25,626
37,049



Depreciation


At 1 October 2023
7,338
25,036
32,374


Charge for the year on owned assets
1,021
590
1,611



At 30 September 2024

8,359
25,626
33,985



Net book value



At 30 September 2024
3,064
-
3,064

Page 12

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

7.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
3



At 30 September 2024
3






Net book value



At 30 September 2024
3



At 30 September 2023
3


Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

Earl (Oxford) Limited
England & Wales
Property investment
Ordinary
100%
Earl (Kenilworth) Limited
England & Wales
Property investment
Ordinary
100%
Earl (Northampton) Limited
England & Wales
Property investment
Ordinary
100%

Page 13

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

8.


Investment property

Group


Freehold investment property

£



Valuation


At 1 October 2023
5,300,000



At 30 September 2024
5,300,000

The 2024 valuations were determined by Cluttons LLP, Chartered Surveyors, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
4,520,654
6,824,480

Disposal during the year
-
(2,303,826)

4,520,654
4,520,654




9.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
14,450
15,724
-
-

Amounts owed by group undertakings
-
-
2,415,570
3,844,559

Other debtors
71,540
1,311
71,445
-

85,990
17,035
2,487,015
3,844,559


Page 14

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

10.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
518,879
733,632
518,879
733,632

518,879
733,632
518,879
733,632



11.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
1,597
7,171
758
1,448

Amounts owed to group undertakings
-
-
-
2,143,584

Corporation tax
10,483
194,511
-
-

Other taxation and social security
72,756
38,716
4,984
38,716

Other creditors
720
-
720
-

Accruals and deferred income
147,396
123,599
19,232
19,445

232,952
363,997
25,694
2,203,193



12.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
1,400,000
1,400,000
1,400,000
1,400,000

1,400,000
1,400,000
1,400,000
1,400,000


Page 15

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

13.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£



Amounts falling due 2-5 years

Bank loans
1,400,000
1,400,000
1,400,000
1,400,000


1,400,000
1,400,000
1,400,000
1,400,000


1,400,000
1,400,000
1,400,000
1,400,000


The bank loans are secured by charge over the investment properties and interest at variable rate is payable on the loans. 


14.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
(54,850)
(383,470)


Utilised in year
-
328,620



At end of year
(54,850)
(54,850)

Company


2024
2023






At end of year
-
-
Group
Group
2024
2023
£
£

Revaluation gain on Investment Properties
(54,850)
(54,850)

(54,850)
(54,850)

Page 16

 
Earl Estates Limited
 
 
 
Notes to the financial statements
For the Year Ended 30 September 2024

15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



4,240 (2023 - 4,240) A Ordinary Shares shares of £0.01 each
42.40
42.40
4,240 (2023 - 4,240) B Ordinary Shares shares of £0.01 each
42.40
42.40
4,240 (2023 - 4,240) C Ordinary Shares shares of £0.01 each
42.40
42.40
4,240 (2023 - 4,240) D Ordinary Shares shares of £0.01 each
42.40
42.40

169.60

169.60

All ordinary shares rank pari pasu in all respect save that there is an ability to pay different dividends on different classes of shares. Ordinary A shares and ordinary B shares have voting rights but ordinary C shares and ordinary D shares do not carry any voting rights.



16.


Reserves

Capital redemption reserve

The capital redemption reserve is non-distributable reserve and is the nominal value of the purchase of own shares by the company.

Investment property revaluation reserve

The investment property revaluation reserve is a special non-distributable reserve and consists of unrealised investment property fair value adjustments and related deferred tax charges transferred from the profit and loss account.

Profit and loss account

The profit and loss account consists of cumulative undistributed reserves. Non- distributable reserves are transferred from the profit and loss account to relevant non-distributable reserves.


17.


Commitments under operating leases

The Group and the Company had no commitments under non-cancellable operating leases at the reporting date.


18.


Related party transactions

The company and the group have taken advantage of the exemption under FRS 102 section 1A not to disclose details of any transactions or balances between the group that have been eliminated on consolidation. During the year, interim dividends of £25,016 (2023: £50,000) were paid to the directors.


19.


Controlling party

The Company is controlled by the board of directors.

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Earl Estates Limited
 
 
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