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Registered number: 00429417
Exepex Estates Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
SPD Accounting Services Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00429417
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 678,511 684,402
Investment Properties 5 10,238,750 10,238,750
10,917,261 10,923,152
CURRENT ASSETS
Debtors 6 337,186 427,646
Cash at bank and in hand 423,781 324,786
760,967 752,432
Creditors: Amounts Falling Due Within One Year 7 (269,721 ) (220,085 )
NET CURRENT ASSETS (LIABILITIES) 491,246 532,347
TOTAL ASSETS LESS CURRENT LIABILITIES 11,408,507 11,455,499
Creditors: Amounts Falling Due After More Than One Year 8 (2,736,141 ) (2,772,142 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (764,612 ) (764,612 )
NET ASSETS 7,907,754 7,918,745
CAPITAL AND RESERVES
Called up share capital 10 7,300 7,300
Revaluation reserve 11 3,848,423 3,848,423
Profit and Loss Account 4,052,031 4,063,022
SHAREHOLDERS' FUNDS 7,907,754 7,918,745
Page 1
Page 2
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 Profit and Loss Account.
On behalf of the board
Mrs Melanie Gurney
Director
12/02/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Exepex Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00429417 . The registered office is Dormy House, 43 Kingsbury Street, Marlborough, Wiltshire, SN8 1JE.
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 comprises the fair value of the consideration received or receivable for the rental of properties in the ordinary course of the company's activities. The company recognises revenue as the period of rental occurs.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% per annum
Plant & Machinery 15% - 25% per annum
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
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Page 3
Page 4
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2023 867,730 371,180 1,238,910
Additions 3,269 9,099 12,368
As at 31 March 2024 870,999 380,279 1,251,278
Depreciation
As at 1 April 2023 203,388 351,120 554,508
Provided during the period 9,420 8,839 18,259
As at 31 March 2024 212,808 359,959 572,767
Net Book Value
As at 31 March 2024 658,191 20,320 678,511
As at 1 April 2023 664,342 20,060 684,402
5. Investment Property
2024
£
Fair Value
As at 1 April 2023 and 31 March 2024 10,238,750
6. Debtors
2024 2023
£ £
Due within one year
Amounts owed by group undertakings 208,755 304,168
Other debtors 128,431 123,478
337,186 427,646
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 50,234 50,234
Other creditors 210,727 150,993
Taxation and social security 8,760 18,858
269,721 220,085
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 2,736,141 2,772,142
Page 4
Page 5
9. Secured Creditors
Of the creditors the amounts below are secured by charges over certain of the company's properties. Of the loans £297,000 (2023: £333,000) is repayable by instalments. The loans all have fixed interest rates.
2024 2023
£ £
Bank loans and overdrafts 2,786,375 2,822,376
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 7,300 7,300
11. Reserves
Revaluation Reserve
£
As at 1 April 2023 3,848,423
As at 31 March 2024 3,848,423
12. Ultimate Parent Undertaking and Controlling Party
The company's immediate parent undertaking is Solent Investments Limited, a company incorporated in England and Wales. 
The group is small and so exempt from preparing group accounts.
The ultimate parent company is Solent Investment Holdings Limited, a company registered in England and Wales.
There is no ultimate controlling party.
Page 5