Registered number
03451434
Earlby Property Investment and Consultancy Limited
Filleted Accounts
31 October 2024
Earlby Property Investment and Consultancy Limited
Registered number: 03451434
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Investments 4 1,381,500 1,590,000
Current assets
Debtors 5 1,419 1,312
Cash at bank and in hand 137,792 6,284
139,211 7,596
Creditors: amounts falling due within one year 6 (26,129) (61,284)
Net current assets/(liabilities) 113,082 (53,688)
Total assets less current liabilities 1,494,582 1,536,312
Creditors: amounts falling due after more than one year 7 (177,262) (258,040)
Provisions for liabilities (48,000) (38,000)
Net assets 1,269,320 1,240,272
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,269,220 1,240,172
Shareholders' funds 1,269,320 1,240,272
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C L Searle
Director
Approved by the board on 17 February 2025
Earlby Property Investment and Consultancy Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% on a straight line basis
Fixtures, fittings, tools and equipment 15% on a straight line basis
Investment properties
Investment properties are revalued annually by the directors. The revaluation surplus / deficit is credited / charged directly to the profit and loss account in accordance with the provisions of FRS102.
Deferred tax is provided on the cumulative revaluation surplus.
The cumulative revaluation gain, net of the deferred tax thereon, is credited to the profit and loss reserve in the balance sheet. The cumulative revaluation gain is a non-distributable reserve.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 4,246
Disposals (4,246)
At 31 October 2024 -
Depreciation
At 1 November 2023 4,246
On disposals (4,246)
At 31 October 2024 -
Net book value
At 31 October 2024 -
4 Investments
Investment
properties
£
Valuation
At 1 November 2023 1,590,000
Additions 6,500
Disposals (245,000)
Revaluation 30,000
At 31 October 2024 1,381,500
Historical cost
At 1 November 2023 1,139,664
At 31 October 2024 940,646
5 Debtors 2024 2023
£ £
Other debtors 1,419 1,312
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,769 5,769
Other taxes and social security costs 1,900 3,100
Other creditors 18,460 52,415
26,129 61,284
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 177,262 258,040
8 Loans 2024 2023
£ £
Creditors include:
Secured loans 170,620 245,415
The loans are secured by a charge against investment properties.
9 Other information
Earlby Property Investment and Consultancy Limited is a private company limited by shares and incorporated in England. Its registered office is:
75 Old Station Road
Bromsgrove
Worcestershire
B60 2AE
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