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Registration number: 11222460

Earlam & Partners (Property) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Earlam & Partners (Property) Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Earlam & Partners (Property) Ltd

Company Information

Director

Mr David Jonathan Earlam

Registered office

C/O Williamson Croft (Liverpool) Limited
1 Old Hall Street
First Floor
Liverpool
L3 9HF

Accountants

Williamson Croft (Liverpool) Ltd
Chartered Certified Accountants
1 Old Hall Street
1st Floor
Liverpool
L3 9HF

 

Earlam & Partners (Property) Ltd

(Registration number: 11222460)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

9,539

11,892

Investment property

5

320,739

320,739

 

330,278

332,631

Current assets

 

Stocks

6

-

127,449

Debtors

7

8,439

10,960

Cash at bank and in hand

 

11,474

4,350

 

19,913

142,759

Creditors: Amounts falling due within one year

8

(375,108)

(500,929)

Net current liabilities

 

(355,195)

(358,170)

Total assets less current liabilities

 

(24,917)

(25,539)

Creditors: Amounts falling due after more than one year

8

(6,250)

(8,727)

Net liabilities

 

(31,167)

(34,266)

Capital and reserves

 

Called up share capital

9

120

100

Retained earnings

(31,287)

(34,366)

Shareholders' deficit

 

(31,167)

(34,266)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Earlam & Partners (Property) Ltd

(Registration number: 11222460)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 3 February 2025
 

.........................................
Mr David Jonathan Earlam
Director

 

Earlam & Partners (Property) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/O Williamson Croft (Liverpool) Limited
1 Old Hall Street
First Floor
Liverpool
L3 9HF

These financial statements were authorised for issue by the director on 3 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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 operates and generates taxable income.

 

Earlam & Partners (Property) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Earlam & Partners (Property) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Earlam & Partners (Property) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Total
£

Cost or valuation

At 1 July 2023

25,716

25,716

Additions

2,454

2,454

At 30 June 2024

28,170

28,170

Depreciation

At 1 July 2023

13,824

13,824

Charge for the year

4,807

4,807

At 30 June 2024

18,631

18,631

Carrying amount

At 30 June 2024

9,539

9,539

At 30 June 2023

11,892

11,892

5

Investment properties

2024
£

At 1 July

320,739

At 30 June

320,739

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

-

127,449

7

Debtors

Current

2024
£

2023
£

Prepayments

8,419

10,927

Other debtors

20

33

 

8,439

10,960

 

Earlam & Partners (Property) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Creditors

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

372,898

398,529

Accruals and deferred income

 

2,210

2,400

Other creditors

 

-

100,000

 

375,108

500,929

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

6,250

8,727

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary

120

120

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,250

8,727