Registered number
05415492
Estado Limited
Filleted Accounts
30 June 2024
Estado Limited
Registered number: 05415492
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 12,730 4,573
Cash at bank and in hand 1,964 24,651
14,694 29,224
Creditors: amounts falling due within one year 4 (16,527) (29,065)
Net current (liabilities)/assets (1,833) 159
Net (liabilities)/assets (1,833) 159
Capital and reserves
Called up share capital 100 100
Profit and loss account (1,933) 59
Shareholders' funds (1,833) 159
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.
G Blenkinsopp
Director
Approved by the board on 14 March 2025
Estado Limited
Notes to the Accounts
for the year ended 30 June 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 (as applied to small entities by section 1A of the standard). The company is currently insolvent. The directors are making steps to clear HMRC debts and obtain new sources of income.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 as follows:
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2024 2023
£ £
Trade debtors 10,927 -
Other debtors 1,803 4,573
12,730 4,573
4 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,400 -
Trade creditors 886 1,463
Taxation and social security costs 48,005 41,152
Directors loan account (41,764) (13,550)
16,527 29,065
5 Revaluation reserve 2024 2023
£ £
At 1 July 2023 - (35,214)
Gain on revaluation of land and buildings - 35,214
At 30 June 2024 - -
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
G Blenkinsopp
Directors loan account (6,080) (14,107) - (20,187)
L Blenkinsopp
Directors loan account (7,470) (14,107) - (21,577)
(13,550) (28,214) - (41,764)
7 Related party transactions
Wisemove Land & Property Consultants Ltd, who is owned and controlled by the same shareholders and directors, loaned the company £9,400 during the year. Nothing was repaid and the sum is interest free and repayable upon demand.
8 Controlling party
The company was controlled by the directors.
9 Other information
Estado Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lake View
9 Brancepth Manor Farm
Crook
Co Durham
DL15 9AS
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