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EXTROSPECT PROPERTIES LTD

Registered Number
08741641
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

EXTROSPECT PROPERTIES LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

SAPALA, Alex Batson Goodwell

Registered Address

40 Egbert Gardens
Wickford
SS11 7BW

Registered Number

08741641 (England and Wales)
EXTROSPECT PROPERTIES LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property33,738,9843,230,710
3,738,9843,230,710
Current assets
Debtors8,81727,646
Cash at bank and on hand2,5009,310
11,31736,956
Creditors amounts falling due within one year4(500)(32,037)
Net current assets (liabilities)10,8174,919
Total assets less current liabilities3,749,8013,235,629
Creditors amounts falling due after one year5(2,403,729)(2,360,318)
Provisions for liabilities6(188,064)(91,492)
Net assets1,158,008783,819
Capital and reserves
Called up share capital243,099243,099
Revaluation reserve801,747390,045
Profit and loss account113,162150,675
Shareholders' funds71,158,008783,819
The financial statements were approved and authorised for issue by the Director on 23 March 2025, and are signed on its behalf by:
SAPALA, Alex Batson Goodwell
Director
Registered Company No. 08741641
EXTROSPECT PROPERTIES LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Deferred tax
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.
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

20242023
Average number of employees during the year12
3.Investment property

£
Fair value at 01 April 233,230,710
Fair value adjustments508,274
At 31 March 243,738,984
4.Creditors: amounts due within one year

2024

2023

££
Taxation and social security-1,639
Other creditors-25,070
Accrued liabilities and deferred income5005,328
Total50032,037
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,403,7292,360,318
Total2,403,7292,360,318
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)188,06491,492
Total188,06491,492
7.Revaluation reserve

£
Reserve at 01 April 23390,045
Revaluations of plant, property and equipment508,274
Deferred Tax on Revaluations(96,572)
At 31 March 24801,747