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REGISTERED NUMBER: 05507868 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

ESPALIER DEVELOPMENTS (MILLENDREATH)
LIMITED

ESPALIER DEVELOPMENTS (MILLENDREATH)
LIMITED (REGISTERED NUMBER: 05507868)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ESPALIER DEVELOPMENTS (MILLENDREATH)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: V Gupta





REGISTERED OFFICE: One Gloucester Place
Brighton
BN1 4AA





REGISTERED NUMBER: 05507868 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
15 West Street
Brighton
East Sussex
BN1 2RL

ESPALIER DEVELOPMENTS (MILLENDREATH)
LIMITED (REGISTERED NUMBER: 05507868)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 3 2,202 2,202

CURRENT ASSETS
Debtors 4 - 6,300,174
Cash at bank 1,106 3,113
1,106 6,303,287
CREDITORS
Amounts falling due within one year 5 346,039 4,539,392
NET CURRENT (LIABILITIES)/ASSETS (344,933 ) 1,763,895
TOTAL ASSETS LESS CURRENT
LIABILITIES

(342,731

)

1,766,097

CAPITAL AND RESERVES
Called up share capital 15,652,152 15,652,152
Share premium 1,188,841 1,188,841
Retained earnings (17,183,724 ) (15,074,896 )
SHAREHOLDERS' FUNDS (342,731 ) 1,766,097

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 April 2025 and were signed by:





V Gupta - Director


ESPALIER DEVELOPMENTS (MILLENDREATH)
LIMITED (REGISTERED NUMBER: 05507868)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Turnover represents the following types of income;

- Retail income

All income is recognised on a receivable basis.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

3. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2023
and 31 July 2024 2,202
NET BOOK VALUE
At 31 July 2024 2,202
At 31 July 2023 2,202

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Millendreath Chalets Ltd
Registered office:
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves - 9,575
Loss for the year (9,575 ) -

Micro Flats Ltd
Registered office:
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves - 571
Loss for the year (571 ) -

ESPALIER DEVELOPMENTS (MILLENDREATH)
LIMITED (REGISTERED NUMBER: 05507868)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. FIXED ASSET INVESTMENTS - continued

The investments have been impaired to the shareholding value based on the current value of the companies.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 2,610
Orange Valley loan - 6,297,500
VAT - 64
- 6,300,174

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,610 384
Other creditors 340,734 4,535,488
Accrued expenses 3,695 3,520
346,039 4,539,392

6. ULTIMATE CONTROLLING PARTY

The controlling party is Espalier Ventures Limited.

The ultimate controlling party is A J Colin.

This was by virtue of the share-for-share exchange that occurred when the company was acquired by Espalier Ventures Limited.

7. INTERCOMPANY TRANSACTIONS - CREDITORS

During the year ended 31 July 2024, Espalier Developments (Millendreath) Limited had the following movements in intercompany creditor balances:

% Holding July 2024 July 2023 Movement

Espalier Ventures Limited 100 - 4,044,754 4,044,754
- 4,044,754 4,044,754

A J Colin is a shareholder in the companies listed above at the percentages shown.

During the year part of the loan was repaid, with the exception of £2,396,107 which was written off to the profit and loss account clearing the balance down to nil.