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REGISTERED NUMBER: 03514128 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

ESTATES U.K. LIMITED

ESTATES U.K. LIMITED (REGISTERED NUMBER: 03514128)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ESTATES U.K. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A Miller
J A Miller
H J Miller
Mrs S V Wilson





REGISTERED OFFICE: Unit 9
Waterside Business Park
Livingstone Road, Hessle
Hull
East Yorkshire
HU13 0EG





REGISTERED NUMBER: 03514128 (England and Wales)

ESTATES U.K. LIMITED (REGISTERED NUMBER: 03514128)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,788 6,037
Investment property 6 41,148,716 40,208,000
41,153,504 40,214,037

CURRENT ASSETS
Stocks 3,893 7,786
Debtors 7 5,853,543 5,918,631
Investments 8 56,000 56,000
Prepayments and accrued income 46,224 42,410
Cash at bank and in hand 928,840 1,553,112
6,888,500 7,577,939
CREDITORS
Amounts falling due within one year 9 629,029 594,873
NET CURRENT ASSETS 6,259,471 6,983,066
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,412,975

47,197,103

CREDITORS
Amounts falling due after more than one
year

10

(9,629,800

)

(10,329,800

)

PROVISIONS FOR LIABILITIES (4,872,442 ) (4,627,095 )
NET ASSETS 32,910,733 32,240,208

CAPITAL AND RESERVES
Called up share capital 200 200
Fair value reserve 12 26,772,914 26,117,459
Retained earnings 12 6,137,619 6,122,549
SHAREHOLDERS' FUNDS 32,910,733 32,240,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ESTATES U.K. LIMITED (REGISTERED NUMBER: 03514128)

BALANCE SHEET - continued
30 JUNE 2024


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 Board of Directors and authorised for issue on 2 April 2025 and were signed on its behalf by:





A Miller - Director


ESTATES U.K. LIMITED (REGISTERED NUMBER: 03514128)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Estates U.K. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

SIGNIFICANT JUDGEMENTS AND ESTIMATES
No significant judgements have had to be made by the director in preparing these financial statements.
The director has made key assumptions in the determination of fair value of investment properties in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the assets.

REVENUE
Revenue comprises the value of rental income receivable from the letting of investment property owned by the company and administration fees charged to tenants in respect of setting up new tenancy agreements. Revenue also includes commissions chargeable for the collection of rental income on behalf of other landlords.

Rental income is recognised on a time basis and is measured over the duration of each respective tenancy agreement, but is only recognised to the extent that it is probable that the economic benefits will flow to the Company, the amount of revenue can be reliably measured and it is probable that the company will receive the consideration due under the tenancy agreements.

Administration fees are recognised as they are charged. Commissions are deducted directly from payments made to landlords.

Revenue is measured as the fair value of the consideration received or receivable.

ESTATES U.K. LIMITED (REGISTERED NUMBER: 03514128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

TANGIBLE FIXED ASSETS
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method.
Depreciation is provided on the following basis:
Motor vehicles - 20%
Plant and machinery - 25%
Fixtures and fittings - 25%
Computer equipment - 25%

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

INVESTMENT PROPERTY
Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The company engage an independent valuer to assist the director in determining fair value, with a number of valuations of investment property being carried out each year.

Investment properties whose fair value can be measured reliably are recorded ar fair value with any surplus or deficit on revaluation being recognised in the income statement accumulated in a non-distributable reserve.

No depreciation is charged on investment property.

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

ESTATES U.K. LIMITED (REGISTERED NUMBER: 03514128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

OPERATING LEASES
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSIONS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 20 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023 2,559 16,619 28,112 47,290
Additions - - 1,648 1,648
At 30 June 2024 2,559 16,619 29,760 48,938
DEPRECIATION
At 1 July 2023 2,377 14,466 24,410 41,253
Charge for year 128 605 2,164 2,897
At 30 June 2024 2,505 15,071 26,574 44,150
NET BOOK VALUE
At 30 June 2024 54 1,548 3,186 4,788
At 30 June 2023 182 2,153 3,702 6,037

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 40,208,000
Additions 89,328
Disposals (130,000 )
Revaluations 981,388
At 30 June 2024 41,148,716
NET BOOK VALUE
At 30 June 2024 41,148,716
At 30 June 2023 40,208,000

Valuations were carried out by professional valuers, Allsops during the year.
The valuation of investment property has also been reviewed and assessed by the director, Mr A Miller as at 30 June 2024.

ESTATES U.K. LIMITED (REGISTERED NUMBER: 03514128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 33,439 45,738
Other debtors 5,820,104 5,872,893
5,853,543 5,918,631

Included in other debtors is an amount of £3,109,291 (2023 - £2,810,353) due from Estates GB Ltd, and an amount of £1,664,461 (2023 - £1,757.436) due from Estates GB 2 Ltd, companies in which Mr A Miller is also a director.

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other - unlisted investments 56,000 56,000

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 111,859 104,987
Taxation and social security 174,885 169,639
Other creditors 342,285 320,247
629,029 594,873

Included in other creditors, is an amount due to the director, Mr A Miller amounting to £10,083 (2023 - £2,221).

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 9,629,800 10,329,800

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 9,629,800 10,329,800

The bank loan is secured by first charges taken by the bank over specific investment properties together with a debenture over the remaining company assets.

ESTATES U.K. LIMITED (REGISTERED NUMBER: 03514128)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 July 2023 6,122,549 26,117,459 32,240,008
Profit for the year 1,120,525 - 1,120,525
Dividends (450,000 ) - (450,000 )
Fair value movement (736,041 ) 736,041 -
Realised on disposal of asset 80,586 (80,586 ) -
At 30 June 2024 6,137,619 26,772,914 32,910,533

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, dividends amounting to £450,000 were paid to the director, Mr A Miller (2023 - £275,000).

14. ULTIMATE CONTROLLING PARTY

The controlling party is A Miller.