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ASSOCIATE ESTATES (UK) LIMITED

Registered Number
10291123
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

ASSOCIATE ESTATES (UK) LIMITED
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

RUSSELL, Ann Katharine
RUSSELL, Christopher John

Company Secretary

RUSSELL, Christopher John

Registered Address

Crantock Highways Road
Compton
Winchester
SO21 2DF

Registered Number

10291123 (England and Wales)
ASSOCIATE ESTATES (UK) LIMITED
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,407,1561,407,480
1,407,1561,407,480
Current assets
Debtors4,7914,718
Cash at bank and on hand2601,373
5,0516,091
Creditors amounts falling due within one year5(831,272)(871,418)
Net current assets (liabilities)(826,221)(865,327)
Total assets less current liabilities580,935542,153
Creditors amounts falling due after one year6(8,263)(12,917)
Provisions for liabilities7(61,909)(61,909)
Net assets510,763467,327
Capital and reserves
Called up share capital100100
Profit and loss account510,663467,227
Shareholders' funds510,763467,327
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2025, and are signed on its behalf by:
RUSSELL, Ann Katharine
Director
RUSSELL, Christopher John
Director

Registered Company No. 10291123
ASSOCIATE ESTATES (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 July 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard. Prior year's financial statements have been prepared in compliance with FRS 105 and the changes in accounting policy have been applied retrospectively.
Turnover policy
Turnover represents rental income and service charges receivable.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant & Machinery - Depreciated Straight Line over 4 years.

Straight line (years)
Plant and machinery4
Investments
The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director of the company. The valuation was made on an open market basis by reference to the market value for similar properties
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 August 231,406,5101,2941,407,804
At 31 July 241,406,5101,2941,407,804
Depreciation and impairment
At 01 August 23-324324
Charge for year-324324
At 31 July 24-648648
Net book value
At 31 July 241,406,5106461,407,156
At 31 July 231,406,5109701,407,480
Office Equipment - Depreciated 25% Straight Line
4.Revaluation of property, plant and equipment
Property, plant and equipment includes three investment properties purchased in 2016 and 2017 for a combined value of £1,125,108. The properties have been revalued to their fair values as required by FRS102.
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts810,533861,282
Taxation and social security20,0899,386
Accrued liabilities and deferred income650750
Total831,272871,418
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 net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts8,26312,917
Total8,26312,917
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)61,90961,909
Total61,90961,909