ACCOUNTS - Final Accounts

Company registration number: 07343325

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	ELLSWORTH PROPERTY INVESTMENT LIMITED


ELLSWORTH PROPERTY INVESTMENT LIMITED

COMPANY INFORMATION

Directors	Ms N J Kay
	Mr T J B Davis
	Mr J C F Davis
	Mr A M Kay


Registered number	07343325


Registered office
	Midas House
	62 Goldsworth Road
	Woking
	Surrey
	GU21 6LQ


Accountants	Menzies LLP
	Chartered Accountants
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	TW18 4BP


ELLSWORTH PROPERTY INVESTMENT LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 7


ELLSWORTH PROPERTY INVESTMENT LIMITED REGISTERED NUMBER:07343325

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		32,963		49,683
Investment property	5		4,564,762		6,315,251
			4,597,725		6,364,934
Current assets
Debtors: amounts falling due within one year	6	3,415		24,887
Current asset investments		709,507		514,875
Cash at bank and in hand		274,834		188,083
		987,756		727,845
Creditors: amounts falling due within one year	7	(398,937)		(363,330)
Net current assets			588,819		364,515
Total assets less current liabilities			5,186,544		6,729,449
Creditors: amounts falling due after more than one year	8		(3,446,478)		(3,446,456)
Provisions for liabilities
Deferred tax		-		(355,894)
			-		(355,894)
Net assets			1,740,066		2,927,099

Capital and reserves
Called up share capital	1	1
Profit and loss account	1,740,065	2,927,098
	1,740,066	2,927,099

Page 1


ELLSWORTH PROPERTY INVESTMENT LIMITED REGISTERED NUMBER:07343325

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr T J B Davis

Director

Date: 10 September 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2


ELLSWORTH PROPERTY INVESTMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Ellsworth Property Investments Limited is a private company limited by shares, incorporated in England and Wales. The address of its registered office is disclosed on the company information page, the company has no principal place of business. The company's principal activity is that of a property rental business.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is generated through the provision of rental services and is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.3

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Page 3


ELLSWORTH PROPERTY INVESTMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.5

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	-	25%	straight line
				Office equipment	-	33%	straight line

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 profit or loss.

2.6

Investment property

Investment property is carried at fair value determined annually by the directors based on their knowledge of 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. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4


ELLSWORTH PROPERTY INVESTMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).

4.	Tangible fixed assets

	Motor vehicles	Office equipment	Total
	£	£	£
Cost or valuation
At 1 January 2024	64,244	30,582	94,826
At 31 December 2024	64,244	30,582	94,826
Depreciation
At 1 January 2024	16,061	29,082	45,143
Charge for the year on owned assets	16,061	659	16,720
At 31 December 2024	32,122	29,741	61,863
Net book value
At 31 December 2024	32,122	841	32,963
At 31 December 2023	48,183	1,500	49,683

Page 5


ELLSWORTH PROPERTY INVESTMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.	Investment property

		Investment property
		£
	Valuation
	At 1 January 2024	6,315,251
	Deficit on revaluation	(1,750,489)
	At 31 December 2024	4,564,762

The 2024 valuations were made by the Directors, on an open market value for existing use basis.

Debtors

					2024	2023
					£	£


Trade debtors	962	10,223
Other debtors	-	289
Prepayments and accrued income	2,453	14,375
	3,415	24,887

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	17,290	4,308
Corporation tax	71,531	67,348
Other taxation and social security	19,622	265
Other creditors	210,800	212,715
Accruals and deferred income	79,694	78,694
	398,937	363,330

Page 6


ELLSWORTH PROPERTY INVESTMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

8.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Other creditors	3,446,478	3,446,456
	3,446,478	3,446,456

Related party transactions

At the year end, included within creditors falling due under one year were amounts due to Ms N J Kay, a director and shareholder of the company, amounting to £200,000 (2023 - £200,000).
At the year end, included within creditors falling due after more than one year were amounts due to Ms N J Kay, a director and shareholder of the company, amounting to £3,446,478 (2023 - £3,446,456).
These amounts are considered to be interest free and repayable on demand.

Page 7