REGISTERED NUMBER: 00354146 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ELLIS & SONS AMALGAMATED

PROPERTIES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

15,255

18,196

Investments

5

1,438,805

1,441,510

Investment property

6

22,747,239

26,835,479

24,201,299

28,295,185

CURRENT ASSETS

Debtors

7

16,846,383

8,026,025

Cash at bank

514,234

787,888

17,360,617

8,813,913

CREDITORS

Amounts falling due within one year

8

(175,059

)

(70,137

)

NET CURRENT ASSETS

17,185,558

8,743,776

TOTAL ASSETS LESS CURRENT LIABILITIES

41,386,857

37,038,961

PROVISIONS FOR LIABILITIES

9

(2,035,929

)

(2,935,713

)

NET ASSETS

39,350,928

34,103,248

CAPITAL AND RESERVES

Called up share capital

10

117,769

117,769

Non distributable reserve

6,171,723

9,574,879

Retained earnings

33,061,436

24,410,600

SHAREHOLDERS' FUNDS

39,350,928

34,103,248

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Mrs L G Montgomery - Director

1.	STATUTORY INFORMATION

Ellis & Sons Amalgamated Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

00354146

Registered office:

Shalden Park Steading

Shalden

Alton

Hampshire

GU34 4DS

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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 as modified by the revaluation of certain assets.

The results are presented for the company as a single entity only.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover represents gross rental income, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amounts of its furniture and equipment to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

If the recoverable amount of an asset is estimated to be less than it's carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less provision for permanent impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The effect of this departure from the Companies Act 2006 has not been quantified because it is impracticable and, in the opinion of the directors, would be misleading.

Investment properties involving reversions may, in some cases, be sold and a replacement property purchased which is then subject to a continuing lease in favour of the vendor of the original property. In such cases, the substitute property is valued at the time of its purchase at its then reversion value.

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.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including trade creditors, other creditors, accruals and deferred income and amounts owed to group undertakings, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme that provides benefits to former directors.

Investments

Fixed asset investments are included at cost less provision for any permanent impairment.

Group accounts

The company is a parent company subject to the small companies regime. The company and its subsidiaries comprise a small group, the company has not taken the option provided by Section 398 of the Companies Act 2006 to prepare group accounts.

Going concern

Based on current trading and future expectations, the directors are confident the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

66,073

3,340

4,634

74,047

DEPRECIATION

At 1 January 2024

49,784

1,461

4,606

55,851

Charge for year

2,443

470

28

2,941

At 31 December 2024

52,227

1,931

4,634

58,792

NET BOOK VALUE

At 31 December 2024

13,846

1,409

-

15,255

At 31 December 2023

16,289

1,879

28

18,196

5.	FIXED ASSET INVESTMENTS

2024

2023

£

£

Shares in group undertakings

1,436,765

1,436,765

Participating interests

-

2,705

Other investments not loans

2,040

2,040

1,438,805

1,441,510

Additional information is as follows:

Shares in

Interest

group

in joint

Other

undertakings

venture

investments

Totals

£

£

£

£

COST

At 1 January 2024

1,436,765

372,705

1,109,908

2,919,378

Disposals

-

(372,705

)

-

(372,705

)

At 31 December 2024

1,436,765

-

1,109,908

2,546,673

PROVISIONS

At 1 January 2024

-

370,000

1,109,908

1,479,908

Eliminated on disposal

-

(370,000

)

-

(370,000

)

At 31 December 2024

-

-

1,109,908

1,109,908

NET BOOK VALUE

At 31 December 2024

1,436,765

-

-

1,436,765

At 31 December 2023

1,436,765

2,705

-

1,439,470

Investments (neither listed nor unlisted) were as follows:

2024

2023

£

£

BPS farm subsidies

2,040

2,040

In the opinion of the directors, the aggregate value of the assets of the company consisting of shares in, or amounts owing from the subsidiary undertakings, is not less than the amounts at which those assets are stated or included in the company's balance sheet.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

26,835,479

Disposals

(975,545

)

Revaluations

(3,112,695

)

At 31 December 2024

22,747,239

NET BOOK VALUE

At 31 December 2024

22,747,239

At 31 December 2023

26,835,479

The investment properties were valued on the tenanted open market value basis at 31 December 2024, by L G Montgomery, a director of the company, to the value of £22,747,239 (2023: £26,835,479).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2

(102

)

Amounts owed by group undertakings

16,773,900

7,872,199

Other debtors

32,495

88,400

VAT

399

1,279

Prepayments and accrued income

39,587

64,249

16,846,383

8,026,025

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,703

358

Corporation tax

101,885

-

Social security and other taxes

-

825

Accruals and deferred income

71,471

68,954

175,059

70,137

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

Accelerated capital allowances

3,814

3,452

Deferred tax

2,032,115

2,932,261

2,035,929

2,935,713

Deferred

tax

£

Balance at 1 January 2024

2,935,713

Credit to Profit and Loss Account during year

(899,784

)

Balance at 31 December 2024

2,035,929

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

150,825

A Ordinary

25p

37,706

37,706

138,965

B Ordinary

25p

34,741

34,741

151,284

C Ordinary

25p

37,821

37,821

30,002

D Ordinary

25p

7,501

7,501

117,769

117,769

11.	ULTIMATE PARENT COMPANY