REGISTERED NUMBER: 12738030 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ECG PROPERTY INVESTMENTS LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Investments

4

125

125

Investment property

5

22,732,100

22,325,000

22,732,225

22,325,125

CURRENT ASSETS

Debtors

6

541,723

893,291

Cash at bank

698,128

603,134

1,239,851

1,496,425

CREDITORS

Amounts falling due within one year

7

(17,188,330

)

(17,498,820

)

NET CURRENT LIABILITIES

(15,948,479

)

(16,002,395

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,783,746

6,322,730

CREDITORS

Amounts falling due after more than one year

8

(8,142,750

)

(8,142,750

)

PROVISIONS FOR LIABILITIES

10

(541,146

)

(417,518

)

NET LIABILITIES

(1,900,150

)

(2,237,538

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Revaluation reserve

12

(1,939,769

)

(2,346,669

)

Retained earnings

39,519

109,031

SHAREHOLDERS' FUNDS

(1,900,150

)

(2,237,538

)

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:

L G Montgomery - Director

1.	STATUTORY INFORMATION

ECG Property Investments 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:

12738030

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.

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 the period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in associates

Investments in associate undertakings are recognised at cost.

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.

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 trade debtors, other debtors, amounts due from group undertakings 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, 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.

Going concern

At they year end, the company was in a net liability position. Due to continuing support by the other group companies for a period of at least 12 months, the directors consider it appropriate to prepare the financial statements on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

125

NET BOOK VALUE

At 31 December 2024

125

At 31 December 2023

125

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

22,325,000

Revaluations

407,100

At 31 December 2024

22,732,100

NET BOOK VALUE

At 31 December 2024

22,732,100

At 31 December 2023

22,325,000

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 £22,732,000. (2023: £22,325,000)

The cost to the company of the investment properties at 31 December 2024 was £24,671,669 (2023: £24,671,669)

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

23,275

70,043

Other debtors

518,448

823,248

541,723

893,291

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

10,133

Amounts owed to group undertakings

16,796,539

17,084,815

Taxation and social security

26,788

26,538

Other creditors

365,003

377,334

17,188,330

17,498,820

Amounts owed to group undertakings relate to a loan from the parent company Bassett Trust Limited. The loan is interest free and there is no fixed repayment date. Bassett Trust Limited has confirmed that it will continue to support the company for a period of at least 12 months and will not seek repayment of the loan until the company is in a position to repay its debt.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

8,142,750

8,142,750

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

8,142,750

8,142,750

The external bank loan is secured on the investment properties held by the company.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

541,146

417,518

Deferred

tax

£

Balance at 1 January 2024

417,518

Provided during year

123,628

Balance at 31 December 2024

541,146

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

1

100

100

12.

RESERVES

Revaluation

reserve

£

At 1 January 2024

(2,346,669

)

Transfer on asset revaluation

406,900

At 31 December 2024

(1,939,769

)

13.	ULTIMATE PARENT COMPANY