| Essential Property Development Limited |
| Registered number: |
10062419 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
2,935,801 |
|
|
2,953,801 |
|
| Current assets |
| Cash at bank and in hand |
|
|
2,244 |
|
|
5,517 |
|
| Creditors: amounts falling due within one year |
3 |
|
(6,860) |
|
|
(5,153) |
|
| Net current (liabilities)/assets |
|
|
|
(4,616) |
|
|
364 |
|
| Total assets less current liabilities |
|
|
|
2,931,185 |
|
|
2,954,165 |
|
| Creditors: amounts falling due after more than one year |
4 |
|
|
(2,979,476) |
|
|
(3,024,427) |
|
|
|
| Net liabilities |
|
|
|
(48,291) |
|
|
(70,262) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,000 |
|
|
1,000 |
| Profit and loss account |
|
|
|
(49,291) |
|
|
(71,262) |
|
| Shareholders' funds |
|
|
|
(48,291) |
|
|
(70,262) |
| Average number of employees |
|
|
|
- |
|
|
- |
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Xue Ming Zhang |
| Director |
| Approved by the board on 24 July 2025 |
|
| Essential Property Development Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
over 50 years |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 April 2024 |
3,022,801 |
|
At 31 March 2025 |
3,022,801 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
69,000 |
|
Charge for the year |
18,000 |
|
At 31 March 2025 |
87,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
2,935,801 |
|
At 31 March 2024 |
2,953,801 |
|
|
| 3 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Corporation tax |
3,701 |
|
1,773 |
|
Other creditors |
3,159 |
|
3,380 |
|
|
|
|
|
|
6,860 |
|
5,153 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
1,419,766 |
|
1,419,766 |
|
Obligations under finance lease and hire purchase contracts |
355 |
|
3,618 |
|
Director's Loan Account |
|
|
|
|
1,559,355 |
|
1,601,043 |
|
|
|
|
|
|
2,979,476 |
|
3,024,427 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
1,419,766 |
|
1,419,766 |
|
|
|
|
|
|
|
|
|
|
One saving Bank Plc hold the charge of Property of no 02 Westminster Drive London N13 4NU. |
|
Lendinvest BTL Limited hold the charges of Property of no 63 A, 63B AND 63C Montreal Road, Tilbury, RM18 8XU.Paragon Bank PLC hold the charges of Property of no 78 Dereham Road, Barking, IG11 9EY |
|
| 6 |
Other information |
|
|
Essential Property Development Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
48 Wards Road |
|
Ilford |
|
Redbridge |
|
Essex |
|
IG2 7BA |