REGISTERED NUMBER: 03211811 (England and Wales)

E.S.L. (BASILDON) HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

B D Townsend

Mrs J C Townsend

SECRETARY:

Mrs C L Welsford

REGISTERED OFFICE:

255 Green Lanes

Palmers Green

London

N13 4XE

REGISTERED NUMBER:

03211811 (England and Wales)

ACCOUNTANTS:

John Crook & Partners

Chartered Accountants

255 Green Lanes

Palmers Green

London

N13 4XE

FIXED ASSETS

Tangible assets

4

270,714

173,009

Investment property

5

8,433,104

8,433,104

8,703,818

8,606,113

CURRENT ASSETS

Debtors

6

1,767,132

2,733,709

Cash at bank and in hand

1,257,261

631,144

3,024,393

3,364,853

CREDITORS

Amounts falling due within one year

7

2,308,262

905,080

NET CURRENT ASSETS

716,131

2,459,773

TOTAL ASSETS LESS CURRENT LIABILITIES

9,419,949

11,065,886

CREDITORS

Amounts falling due after more than one year

8

-

(1,703,579

)

PROVISIONS FOR LIABILITIES

(811,275

)

(796,452

)

NET ASSETS

8,608,674

8,565,855

CAPITAL AND RESERVES

Called up share capital

10

4,467

4,467

Fair value reserve

11

2,782,474

2,782,474

Retained earnings

11

5,821,733

5,778,914

SHAREHOLDERS' FUNDS

8,608,674

8,565,855

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

B D Townsend - Director

Mrs J C Townsend - Director

1.	STATUTORY INFORMATION

E.S.L. (Basildon) Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

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

-

25% on reducing balance, over the unexpired lease term and Straight line over 13 years

Motor vehicles

-

25% on reducing balance

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 January 2024

315,156

71,500

386,656

Additions

12,496

141,355

153,851

At 31 December 2024

327,652

212,855

540,507

DEPRECIATION

At 1 January 2024

175,617

38,030

213,647

Charge for year

21,226

34,920

56,146

At 31 December 2024

196,843

72,950

269,793

NET BOOK VALUE

At 31 December 2024

130,809

139,905

270,714

At 31 December 2023

139,539

33,470

173,009

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

8,433,104

NET BOOK VALUE

At 31 December 2024

8,433,104

At 31 December 2023

8,433,104

Fair value at 31 December 2024 is represented by:

£

Valuation in 2003

497,576

Valuation in 2014

473,213

Valuation in 2016

(39,790

)

Valuation in 2017

1,371,400

Valuation in 2019

(375,000

)

Valuation in 2023

1,499,974

Cost

5,005,731

8,433,104

If the investment property had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

5,005,731

5,005,731

The investment property was valued on an open market basis on 31 December 2023 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,800

-

Amounts owed by group undertakings

178,226

118,226

Amounts owed by associates

1,500,000

2,250,000

Other debtors

87,106

365,483

1,767,132

2,733,709

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

117,617

Trade creditors

4,210

4,475

Amounts owed to group undertakings

408,204

395,448

Taxation and social security

21,311

24,010

Other creditors

1,874,537

363,530

2,308,262

905,080

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

-

1,703,579

Amounts falling due in more than five years:

Repayable by instalments

Bank loan repayable in more than five years

-

1,182,161

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

-

1,821,196

The bank loan is secured by a charge on the investment properties and by a fixed and floating charge over the company's assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

4,467

Ordinary

£1

4,467

4,467

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

5,778,914

2,782,474

8,561,388

Profit for the year

42,819

42,819

At 31 December 2024

5,821,733

2,782,474

8,604,207

12.	OTHER FINANCIAL COMMITMENTS

The company has entered into a cross guarantee with its associated companies to secure its bank overdraft and borrowings.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

B D Townsend and Mrs J C Townsend

Balance outstanding at start of year

278,387

469,963

Amounts advanced

-

278,387

Amounts repaid

(278,387

)

(469,963

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

278,387

The loan is interest free and repayable on demand.

14.	RELATED PARTY DISCLOSURES

ESL Group Holdings Limited

At the year end, the company was owed £178,226 (2023: £118,226) to ESL Engineers (Basildon) Limited.

ESL Engineers (Basildon) Limited

A company controlled by BD Townsend and Mrs JC Townsend.

The company has received rent totalling £281,227 (2023 - £231,668).

At the year end, the company owed £380,444 (2023: £367,688) to ESL Engineers (Basildon) Limited.

ESL Partnership Limited

A company controlled by BD Townsend and Mrs JC Townsend.

At the year end £1,500,000 (2023: £2,250,000) remained outstanding.

BD Townsend and JC Townsend

The directors have loaned the directors funds. Interest is paid at 10% on these funds. The amount outstanding at the year end was £1,696,837. Interest accrued on this was £113,902 which was outstanding at the year end.

15.	ULTIMATE CONTROLLING PARTY

The controlling party is ESL Group Holdings Limited.

The ultimate controlling parties are BD Townsend and Mrs JC Townsend