REGISTERED NUMBER: 12271978 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

ESPALIER PROPERTY VENTURES (CLAPHAM) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

V Gupta

P X Bird

REGISTERED OFFICE:

1 Gloucester Place

Brighton

East Sussex

BN1 4AA

REGISTERED NUMBER:

12271978 (England and Wales)

ACCOUNTANTS:

Galloways Accounting (Hove) Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Investments

4

2

2

Investment property

5

10,617,475

9,970,545

10,617,477

9,970,547

CURRENT ASSETS

Debtors

6

213,173

195,971

Cash at bank

68,236

43,162

281,409

239,133

CREDITORS

Amounts falling due within one year

7

(6,591,275

)

(6,679,326

)

NET CURRENT LIABILITIES

(6,309,866

)

(6,440,193

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,307,611

3,530,354

CREDITORS

Amounts falling due after more than one year

8

(5,462,782

)

(4,310,371

)

NET LIABILITIES

(1,155,171

)

(780,017

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,155,271

)

(780,117

)

(1,155,171

)

(780,017

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 3 October 2025 and were signed on its behalf by:

V Gupta - Director

1.	STATUTORY INFORMATION

Espalier Property Ventures (Clapham) Ltd 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.

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.

Turnover

Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Turnover represents the following types of income;

- Management charges

- Rents received

All income is recognised on a receivable basis.

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.

Investments

Investments held as fixed assets are recognised initially at transaction price and subsequently measured at fair value at each reporting date with changes in fair value recognised in the income and expenditure account.

Going concern

The directors acknowledge the net current liabilities position and have confirmed they will continue to support the company so it is able to fulfil its obligations as they fall due. Therefore, the directors believe that the company has adequate resources to continue in operational existence for a period of at least 12 months from the date of the approval of these financial statements. The directors have concluded that the going concern basis of preparation of these financial statements remains appropriate.

3.

EMPLOYEES

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

4.	INVESTMENT IN SUBSIDIARY

Other

investments

£

COST OR VALUATION

At 1 November 2023

and 31 October 2024

2

NET BOOK VALUE

At 31 October 2024

2

At 31 October 2023

2

Cost or valuation at 31 October 2024 is represented by:

Other

investments

£

Cost

2

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2023

9,970,545

Additions

646,930

At 31 October 2024

10,617,475

NET BOOK VALUE

At 31 October 2024

10,617,475

At 31 October 2023

9,970,545

The fair value of the company's investment property at 31 October 2024 has been arrived at on the basis of a valuation carried out at that date by the directors. The valuation was arrived at by reference to market evidence of transaction prices for similar properties.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Amounts owed by group undertakings

206,525

187,975

VAT

1,234

-

Prepayments

5,414

7,996

213,173

195,971

Amounts owed by group undertakings are interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

140,120

71,970

VAT

-

53

Other creditors

6,408,431

6,567,697

Deferred income

39,884

37,926

Accrued expenses

2,840

1,680

6,591,275

6,679,326

Other creditors of £6,408,431 are amounts due to the sole shareholder. These amounts are interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Loans - 2-5 years

-

4,310,371

Amounts owed to group undertakings

5,462,782

-

5,462,782

4,310,371

During the year, the mortgage held in the accounts was transferred to Espalier Ventures 2022 Ltd. The transfer was approved by the shareholder and director, there is an agreement with Espalier Ventures 2022 Ltd for the new loan in place. Interest is payable on the loan.

At the balance sheet date, the total balance of loans due was £11,871,213 (2023: £10,878,068). £6,408,431 (2023: £6,567,697) of this relates to amounts due to the shareholder and is included in amounts falling due within one year. More detail can be found in note 7. The remaining £5,462,782 (2023: £4,310,371) are amounts due to Espalier Ventures 2022 Ltd, included in amounts falling due in more than one year.

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions of Financial Reporting Standard 102 section 33.1A from disclosing transactions with fellow wholly owned group companies.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is A J Colin.

This was by virtue of his 100% holding of the issued share capital.