REGISTERED NUMBER: 08273649

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

IRWELL CHAMBERS ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Bailey

Mrs K Danks

M F Danks

REGISTERED OFFICE:

Harpal House

14 Holyhead Road

Handsworth

Birmingham

West Midlands

B21 0LT

REGISTERED NUMBER:

08273649

FIXED ASSETS

Tangible assets

4

11,582,746

11,757,083

CURRENT ASSETS

Debtors

5

7,181

7,147

Cash at bank

25,521

11,559

32,702

18,706

CREDITORS

Amounts falling due within one year

6

239,542

247,452

NET CURRENT LIABILITIES

(206,840

)

(228,746

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,375,906

11,528,337

CREDITORS

Amounts falling due after more than one year

7

7,380,000

7,384,000

NET ASSETS

3,995,906

4,144,337

CAPITAL AND RESERVES

Called up share capital

9

100

100

Revaluation of Property

10

5,997,477

5,997,477

Retained earnings

10

(2,001,671

)

(1,853,240

)

SHAREHOLDERS' FUNDS

3,995,906

4,144,337

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 4 July 2025 and were signed on its behalf by:

Mrs K Danks - Director

1.	STATUTORY INFORMATION

Irwell Chambers Estates Limited is a private company, limited by shares , registered in Not specified/Other. 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

Motor

property

property

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 November 2023

8,042,520

5,103,143

171,930

18,000

13,335,593

Reclassification/transfer

164,133

-

-

-

164,133

At 31 October 2024

8,206,653

5,103,143

171,930

18,000

13,499,726

DEPRECIATION

At 1 November 2023

1,500,634

-

74,276

3,600

1,578,510

Charge for year

164,133

-

7,324

2,880

174,337

Reclassification/transfer

164,133

-

-

-

164,133

At 31 October 2024

1,828,900

-

81,600

6,480

1,916,980

NET BOOK VALUE

At 31 October 2024

6,377,753

5,103,143

90,330

11,520

11,582,746

At 31 October 2023

6,541,886

5,103,143

97,654

14,400

11,757,083

Cost or valuation at 31 October 2024 is represented by:

Improvements

Fixtures

Freehold

to

and

Motor

property

property

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2013

2,179,386

-

-

-

2,179,386

Valuation in 2014

3,818,091

-

-

-

3,818,091

Valuation in 2019

353,827

1,318,340

3,933

-

1,676,100

Cost

1,855,349

3,784,803

167,997

18,000

5,826,149

8,206,653

5,103,143

171,930

18,000

13,499,726

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/24

31/10/23

£

£

Blue Square Construction Ltd

-

26

BSA Irwell Chambers Manag Co

1,760

1,713

Other debtors

5,421

5,408

7,181

7,147

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/10/24

31/10/23

£

£

Bank loans and overdrafts (see note 8)

30,217

33,217

Trade creditors

8,165

34,298

Tax

5,100

5,100

Other creditors

63,378

22,388

Rent Deposit

5,494

6,153

Blue Square Acquisitions Ltd

75,461

83,318

Directors' current accounts

962

338

Accrued expenses

50,765

62,640

239,542

247,452

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/10/24

31/10/23

£

£

Bank loans (see note 8)

7,380,000

7,380,000

Hire purchase contracts

-

4,000

7,380,000

7,384,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,380,000

7,380,000

8.

LOANS

An analysis of the maturity of loans is given below:

31/10/24

31/10/23

£

£

Amounts falling due within one year or on demand:

Bank loans

30,217

33,217

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

7,380,000

7,380,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/10/24

31/10/23

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Revaluation

Retained

of

earnings

Property

Totals

£

£

£

At 1 November 2023

(1,853,240

)

5,997,477

4,144,237

Deficit for the year

(148,431

)

(148,431

)

At 31 October 2024

(2,001,671

)

5,997,477

3,995,806

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs K Danks.