Company No: 09920488 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	61,234		0
		61,234		0
Current assets
Stocks		4,684,427		2,501,928
Debtors	4	62,757		9,275
Cash at bank and in hand		28,078		369
		4,775,262		2,511,572
Creditors: amounts falling due within one year	5	( 2,445,630)		( 1,114,924)
Net current assets		2,329,632		1,396,648
Total assets less current liabilities		2,390,866		1,396,648
Creditors: amounts falling due after more than one year	6	( 1,263,574)		0
Net assets		1,127,292		1,396,648
Capital and reserves
Called-up share capital	7	1,000		1,000
Profit and loss account		1,126,292		1,395,648
Total shareholders' funds		1,127,292		1,396,648

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Earlsgate Properties Limited (registered number: 09920488) were approved and authorised for issue by the Board of Directors on 06 June 2025. They were signed on its behalf by:

Mr N D Parker Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Earlsgate Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Estate Office, Wield Park, Upper Wield, Alresford, SO24 9FX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The company has taken advantage of the exemption under section 399 of Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not its about its group.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
It is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Vehicles

5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:
• Short term trade and other debtors and creditors;
• loans from fellow companies; and
• Cash and bank balances.
All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be
paid or received, after taking account of impairment adjustments, unless the arrangement constitutes a financing transaction.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Tangible assets

	Vehicles		Total
	£		£
Cost
At 01 April 2024	0		0
Additions	66,801		66,801
At 31 March 2025	66,801		66,801
Accumulated depreciation
At 01 April 2024	0		0
Charge for the financial year	5,567		5,567
At 31 March 2025	5,567		5,567
Net book value
At 31 March 2025	61,234		61,234
At 31 March 2024	0		0

4. Debtors

	2025		2024
	£		£
Other debtors	62,757		9,275

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	989,417		25,522
Amounts owed to Group undertakings	1,441,289		1,089,402
Deferred tax liability	1,614		0
Obligations under finance leases and hire purchase contracts	13,310		0
	2,445,630		1,114,924

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans	1,201,171		0
Obligations under finance leases and hire purchase contracts	62,403		0
	1,263,574		0

The bank loan of £1,201,171 above is secured by way of legal mortgage all legal interest in Janda, Lower wield, Alresford, SO24 9RX and land adjoining Janda, Lower wield, Alresford.

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000