REGISTERED NUMBER: 10629376 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

ESSEX PROPERTY AND INVESTMENTS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P D W Foyle

Mrs B Wade

REGISTERED OFFICE:

Beckwith Barn

Warren Estate

Lordship Road

Chelmsford

Essex

CM1 3WT

REGISTERED NUMBER:

10629376 (England and Wales)

ACCOUNTANTS:

Lucentum Business Services Ltd

Beckwith Barn

Warren Estate

Lordship Road

Chelmsford

Essex

CM1 3WT

FIXED ASSETS

Investment property

5

7,769,963

7,714,688

CURRENT ASSETS

Debtors

6

211,808

148,854

Cash at bank

7

20,705

63,768

232,513

212,622

CREDITORS

Amounts falling due within one year

8

246,587

226,405

NET CURRENT LIABILITIES

(14,074

)

(13,783

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,755,889

7,700,905

CREDITORS

Amounts falling due after more than one year

9

(2,874,302

)

(2,962,482

)

PROVISIONS FOR LIABILITIES

12

(971,306

)

(971,306

)

NET ASSETS

3,910,281

3,767,117

CAPITAL AND RESERVES

Called up share capital

13

1,000

1,000

Fair value reserve

14

2,939,936

2,939,936

Retained earnings

969,345

826,181

SHAREHOLDERS' FUNDS

3,910,281

3,767,117

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 1 December 2025 and were signed on its behalf by:

P D W Foyle - Director

1.	STATUTORY INFORMATION

Essex Property and Investments 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 (£).

Amounts in these financial statements are rounded to the nearest Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Turnover

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

Turnover is measured when the amount of revenue can be measured reliably, when it is probably that future economic benefits will flow to the entity and when specific criteria have been met.

Turnover represents amounts receivable for the provision of the company's principal activity. Revenue is recognised over the period the rental relates to.

Investment property

Investment properties are properties held to earn rentals and/or capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investments properties are included in profit or loss in the period in which they arise.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method; Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2024

7,714,688

Additions

55,275

At 28 February 2025

7,769,963

NET BOOK VALUE

At 28 February 2025

7,769,963

At 29 February 2024

7,714,688

The fair value of the property at 28 February 2025 has been arrived at on the basis of a valuation carried out by Mr P Foyle, a director of the company who is not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar commercial properties situated within the same location, which the director considers to give a fair value of the investment property held.

The historical cost of the investment property was £3,858,721 (2024: £3,803,446). No depreciation was charged.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

38,615

38,615

Amounts owed by related parties

152,544

70,000

Other debtors

20,649

40,239

211,808

148,854

7.	CASH AT BANK

2025

2024

£

£

Bank account

20,705

63,768

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

88,905

82,936

Taxation and social security

79,439

59,785

Other creditors

78,243

83,684

246,587

226,405

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

2,874,302

2,962,482

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,449,923

2,566,595

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

88,905

82,936

Amounts falling due between one and two years:

Bank loans - 1-2 years

95,304

88,905

Amounts falling due between two and five years:

Bank loans - 2-5 years

329,075

306,982

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,449,923

2,566,595

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

2,963,207

3,045,418

The bank loan is secured by way of a fixed charge with a negative pledge over the company's land and buildings, including a third party guarantee from a related party.

12.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Other timing differences

971,306

971,306

Deferred

tax

£

Balance at 1 March 2024

971,306

Balance at 28 February 2025

971,306

The amount for provisions for liabilities above is for deferred tax liability of financial assets measured at fair value through profit or loss.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary

£1

1,000

1,000

14.

RESERVES

Fair

value

reserve

£

At 1 March 2024

and 28 February 2025

2,939,936

As fair value accounting requirements apply, the change in fair value has been recognised in profit or loss, it is not recognised in a revaluation reserve.

However, an entity may choose to transfer a portion of its retained profit and loss account equal to the cumulative fair value gains for presentation purposes to a separate reserve, as this element of the profit and loss is not realised, and not available for distribution.

15.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors at the balance sheet date is an amount of £20,649 (2024: £20,239) due from the directors of the company.

16.	RELATED PARTY DISCLOSURES