REGISTERED NUMBER: 08857915 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

ESSEX PRESTIGE HOMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Barnes

REGISTERED OFFICE:

61 Station Road

Sudbury

Suffolk

CO10 2SP

REGISTERED NUMBER:

08857915 (England and Wales)

ACCOUNTANTS:

Seago and Stopps

Chartered Certified Accountants

61 Station Road

Sudbury

Suffolk

CO10 2SP

FIXED ASSETS

124,153

Tangible assets

4

133,240

275,000

Investment property

5

275,000

399,153

408,240

CURRENT ASSETS

61,711

Stocks

1,274,021

1,972

Debtors

6

15,880

24,983

Cash at bank

-

88,666

1,289,901

CREDITORS

409,035

Amounts falling due within one year

7

907,870

(320,369

)

NET CURRENT ASSETS/(LIABILITIES)

382,031

78,784

TOTAL ASSETS LESS CURRENT LIABILITIES

790,271

CREDITORS

(50,156

)

Amounts falling due after more than one year

8

(914,047

)

(23,589

)

PROVISIONS FOR LIABILITIES

-

5,039

NET (LIABILITIES)/ASSETS

(123,776

)

CAPITAL AND RESERVES

100

Called up share capital

100

4,939

Retained earnings

(123,876

)

5,039

(123,776

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 30 October 2025 and were signed by:

S Barnes - Director

1.	STATUTORY INFORMATION

Essex Prestige Homes 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.

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 is measured at the value of work undertaken during the year, which has been reflected in invoiced sales and adjusted for work in progress.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements, such as trade and other accounts receivable and payable, bank loans and hire purchase and lease contracts.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern

These accounts have been prepared on a going concern basis, despite the Balance Sheet showing a negative position. The Director is confident that the company will return to profitability upon the completion of the development it is currently engaged on.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 February 2024

280,555

Additions

53,500

At 31 January 2025

334,055

DEPRECIATION

At 1 February 2024

156,402

Charge for year

44,413

At 31 January 2025

200,815

NET BOOK VALUE

At 31 January 2025

133,240

At 31 January 2024

124,153

Included within fixed assets are assets held under hire purchase contracts. These assets have a net book value at 31 January 2025 of £103,930 (2024 - £85,074). The depreciation charge for assets held under hire purchase contracts was £34,644 (2024 - £28,358) for the year.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

and 31 January 2025

275,000

NET BOOK VALUE

At 31 January 2025

275,000

At 31 January 2024

275,000

The fair value of the property is represented by:-

£

Cost upon acquisition in 2024

265,787

Valuation increase - 31 January 2024

9,213

275,000

The freehold property was revalued in January 2025 by the director, who considered that there was no significant change from the 2024 valuation.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Other debtors

15,880

1,972

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans and overdrafts

262,441

10,167

Hire purchase contracts

50,451

41,073

Trade creditors

13,907

18,932

Taxation and social security

8,485

22,010

Other creditors

572,586

316,853

907,870

409,035

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.25

31.1.24

£

£

Bank loans

3,886

13,816

Hire purchase contracts

20,341

36,340

Other creditors

889,820

-

914,047

50,156

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.25

31.1.24

£

£

Other loans

889,820

-

Hire purchase contracts

70,792

77,413

960,612

77,413

Hire purchase contract liabilities are secured against the asset upon which the contract was entered into.

Included within other creditors due within one year is a sum due to MT Finance Limited, which is secured against the company's investment property. This loan is due for repayment on 5th April 2025.

Included within other creditors due after more than one year are sums due to Shawbrook Bank and Bloomsbury Property Finance, which are secured by way of a fixed and floating charges against development land owned by the company in Newton, Suffolk. The sums due to Shawbrook Bank and Bloomsbury Property Finance represent development finance received by the company for the development of six properties on this site. The sums are repayable on or before 31st July 2026.