| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| GEORGE EWEN LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FOR |
| GEORGE EWEN LIMITED |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GEORGE EWEN LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Appledram Barns |
| Birdham Road |
| Chichester |
| West Sussex |
| PO20 7EQ |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 10 |
| Revaluation reserve |
| Retained earnings |
| 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. |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| BALANCE SHEET - continued |
| 31 MARCH 2025 |
| The financial statements were approved by the director and authorised for issue on |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| George Ewen Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£) & the figures within the financial statements are rounded to the nearest Pound (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a basis other than a going concern as the director expects the company to enter a Members Voluntary Liquidation (MVL) in the near future. Assets and liabilities, where applicable, have been revalued to their net realisable value. Deferred tax has been recognised in respect of any unrealised gains that are reasonably expected to be realised in the future. |
| Turnover |
| Turnover represents the value of royalties received and rent receivable, which excludes value added tax. Royalties and rental are recognised over the period they relate to. |
| Intangible assets |
| Intangible assets are initially recognised at cost and are subsequently measured at cost less accumulated amortisation and impairment. |
| Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
| Other intangible assets | - | 10% on cost |
| Tangible fixed assets |
| Tangible fixed assets are initially measured at cost and subsequently measured at cost less accumulated depreciation and impairment. |
| Depreciation is recognised so as to write off the cost or valuation of assets, less their residual value, over their useful lives on the following basis: |
| Freehold land and buildings | - | 5% on cost |
| Plant and machinery | - | 15% on reducing balance |
| Fixtures and fittings | - | 25% on cost |
| Motor vehicles | - | 25% on cost |
| Computer equipment | - | 15% on reducing balance |
| Freehold land and buildings are initially recognised at cost and subsequently recognised using the revaluation model. Land is not depreciated. Gains on revaluation are recognised within other comprehensive income. Accumulated gains on revaluation, net of deferred tax, are recognised within the revaluation reserve. |
| Investment property |
| Investment property is initially measured at cost and subsequently measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method, unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments. |
| 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. |
| Employee benefits |
| The costs of short term employee benefit's are recognised as a liability and an expenses, unless those costs are required to be recognised as part of the cost of stock or fixed assets. |
| The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
| Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employe or to provide termination benefits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 4. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| COST |
| At 1 April 2024 |
| and 31 March 2025 |
| AMORTISATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Freehold | Fixtures |
| land and | Plant and | and |
| buildings | machinery | fittings |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Revaluations |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2024 |
| Additions |
| Revaluations |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Charge for year |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Cost or valuation at 31 March 2025 is represented by: |
| Freehold | Fixtures |
| land and | Plant and | and |
| buildings | machinery | fittings |
| £ | £ | £ |
| Valuation in 2025 | 724,776 | - | - |
| Cost | 166,701 | 57,630 | 4,920 |
| 891,477 | 57,630 | 4,920 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| Valuation in 2025 | - | - | 724,776 |
| Cost | 87,377 | 2,923 | 319,551 |
| 87,377 | 2,923 | 1,044,327 |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2024 |
| Revaluations | 65,000 |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| Fair value at 31 March 2025 is represented by: |
| £ |
| Valuation in 2025 | 65,000 |
| Valuation in 2023 | 955,000 |
| Valuation in 2022 | 235,731 |
| Valuation in 2020 | 8,977 |
| Valuation in 2019 | 41,000 |
| Valuation in 2018 | 165,000 |
| Cost | 549,292 |
| 2,020,000 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 549,292 | 549,292 |
| Investment property was valued on an open market basis on 29 December 2022 by Giles Wheeler-Bennett Chartered Surveyors . |
| The director obtained an updated valuation from Giles Wheeler-Bennett in September 2025. This was performed using the valuations extracted from the independent valuer's report performed in December 2022 as a basis and considering the property and market activity since the previous valuation. The director believes that this valuation is indicative of the fair value of the investment properties at the balance sheet date. |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| GEORGE EWEN LIMITED (REGISTERED NUMBER: 00414288) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 286,283 | - |
| Deferred tax |
| £ |
| Provided during year |
| Balance at 31 March 2025 |
| The deferred tax provision recognised at the balance sheet date relates to a provision of £175,150 on investment properties, £97,009 on freehold land and buildings and £14,124 on the remaining tangible fixed assets held. The deferred tax provision relates to the estimated corporation tax charge that would arise if those assets were disposed of at their book value at the reporting date. |
| 10. | RESERVES |
| The non-distributable reserve represents the accumulated fair value gains on investment property, net of deferred tax. |
| The revaluation reserve represents the accumulated revaluation gains on freehold land and buildings, net of deferred tax. |
| 11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| During the year the director was advanced £707,050 (2024: £89,513) and repaid £101,513 (2024: £nil). At the balance sheet date, £759,106 (2024: £153,569) was owed by the director to the company. Interest is charged on the balance at HMRC's official rate and the balance is repayable on demand. |
| 12. | RELATED PARTY DISCLOSURES |
| At the balance sheet date, £Nil (2024: £1,093,078) was owed by the company to a shareholder. No interest was charged on the loan and the balance was repayable on demand. |
| 13. | POST BALANCE SHEET EVENTS |
| The decision has been made, following the balance sheet date, for the company to pursue a Members Voluntary Liquidation (MVL). The timing and cost of the MVL are uncertain and therefore no legal costs have been recognised in these financial statements in relation to this. |