Earls Court Properties Limited

Earls Court Properties Limited
Registered number:		04185986
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		3,501,177			3,957,568

Current assets
Debtors	4	87,574			92,570
Cash at bank and in hand		25,887			6,645
		113,461			99,215

Creditors: amounts falling due within one year	5	(74,694)			(231,868)

Net current assets/(liabilities)			38,767			(132,653)

Total assets less current liabilities			3,539,944			3,824,915

Creditors: amounts falling due after more than one year	6		(1,581,564)			(1,803,501)



Net assets			1,958,380			2,021,414

Capital and reserves
Called up share capital			2			2
Revaluation reserve	8		1,885,000			2,116,000
Other Reserves			100,023			114,312
Profit and loss account			(26,645)			(208,900)

Shareholders' funds			1,958,380			2,021,414

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.



Mr.S.Fink
Director
Approved by the board on 31 December 2025

Earls Court Properties Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			25% reducing balance
	Computer equipment			25% reducing balance
	Motor vehicles			25% reducing balance

	Investment properties are included in the balance sheet at their fair value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. It is a departure from the general requirement of FRS102 for all tangible assets to be depreciated, in that Property/Buildings has not been depreciated. In the opinion of the director compliance with the reporting standard is necessary for the financial statements to give a true and fair view. However, depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.


	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					1		2


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2024	3,956,000		49,356		19,706		4,025,062
	Disposals	(456,000)		-		-		(456,000)
	At 31 March 2025	3,500,000		49,356		19,706		3,569,062

	Depreciation
	At 1 April 2024	-		47,830		19,664		67,494
	Charge for the year	-		381		10		391
	At 31 March 2025	-		48,211		19,674		67,885

	Net book value
	At 31 March 2025	3,500,000		1,145		32		3,501,177
	At 31 March 2024	3,956,000		1,526		42		3,957,568


	Freehold land and buildings:					2025		2024
£							£
	Historical cost					1,840,000		1,840,000
	Cumulative depreciation based on historical cost					-		-
						1,840,000		1,840,000

	The last revaluation of Land and Buildings was carried out on 31.03.2023 by the Director, Mr. S. Fink, with a revaluation total of £3,956,000.


4	Debtors					2025		2024
£							£

	Other debtors					87,574		92,570


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					4,776		5,086
	Corporation tax					4,693		-
	Other creditors					65,225		226,782
						74,694		231,868


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Mortgages					1,581,564		1,803,501


7	Loans					2025		2024
£							£
	Creditors include:
	Instalments falling due for payment after more than five years					1,581,564		1,803,501



8	Revaluation reserve					2025		2024
£							£

	At 1 April 2024					2,116,000		2,116,000
	Loss on revaluation of land and buildings					(231,000)		-

	At 31 March 2025					1,885,000		2,116,000


9	Other information

	Earls Court Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Kemp House,
	152 - 160 City Road,
	London.
	EC1V 2NX