Company registration number 07565264 (England and Wales)
ETRO PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
ETRO PROPERTIES LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
ETRO PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JULY 2025
31 July 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
392,287
316,407
Investment property
4
7,909,000
7,659,600
8,301,287
7,976,007
Current assets
Debtors
5
1,128,170
1,069,334
Cash at bank and in hand
798,787
880,014
1,926,957
1,949,348
Creditors: amounts falling due within one year
6
(233,627)
(201,671)
Net current assets
1,693,330
1,747,677
Total assets less current liabilities
9,994,617
9,723,684
Creditors: amounts falling due after more than one year
7
(4,315,155)
(4,223,820)
Provisions for liabilities
(739,540)
(692,732)
Net assets
4,939,922
4,807,132
Capital and reserves
Called up share capital
6
6
Share premium account
1,199,996
1,199,996
Profit and loss reserves
9
3,739,920
3,607,130
Total equity
4,939,922
4,807,132
ETRO PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JULY 2025
31 July 2025
- 2 -

For the financial year ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 March 2026 and are signed on its behalf by:
S K Jerath
Director
Company registration number 07565264 (England and Wales)
ETRO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
1
Accounting policies
Company information

Etro Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bulman House, Regent Centre, Gosforth, Newcastle upon Tyne, England, NE3 3LS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include investment properties measured at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Fixtures and fittings
10% reducing balance
Equipment
33% straight line
Motor vehicles
3.5% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ETRO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ETRO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
ETRO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2024
274,206
5,597
212,727
492,530
Additions
-
0
-
0
97,070
97,070
At 31 July 2025
274,206
5,597
309,797
589,600
Depreciation and impairment
At 1 August 2024
159,720
4,766
11,637
176,123
Depreciation charged in the year
11,695
475
9,020
21,190
At 31 July 2025
171,415
5,241
20,657
197,313
Carrying amount
At 31 July 2025
102,791
356
289,140
392,287
At 31 July 2024
114,486
831
201,090
316,407
4
Investment property
2025
£
Fair value
At 1 August 2024
7,659,600
Additions
149,400
Revaluations
100,000
At 31 July 2025
7,909,000

The fair value of the investment property has been arrived at on the basis of the valuation carried out at 31 July 2025 by S K Jerath, a director of Etro Properties Limited. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The historical cost of the properties is £4,792,738 (2024: £4,643,338).

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
429,116
342,157
Prepayments and accrued income
47,969
53,956
477,085
396,113
ETRO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
5
Debtors
(Continued)
- 7 -
2025
2024
Amounts falling due after more than one year:
£
£
Other debtors
651,085
673,221
Total debtors
1,128,170
1,069,334
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
8
5,576
4,974
Obligations under finance leases
13,709
7,438
Trade creditors
-
0
5,385
Corporation tax
-
0
6,558
Other taxation and social security
2,589
2,484
Deferred income
51,277
23,950
Other creditors
155,876
145,297
Accruals
4,600
5,585
233,627
201,671

Included within other creditors is amounts owed to directors of £100,000 (202 4 - £100,000).

Assets held under hire purchases are secured on the assets to which they relate

7
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
8
3,457,945
3,484,386
Obligations under finance leases
169,238
124,140
Other creditors
687,972
615,294
4,315,155
4,223,820

Included within other creditors is amounts owed to directors of £687,972 (202 4 - £605,294).

ETRO PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 8 -
8
Loans and overdrafts
2025
2024
£
£
Bank loans
3,463,521
3,489,360
Payable within one year
5,576
4,974
Payable after one year
3,457,945
3,484,386

Bank loans include a loan secured over the property to which it relates of £3,436,665 (2024: £3,456,951)

9
Profit and loss reserves

Included within profit and loss reserves are non-distributable profits of £1,749,363 (2024: £1,674,363).

10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Included within other debtors is £1,082,125 (202 4 - £1,009,678) due from companies under common control.

Claremont Place Limited is a related party by virtue of common directors. In the prior year a loan of £180,805 was transfered to the directors loan account of Mr S Jerath. On 8th October 2024 Claremont Place Limited was disolved.

Etro Developments Limited is a related party by virtue of common directors. During the year, Etro Properties Limited provided Etro Developments Limited loans of £5,000 (202 4 - £1 0,000). At the year end the amount outstanding included within other debtors is £10,000 (202 4 - £5,000).

Etro Properties (Gosforth) Limited is a related party by virtue of common directors. During the year, Etro Properties (Gosforth) Limited repaid loans of £311,457 to Etro Properties Limited. At the year end the amount outstanding included within other debtors is £10,000 (202 4 - £321,457).

Etro Properties (London) Limited is a related party by virtue of common directors. At the year end the amount outstanding included within other debtors is £10,000 (202 4 - £10,000).

11
Parent company

The ultimate controlling parties are S K Jerath and R R Jerath by virtue of them owning 100% of the share capital of the parent entity.

The company's immediate parent is Etro Group Ltd, incorporated in England and Wales with a registered office of Bulman House Regent Centre, Gosforth, Newcastle Upon Tyne, England, NE3 3LS. Etro Group Ltd prepares consolidated financial statements.

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