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ASSOCIATE ESTATES (UK) LIMITED

Registered Number
10291123
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2025

ASSOCIATE ESTATES (UK) LIMITED
Company Information
for the year from 1 August 2024 to 31 July 2025

Directors | RUSSELL, Ann Katharine
| RUSSELL, Christopher John

Company Secretary | RUSSELL, Christopher John

Registered Address | 6 Marina Drive
| Hamble
| Southampton
| SO31 4PJ

Registered Number | 10291123 (England and Wales)

ASSOCIATE ESTATES (UK) LIMITED
Balance Sheet as at
31 July 2025

| Notes | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 3 |  |  | 1,272,222 |  |  |  | 1,407,156
|  |  |  | 1,272,222 |  |  |  | 1,407,156
Current assets |  |  |  |  |  |  |  |
Debtors |  | 6,099 |  |  |  | 4,791 |  |
Cash at bank and on hand |  | 1,397 |  |  |  | 260 |  |
|  | 7,496 |  |  |  | 5,051 |  |
Creditors amounts falling due within one year | 5 | (799,099) |  |  |  | (831,272) |  |
Net current assets (liabilities) |  |  |  | (791,603) |  |  |  | (826,221)
Total assets less current liabilities |  |  |  | 480,619 |  |  |  | 580,935
Creditors amounts falling due after one year | 6 |  |  | (3,227) |  |  |  | (8,263)
Provisions for liabilities | 7 |  |  | (36,698) |  |  |  | (61,909)
Net assets |  |  |  | 440,694 |  |  |  | 510,763
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 100 |  |  |  | 100
Profit and loss account |  |  |  | 440,594 |  |  |  | 510,663
Shareholders' funds |  |  |  | 440,694 |  |  |  | 510,763

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 21 April 2026, and are signed on its behalf by:
RUSSELL, Ann Katharine Director
RUSSELL, Christopher John Director Registered Company No. 10291123

ASSOCIATE ESTATES (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 July 2025

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

| Turnover policy
--- | ---
| Turnover represents rental income and service charges receivable.

| Revenue from sale of goods
--- | ---
| 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.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Deferred tax
--- | ---
| 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.

| Tangible fixed assets and depreciation
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant & Machinery - Depreciated Straight Line over 4 years.

|  | Straight line (years)
| Office Equipment | 4

| Investments
--- | ---
| The fair value of the investment properties has been arrived at on the basis of a valuation carried out by the director of the company. The valuation was made on an open market basis by reference to the market value for similar properties

2. | Average number of employees
--- | ---

|  | 2025 |  | 2024
| Average number of employees during the year | 0 |  | 0

3. | Tangible fixed assets
--- | ---

|  | Land & buildings |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £
| Cost or valuation
| At 01 August 24 | 1,406,510 |  | 1,294 |  | 1,407,804
| Revaluations | (134,610) |  | - |  | (134,610)
| At 31 July 25 | 1,271,900 |  | 1,294 |  | 1,273,194
| Depreciation and impairment
| At 01 August 24 | - |  | 648 |  | 648
| Charge for year | - |  | 324 |  | 324
| At 31 July 25 | - |  | 972 |  | 972
| Net book value
| At 31 July 25 | 1,271,900 |  | 322 |  | 1,272,222
| At 31 July 24 | 1,406,510 |  | 646 |  | 1,407,156

| Office Equipment - Depreciated 25% Straight Line

4. | Revaluation of property, plant and equipment
--- | ---
| Property, plant and equipment includes three investment properties purchased in 2016 and 2017 for a combined value of £1,125,108. The properties have been revalued to their fair values as required by FRS102.

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Land and buildings | 1,271,900 |  | 1,406,510
| Office equipment | 322 |  | 646

5. | Creditors: amounts due within one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 5,000 |  | 5,000
| Amounts owed to related parties | 782,968 |  | 805,533
| Taxation and social security | 9,301 |  | 20,089
| Accrued liabilities and deferred income | 1,830 |  | 650
| Total | 799,099 |  | 831,272

| 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.

6. | Creditors: amounts due after one year
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 3,227 |  | 8,263
| Total | 3,227 |  | 8,263

7. | Provisions for liabilities
--- | ---

|  | 2025 |  | 2024
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 36,698 |  | 61,909
| Total | 36,698 |  | 61,909