The Esplanade Property Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00226574 (England and Wales)

THE ESPLANADE PROPERTY COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N G Banbury

Mr P S Dyer

Mr J D Martel

Ms J I Ryan

Dr. T Cannon

REGISTERED OFFICE:

First Floor, Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

REGISTERED NUMBER:

00226574 (England and Wales)

ACCOUNTANTS:

Carston ETL

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Tangible assets

4

-

Investment property

5

2,324,000

CURRENT ASSETS

Debtors

6

12,815

5,068

Cash at bank

28,213

34,785

41,028

39,853

CREDITORS

Amounts falling due within one year

7

42,580

26,945

NET CURRENT (LIABILITIES)/ASSETS

(1,552

)

12,908

TOTAL ASSETS LESS CURRENT LIABILITIES

2,322,448

2,336,908

CREDITORS

Amounts falling due after more than one year

8

(358,010

)

(404,784

)

PROVISIONS FOR LIABILITIES

(136,645

)

(136,645

)

NET ASSETS

1,827,793

1,795,479

CAPITAL AND RESERVES

Called up share capital

12,600

Revaluation reserve

10

1,016,333

Retained earnings

798,860

766,546

SHAREHOLDERS' FUNDS

1,827,793

1,795,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2026 and were signed on its behalf by:

Mr P S Dyer - Director

1.	STATUTORY INFORMATION

The Esplanade Property Company 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.

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 comprises rent, service charges and insurance contributions receivable and are exclusive of value added tax where applicable.

Tangible fixed assets

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

Fixtures and fittings

-

20% straight line on cost

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Property maintenance costs

n the absence of a specific intention by the board of either a disposition or substantial reconstruction of letting units in investment properties, all expenditure incurred on general repair, maintenance and upgrade is written off as incurred. It is the opinion of the board that the nature of the company's property ownership is such that any appreciation in value is due to the passage of time rather than intent to improve as policy and is as such reflected through the revaluation reserve.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2025 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2025

and 31 March 2026

13,848

DEPRECIATION

At 1 April 2025

and 31 March 2026

13,848

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

and 31 March 2026

2,324,000

NET BOOK VALUE

At 31 March 2026

2,324,000

At 31 March 2025

2,324,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 2010

284,509

Valuation in 2015

108,836

Valuation in 2019

300,000

Valuation in 2022

423,173

Cost

1,207,482

2,324,000

If investment property had not been revalued it would have been included at the following historical cost:

2026

2025

£

Cost

1,207,482

The main Investment property was valued on an open market basis on 31 March 2022 by a third party valuer and the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

9,616

2,762

Other debtors

3,199

2,306

12,815

5,068

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

291

304

Taxation and social security

13,548

9,772

Other creditors

28,741

16,869

42,580

26,945

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

Other creditors

358,010

404,784

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Building society mortgages

358,009

404,784

Secured debt comprising building society mortgages are secured by way of a fixed and floating charge on certain of the company's investment properties.

10.

RESERVES

Revaluation

reserve

£

At 1 April 2025

and 31 March 2026

1,016,333