Elstow Property Investment Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 02001580 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

ELSTOW PROPERTY INVESTMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

R. Chrystal

REGISTERED OFFICE:

61 Harpur Street

Bedford

Bedfordshire

MK40 2SR

REGISTERED NUMBER:

02001580 (England and Wales)

ACCOUNTANTS:

Longstaff, Gentle & Co

61 Harpur Street

Bedford

Bedfordshire

MK40 2SR

FIXED ASSETS

Tangible assets

4

5,804

4,740

Investment property

5

9,477,219

9,046,183

9,483,023

9,050,923

CURRENT ASSETS

Debtors

6

36,021

36,127

Cash at bank

1,521,426

610,557

1,557,447

646,684

CREDITORS

Amounts falling due within one year

7

290,527

210,632

NET CURRENT ASSETS

1,266,920

436,052

TOTAL ASSETS LESS CURRENT LIABILITIES

10,749,943

9,486,975

CREDITORS

Amounts falling due after more than one year

8

(480,000

)

(480,000

)

PROVISIONS FOR LIABILITIES

(1,162,054

)

(1,011,554

)

NET ASSETS

9,107,889

7,995,421

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

9,097,889

7,985,421

SHAREHOLDERS' FUNDS

9,107,889

7,995,421

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 October 2023 and were signed by:

R. Chrystal - Director

1.	STATUTORY INFORMATION

Elstow Property Investment 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 consists of rental income receivable during the year.

Tangible fixed assets

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

Land and buildings

- revalued annually

Plant and machinery etc

- 25% on written down value

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 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.

Investment property

In accordance with Statement of Standard Accounting Practice 19, investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. Freehold investment properties are not depreciated. Leasehold investment properties are not amortised. The directors consider that this policy is necessary to provide a true and fair view.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

81,410

Additions

2,999

At 31 March 2023

84,409

DEPRECIATION

At 1 April 2022

76,670

Charge for year

1,935

At 31 March 2023

78,605

NET BOOK VALUE

At 31 March 2023

5,804

At 31 March 2022

4,740

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2022

9,046,183

Disposals

(696,143

)

Revaluations

1,127,179

At 31 March 2023

9,477,219

NET BOOK VALUE

At 31 March 2023

9,477,219

At 31 March 2022

9,046,183

Fair value at 31 March 2023 is represented by:

£

Valuation in 2023

9,477,219

If Investment Properties had not been revalued they would have been included at the following historical cost:

31.3.23

31.3.22

£

£

Cost

2,332,910

2,455,894

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade Debtors

32,777

32,777

Prepayments

3,244

3,350

36,021

36,127

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Corporation Tax

132,266

116,452

Directors' current accounts

118,899

65,000

Creditors and Accrued Expenses

39,362

29,180

290,527

210,632

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Other loans more 5yrs non-inst

480,000

480,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

480,000

480,000

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Longstaff, Gentle & Co

61 Harpur Street

Bedford

Bedfordshire

MK40 2SR

14 October 2023