E&D Properties Limited - Accounts to registrar (filleted) - small 23.1.2

E&D Properties Limited - Accounts to registrar (filleted) - small 23.1.2


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REGISTERED NUMBER: 08253541 (England and Wales)















Unaudited Financial Statements

for the Year Ended

31 October 2022

for

E&D Properties Limited

E&D Properties Limited (Registered number: 08253541)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


E&D Properties Limited

Company Information
for the Year Ended 31 October 2022







DIRECTORS: M Y Din
J S Eddowes





REGISTERED OFFICE: The Hive
142 Thornes Lane
Wakefield
West Yorkshire
WF2 7RE





REGISTERED NUMBER: 08253541 (England and Wales)





ACCOUNTANTS: Equate Limited
Chartered Certified Accountants
The Hive
142 Thornes Lane
Wakefield
West Yorkshire
WF2 7RE

E&D Properties Limited (Registered number: 08253541)

Balance Sheet
31 October 2022

31.10.22 31.10.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 282 422
Investment property 5 4,505,000 4,078,825
4,505,282 4,079,247

CURRENT ASSETS
Debtors 6 4,832 3,288
Cash at bank 60,557 71,292
65,389 74,580
CREDITORS
Amounts falling due within one year 7 436,836 410,678
NET CURRENT LIABILITIES (371,447 ) (336,098 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,133,835

3,743,149

CREDITORS
Amounts falling due after more than one year 8 (2,221,567 ) (2,311,106 )

PROVISIONS FOR LIABILITIES (334,774 ) (253,801 )
NET ASSETS 1,577,494 1,178,242

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,577,492 1,178,240
SHAREHOLDERS' FUNDS 1,577,494 1,178,242

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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.

E&D Properties Limited (Registered number: 08253541)

Balance Sheet - continued
31 October 2022


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 Board of Directors and authorised for issue on 29 November 2022 and were signed on its behalf by:





J S Eddowes - Director


E&D Properties Limited (Registered number: 08253541)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

E&D Properties 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 represents net invoiced sales of services, excluding value added tax, and is recognised when the company obtains the right to consideration.

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 - 33% on cost
Computer equipment - 33% on reducing balance

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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

E&D Properties Limited (Registered number: 08253541)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2021
and 31 October 2022 757 872 1,629
DEPRECIATION
At 1 November 2021 730 477 1,207
Charge for year 9 131 140
At 31 October 2022 739 608 1,347
NET BOOK VALUE
At 31 October 2022 18 264 282
At 31 October 2021 27 395 422

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2021 4,078,825
Revaluations 426,175
At 31 October 2022 4,505,000
NET BOOK VALUE
At 31 October 2022 4,505,000
At 31 October 2021 4,078,825

The valuation of investment properties were made by the directors on an open market basis as at 31 October 2022. On an historical cost basis these would have been included at an original cost of £3,119,242 (2021 :£3,119,242), and aggregate depreciation of £Nil (2021: £Nil).

Fair value at 31 October 2022 is represented by:
£   
Valuation in 2016 1,210,055
Valuation in 2017 115,000
Valuation in 2018 520,301
Valuation in 2019 329,645
Valuation in 2020 1,073,000
Valuation in 2021 830,824
Valuation in 2022 426,175
4,505,000

E&D Properties Limited (Registered number: 08253541)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Trade debtors 2,334 385
Prepayments and accrued income 2,498 2,903
4,832 3,288

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Bank loans and overdrafts 12,561 22,945
Trade creditors 27,588 15,745
Tax 12,814 1,128
Social security and other taxes 275 257
Other creditors 40,824 35,424
Directors' current accounts 299,041 333,559
Accruals and deferred income 43,733 1,620
436,836 410,678

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.22 31.10.21
£    £   
Bank loans - 1-2 years 14,600 13,653
Bank loans - 2-5 years 55,153 51,077
Bank loans more 5 yr by instal 2,151,814 2,160,376
Other loans - 1-2 years - 86,000
2,221,567 2,311,106

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,151,814 2,160,376

9. RELATED PARTY DISCLOSURES

Loans are from companies under the common control of the directors being £43,000 from Coretek Properties Limited and £43,000 from Circle Lettings Limited were both repaid in the financial year.

10. ULTIMATE CONTROLLING PARTY

The company is under the joint control of it's directors.