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Registration number: 13088509

Exeter Estates Holdings Limited

Filleted Unaudited Financial Statements

for the Period from 17 December 2020 to 31 December 2021

 

Exeter Estates Holdings Limited
(Registration number: 13088509)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Exeter Estates Holdings Limited
(Registration number: 13088509)

Company Information

Directors

Mr A G E Rowe

Mr D H Langley

Mr J Whiley

Company secretary

Mrs S M Rowe

Registered office

Thompson Jenner LLP
1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Exeter Estates Holdings Limited
(Registration number: 13088509)

Balance Sheet as at 31 December 2021

Note

2021
£

Fixed assets

 

Tangible assets

4

5,144,556

Investment property

5

4,005,180

Investments

4,523

 

9,154,259

Current assets

 

Debtors

7

19,144,100

Cash at bank and in hand

 

1,035,696

 

20,179,796

Creditors: Amounts falling due within one year

8

(29,120,396)

Net current liabilities

 

(8,940,600)

Net assets

 

213,659

Capital and reserves

 

Called up share capital

118

Profit and loss account

213,541

Total equity

 

213,659

For the financial period ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 July 2022 and signed on its behalf by:
 

.........................................
Mr A G E Rowe
Director

   
     
 

Exeter Estates Holdings Limited
(Registration number: 13088509)

Notes to the Unaudited Financial Statements for the Period from 17 December 2020 to 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Thompson Jenner LLP
1 Colleton Crescent
Exeter
Devon
EX2 4DG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The directors have considered the impact of COVID-19 and do not consider it to have a material impact on the balances included within the financial statements.

In addition, the Directors do not consider it to cast any significant doubt upon the company's ability to continue to trade as a going concern.

The directors have taken both reactive and proactive measures in order to mitigate any risks associated with COVID-19 including managing cash flow to ensure that debts can be paid when they fall due, managing staffing levels and monitoring key customer and supplier activity.

The directors have implemented a robust system of procedures and controls in order to deal with any associated risks.
 

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Exeter Estates Holdings Limited
(Registration number: 13088509)

Notes to the Unaudited Financial Statements for the Period from 17 December 2020 to 31 December 2021

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

No depreciation charged

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Exeter Estates Holdings Limited
(Registration number: 13088509)

Notes to the Unaudited Financial Statements for the Period from 17 December 2020 to 31 December 2021

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3.

 

Exeter Estates Holdings Limited
(Registration number: 13088509)

Notes to the Unaudited Financial Statements for the Period from 17 December 2020 to 31 December 2021

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

6,120,218

6,120,218

Disposals

(975,662)

(975,662)

At 31 December 2021

5,144,556

5,144,556

Depreciation

Carrying amount

At 31 December 2021

5,144,556

5,144,556

Included within the net book value of land and buildings above is £5,144,556 in respect of freehold land and buildings.
 

5

Investment properties

2021
£

Additions

4,005,180

At 31 December

4,005,180

There has been no valuation of investment property by an independent valuer.

6

Investments

2021
£

Investments in subsidiaries

4,523

Subsidiaries

£

Cost or valuation

Additions

4,523

Provision

Carrying amount

At 31 December 2021

4,523

 

Exeter Estates Holdings Limited
(Registration number: 13088509)

Notes to the Unaudited Financial Statements for the Period from 17 December 2020 to 31 December 2021

7

Debtors

Note

2021
£

Trade debtors

 

57,083

Amounts owed by group undertakings and undertakings in which the company has a participating interest

19,063,601

Other debtors

 

22,874

Prepayments and accrued income

 

542

Total current trade and other debtors

 

19,144,100

8

Creditors

2021
£

Due within one year

Trade creditors

103

Taxation and social security

230,429

Other creditors

28,845,531

Deferred income

44,333

29,120,396