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REGISTERED NUMBER: 06279094 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

OUTER HARBOUR DEVELOPMENT LIMITED

OUTER HARBOUR DEVELOPMENT LIMITED (REGISTERED NUMBER: 06279094)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


OUTER HARBOUR DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mr K P Cooper
Mr R A Goodall
Mr T J Bennett





REGISTERED OFFICE: C/o The Brighton Marina Co Ltd
Brighton Marina Village
Brighton
East Sussex
BN2 5UF





REGISTERED NUMBER: 06279094 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

OUTER HARBOUR DEVELOPMENT LIMITED (REGISTERED NUMBER: 06279094)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 33,616,144 33,284,786

CURRENT ASSETS
Debtors 5 2 2

CREDITORS
Amounts falling due within one year 6 33,691,836 33,360,478
NET CURRENT LIABILITIES (33,691,834 ) (33,360,476 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(75,690

)

(75,690

)

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (75,692 ) (75,692 )
SHAREHOLDERS' FUNDS (75,690 ) (75,690 )

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 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.

OUTER HARBOUR DEVELOPMENT LIMITED (REGISTERED NUMBER: 06279094)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2023


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 18 September 2023 and were signed on its behalf by:





Mr T J Bennett - Director


OUTER HARBOUR DEVELOPMENT LIMITED (REGISTERED NUMBER: 06279094)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Outer Harbour Development 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.

EXEMPTION FROM PREPARING CONSOLIDATED FINANCIAL STATEMENTS
The financial statements contain information about Outer Harbour Development Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

DEBTORS
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

CREDITORS
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

GOING CONCERN
The financial statements have been prepared on the going concern basis on the assumption that the company's directors will continue to support the company by providing adequate facilities to enable the company to meet its financial obligations as they fall due for a period of at least twelve months from the date on which these financial statements are signed.

OUTER HARBOUR DEVELOPMENT LIMITED (REGISTERED NUMBER: 06279094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

INVESTMENTS
Investments are recognised at cost.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
Cost
At 1 April 2022 33,284,786
Additions 331,358
At 31 March 2023 33,616,144
Net book value
At 31 March 2023 33,616,144
At 31 March 2022 33,284,786

Fixed asset investments represent the company's capital account balance in The Outer Harbour Development Company Partnership LLP.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Called up share capital not paid 2 2

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 33,691,836 33,360,478

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

OUTER HARBOUR DEVELOPMENT LIMITED (REGISTERED NUMBER: 06279094)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


8. RELATED PARTY DISCLOSURES

Included in the Amounts owed to group undertakings are amounts of £32,207,144 (2022: £32,724,786) from Brighton Marina Group Ltd and £75,692 (2022: £75,692) from Outer Harbour Development Company Partnership LLP and £560,000 from Brighton Administration Company Ltd.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Brighton Marina Group Limited.