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REGISTERED NUMBER: 10708355 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Saltburn Estates Limited

Saltburn Estates Limited (Registered number: 10708355)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Saltburn Estates Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: D Smith
Mrs E Duncan
S Smith





REGISTERED OFFICE: Lien House
120 High Street
Skelton-in-Cleveland
Saltburn-by-the-Sea
TS12 2EA





REGISTERED NUMBER: 10708355 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff LLP
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Saltburn Estates Limited (Registered number: 10708355)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,000,508 634,825

CURRENT ASSETS
Debtors 5 92,189 8,018
Cash at bank 2,126 13,011
94,315 21,029
CREDITORS
Amounts falling due within one year 6 420,862 203,766
NET CURRENT LIABILITIES (326,547 ) (182,737 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

673,961

452,088

CREDITORS
Amounts falling due after more than one
year

7

(338,549

)

(314,507

)

PROVISIONS FOR LIABILITIES (84,000 ) (23,302 )
NET ASSETS 251,412 114,279

CAPITAL AND RESERVES
Called up share capital 9 120 120
Fair value reserve 10 243,307 118,100
Retained earnings 10 7,985 (3,941 )
SHAREHOLDERS' FUNDS 251,412 114,279

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

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

Saltburn Estates Limited (Registered number: 10708355)

Balance Sheet - continued
31 December 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 18 October 2023 and were signed on its behalf by:





D Smith - Director


Saltburn Estates Limited (Registered number: 10708355)

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

1. STATUTORY INFORMATION

Saltburn Estates 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

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.

Significant judgements and estimates
In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period of the revision, if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

Turnover
Turnover represents rents received, excluding value added tax, recognised on the date of holiday departure. Monies received by the balance sheet date relating to holidays departing after the period end are included within current liabilities and deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Long leasehold - not provided
Fixtures and fittings - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulates impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.


Saltburn Estates Limited (Registered number: 10708355)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. When the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Government Grants
The business received government grants in respect of Council Rates Relief. These grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attached to them. The grants were received using the accrual model.

3. EMPLOYEES AND DIRECTORS

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

Saltburn Estates Limited (Registered number: 10708355)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Long and
property leasehold fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 January 2022 432,285 198,000 6,624 636,909
Additions 131,670 21,707 7,471 160,848
Revaluations 154,310 52,000 - 206,310
At 31 December 2022 718,265 271,707 14,095 1,004,067
DEPRECIATION
At 1 January 2022 - - 2,084 2,084
Charge for year - - 1,475 1,475
At 31 December 2022 - - 3,559 3,559
NET BOOK VALUE
At 31 December 2022 718,265 271,707 10,536 1,000,508
At 31 December 2021 432,285 198,000 4,540 634,825

The freehold and long leasehold properties were valued by Manhattan Property Management Limited, qualified property valuers, on 30 December 2022.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 19,595 -
Amounts owed by group undertakings 29,589 -
Other debtors 4,000 4,187
Taxation 12,047 -
VAT 20,640 3,831
Prepayments 6,318 -
92,189 8,018

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 167,772 33,935
Trade creditors 23,992 35,662
Amounts owed to group undertakings 199,484 70,052
Taxation - 11,939
Social security and other taxes - (260 )
Other creditors 19,811 47,332
Directors' current accounts - 4,506
Accrued expenses 9,803 600
420,862 203,766

Saltburn Estates Limited (Registered number: 10708355)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans - 1-2 years 53,866 314,507
Bank loans - 2-5 years 105,223 -
Bank loans more 5 yr by instal 179,460 -
338,549 314,507

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 179,460 -

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 506,321 348,442

The bank loans are secured by fixed and floating charges over the freehold and leasehold property of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
120 Ordinary £1 120 120

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 January 2022 (3,941 ) 118,100 114,159
Profit for the year 137,133 137,133
Reserves transfer (206,310 ) 206,310 -
Deferred tax transfer 81,103 (81,103 ) -
At 31 December 2022 7,985 243,307 251,292

11. PARENT UNDERTAKING

The immediate and ultimate parent company is SDDE Smith Group Limited. These financial statements are included in the consolidated financial statements of SDDE Smith Group Limited. The parent's registered office address is Lien House 120 High Street, Skelton-In-Cleveland, Saltburn-By-The-Sea, England, TS12 2EA.