IRIS Accounts Production v23.3.0.418 01070521 director 1.4.22 31.3.23 31.3.23 true false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010705212022-03-31010705212023-03-31010705212022-04-012023-03-31010705212021-03-31010705212021-04-012022-03-31010705212022-03-3101070521ns10:Originalns15:EnglandWales2022-04-012023-03-3101070521ns14:PoundSterlingns10:Original2022-04-012023-03-3101070521ns10:Originalns10:Director12022-04-012023-03-3101070521ns10:Original2022-04-012023-03-3101070521ns10:Original2023-03-3101070521ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3101070521ns10:Originalns10:SmallEntities2022-04-012023-03-3101070521ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3101070521ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3101070521ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3101070521ns10:Originalns10:FullAccounts2022-04-012023-03-3101070521ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3101070521ns10:CompanySecretary1ns10:Original2022-04-012023-03-3101070521ns10:Originalns10:RegisteredOffice2022-04-012023-03-3101070521ns10:Original2022-03-3101070521ns10:Originalns5:CurrentFinancialInstruments2023-03-3101070521ns10:Originalns5:CurrentFinancialInstruments2022-03-3101070521ns10:Originalns5:Non-currentFinancialInstruments2023-03-3101070521ns10:Originalns5:Non-currentFinancialInstruments2022-03-3101070521ns5:ShareCapitalns10:Original2023-03-3101070521ns5:ShareCapitalns10:Original2022-03-3101070521ns10:Originalns5:SharePremium2023-03-3101070521ns10:Originalns5:SharePremium2022-03-3101070521ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2023-03-3101070521ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-03-3101070521ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3101070521ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-03-3101070521ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3101070521ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3101070521ns10:Original2021-04-012022-03-3101070521ns10:Originalns5:PlantMachinery2022-03-3101070521ns10:Originalns5:PlantMachinery2022-04-012023-03-3101070521ns10:Originalns5:PlantMachinery2023-03-3101070521ns10:Originalns5:PlantMachinery2022-03-3101070521ns10:Originalns5:CostValuation2022-03-3101070521ns10:Originalns5:Subsidiary12022-04-012023-03-3101070521ns10:Originalns5:Subsidiary112022-04-012023-03-3101070521ns10:Originalns5:Subsidiary12023-03-3101070521ns10:Originalns5:Subsidiary12022-03-3101070521ns10:Originalns5:Subsidiary12021-04-012022-03-3101070521ns10:Originalns5:Subsidiary22022-04-012023-03-3101070521ns10:Original3ns5:Subsidiary22022-04-012023-03-3101070521ns10:Originalns5:Subsidiary22023-03-3101070521ns10:Originalns5:Subsidiary22022-03-3101070521ns10:Originalns5:Subsidiary22021-04-012022-03-3101070521ns5:Subsidiary3ns10:Original2022-04-012023-03-3101070521ns5:Subsidiary3ns10:Original52022-04-012023-03-3101070521ns5:Subsidiary3ns10:Original2023-03-3101070521ns5:Subsidiary3ns10:Original2022-03-3101070521ns5:Subsidiary3ns10:Original2021-04-012022-03-3101070521ns10:Originalns5:Subsidiary42022-04-012023-03-31010705217ns10:Originalns5:Subsidiary42022-04-012023-03-3101070521ns10:Originalns5:Subsidiary42023-03-3101070521ns10:Originalns5:Subsidiary42022-03-3101070521ns10:Originalns5:Subsidiary42021-04-012022-03-3101070521ns10:Originalns5:Subsidiary52022-04-012023-03-3101070521ns10:Original9ns5:Subsidiary52022-04-012023-03-3101070521ns10:Originalns5:Subsidiary52023-03-3101070521ns10:Originalns5:Subsidiary52022-03-3101070521ns10:Originalns5:Subsidiary52021-04-012022-03-3101070521ns5:Subsidiary6ns10:Original2022-04-012023-03-3101070521ns5:Subsidiary6ns10:Original112022-04-012023-03-3101070521ns5:Subsidiary6ns10:Original2023-03-3101070521ns5:Subsidiary6ns10:Original2022-03-3101070521ns5:Subsidiary6ns10:Original2021-04-012022-03-3101070521ns10:Originalns5:Subsidiary72022-04-012023-03-3101070521ns10:Originalns5:Subsidiary7132022-04-012023-03-3101070521ns10:Originalns5:Subsidiary72023-03-3101070521ns10:Originalns5:Subsidiary72022-03-3101070521ns10:Originalns5:Subsidiary72021-04-012022-03-3101070521ns10:Original2022-03-3101070521ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101070521ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3101070521ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3101070521ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-03-3101070521ns5:Securedns10:Original2023-03-3101070521ns5:Securedns10:Original2022-03-3101070521ns10:Originalns5:DeferredTaxation2022-03-3101070521ns10:Originalns5:DeferredTaxation2022-04-012023-03-3101070521ns10:Originalns5:DeferredTaxation2023-03-3101070521ns10:Originalns10:OrdinaryShareClass12023-03-3101070521ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3101070521ns10:Originalns5:SharePremium2022-03-3101070521ns10:Originalns5:FurtherSpecificReserve1ComponentTotalEquity2022-03-3101070521ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-03-3101070521ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-3101070521ns10:Original1ns10:Director12022-03-3101070521ns10:Original1ns10:Director12021-03-3101070521ns10:Original1ns10:Director12022-04-012023-03-3101070521ns10:Original1ns10:Director12021-04-012022-03-3101070521ns10:Original1ns10:Director12023-03-3101070521ns10:Original1ns10:Director12022-03-31
REGISTERED NUMBER: 01070521 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Stonehurst Estates Limited

Stonehurst Estates Limited (Registered number: 01070521)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Stonehurst Estates Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: S A Briggs





SECRETARY: Mrs C J Briggs





REGISTERED OFFICE: Danehill Lodge Tanyard Lane
Danehill
Haywards Heath
West Sussex
RH17 7JW





REGISTERED NUMBER: 01070521 (England and Wales)





ACCOUNTANTS: Harrison North
1 Northumberland Avenue
Trafalgar Square
London
WC2N 5BW

Stonehurst Estates Limited (Registered number: 01070521)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,795 4,672
Investments 5 1,594,488 1,594,488
Investment property 6 7,800,000 8,150,000
9,398,283 9,749,160

CURRENT ASSETS
Stocks 4,188,230 4,454,809
Debtors 7 9,142,474 10,308,654
Cash at bank 77,239 145,311
13,407,943 14,908,774
CREDITORS
Amounts falling due within one year 8 1,225,715 1,441,469
NET CURRENT ASSETS 12,182,228 13,467,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,580,511

23,216,465

CREDITORS
Amounts falling due after more than
one year

9

(3,800,000

)

(4,680,000

)

PROVISIONS FOR LIABILITIES 12 (617,175 ) (680,000 )
NET ASSETS 17,163,336 17,856,465

Stonehurst Estates Limited (Registered number: 01070521)

Balance Sheet - continued
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 147,160 147,160
Share premium 14 7,350 7,350
Unrealised intra-group
property transfer reserve 14 2,234,347 2,234,347
Fair value reserve 14 5,285,215 5,285,215
Retained earnings 14 9,489,264 10,182,393
SHAREHOLDERS' FUNDS 17,163,336 17,856,465

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 24 November 2023 and were signed by:





S A Briggs - Director


Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Stonehurst 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.

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 comprises property sales proceeds, contract works and development fees invoiced and rents receivable, all excluding VAT.

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

Furniture & equipment - term of leases
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Developments / work in progress
Property developments in progress and work in progress are valued at the lower of cost and net realisable value.

Cost comprises the initial purchase price together with subsequent direct costs.


Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 50,075
Additions 833
At 31 March 2023 50,908
DEPRECIATION
At 1 April 2022 45,403
Charge for year 1,710
At 31 March 2023 47,113
NET BOOK VALUE
At 31 March 2023 3,795
At 31 March 2022 4,672

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1,594,488
NET BOOK VALUE
At 31 March 2023 1,594,488
At 31 March 2022 1,594,488

Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Temple Grove House Limited
Registered office: United Kingdom
Nature of business: Property development
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves - 10,931
Loss for the year (10,931 ) (1 )

Joseph Yates Limited
Registered office: United Kingdom
Nature of business: Property investment
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves 2,297,706 2,236,915
Profit for the year 60,791 159,712

Stoneacre Construction Limited
Registered office: United Kingdom
Nature of business: Construction contractor
%
Class of shares: holding
Ordinary 75.19
31.3.23 31.3.22
£    £   
Aggregate capital and reserves - 178,457
Profit for the year 178,457 3,217

Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. FIXED ASSET INVESTMENTS - continued

Anchor Hartfield Limited
Registered office: United Kingdom
Nature of business: Management of a Public House
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves (213,466 ) (203,899 )
Loss for the year (9,567 ) (14,973 )

Vittoria Apartments Limited
Registered office:
Nature of business: Property development
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves (672,206 ) (662,298 )
Loss for the year (9,908 ) (105,576 )

Keyhill Village Limited
Registered office:
Nature of business: Property development
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves - 57,422
Profit for the year - 91,086

Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. FIXED ASSET INVESTMENTS - continued

Key Hill Village (Hockley)Limited
Registered office:
Nature of business: Property development
%
Class of shares: holding
Ordinary 100.00
31.3.23 31.3.22
£    £   
Aggregate capital and reserves (45,436 ) (15,139 )
Loss for the year (30,297 ) (15,140 )

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 8,150,000
Disposals (350,000 )
At 31 March 2023 7,800,000
NET BOOK VALUE
At 31 March 2023 7,800,000
At 31 March 2022 8,150,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 7,800,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 1,096,315 1,096,315

The investment properties were valued on an open market basis on 3 June 2021 by Savills and the director .

Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.3.23 31.3.22
£    £   
Amounts owed by group undertakings 8,988,498 10,154,016
Other debtors 153,976 154,638
9,142,474 10,308,654

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.3.23 31.3.22
£    £   
Trade creditors 24,316 2,340
Amounts owed to group undertakings - 200,931
Amounts owed to associates 1,026,000 1,026,000
Other creditors 175,399 212,198
1,225,715 1,441,469

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans (see note 10) 3,800,000 4,680,000

10. LOANS

An analysis of the maturity of loans is given below:

31.3.23 31.3.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 3,800,000 4,680,000

Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


11. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 3,800,000 4,680,000

The Rothschild bank loan advanced during the prior period carries interest payable monthly at a rate of 2.5% over the Bank of England base rate. The capital element is repayable in full on 30th June 2026.

12. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 617,175 680,000

Deferred
tax
£   
Balance at 1 April 2022 680,000
Credit to Income Statement during year (62,825 )
Balance at 31 March 2023 617,175

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
147,160 Ordinary 1 147,160 147,160

Stonehurst Estates Limited (Registered number: 01070521)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


14. RESERVES
Unrealised
intra-group
property Fair
Retained Share transfer value
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 April 2022 10,182,393 7,350 2,234,347 5,285,215 17,709,305
Deficit for the year (691,129 ) (691,129 )
Dividends (2,000 ) (2,000 )
At 31 March 2023 9,489,264 7,350 2,234,347 5,285,215 17,016,176

15. CONTINGENT LIABILITIES

During the year ended 31 March 2020 an accident occurred at the fellow subsidary company Vittoria Apartments Ltd's Unity Works development site which resulted in a fatality. The matter is currently subject to a legal case which the director, Stonehurst Estates Limited and Vittoria Apartments Limited are defending. At this stage there is uncertainty as to financial penalties , if any, which might be levied.

16. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
S A Briggs
Balance outstanding at start of year (55,167 ) (75,167 )
Amounts advanced (2,000 ) -
Amounts repaid - 20,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (57,167 ) (55,167 )

17. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S A Briggs.

The company's parent company is Stonehurst Group Limited whose registered office is in England.