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REGISTERED NUMBER: 07199802 (England and Wales)















Audited Financial Statements for the Year Ended 31 March 2023

for

Hamstead Hall Limited

Hamstead Hall Limited (Registered number: 07199802)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hamstead Hall Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: C A Butterfield FCA
J E M Gulliford MRICS
J S Butterfield MRICS
M A Poole FCA





REGISTERED OFFICE: Evenbrook Brecon House
Browns Green
Birmingham
B20 1FE





REGISTERED NUMBER: 07199802 (England and Wales)





AUDITORS: CKCA Limited
No 4 Castle Court 2
Castlegate Way
Dudley
West Midlands
DY1 4RH

Hamstead Hall Limited (Registered number: 07199802)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 470,432 99,077
Investment property 5 1,524,470 1,524,470
1,994,902 1,623,547

CURRENT ASSETS
Debtors 6 424,589 434,466

CREDITORS
Amounts falling due within one year 7 631,581 273,642
NET CURRENT (LIABILITIES)/ASSETS (206,992 ) 160,824
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,787,910

1,784,371

PROVISIONS FOR LIABILITIES 8 285,000 285,000
NET ASSETS 1,502,910 1,499,371

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 9 925,448 925,448
Retained earnings 9 577,461 573,922
SHAREHOLDERS' FUNDS 1,502,910 1,499,371

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 14 June 2023 and were signed on its behalf by:




C A Butterfield FCA - Director



M A Poole FCA - Director


Hamstead Hall Limited (Registered number: 07199802)

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

1. STATUTORY INFORMATION

Hamstead Hall 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.

Going Concern
The financial statements have been prepared on the going concern basis. Current liabilities exceed current assets by £207,000. Current liabilities include an amount of £528,000 due to Hamstead Campus Limited, the immediate parent company. This loan is interest free, repayable on demand and is long term funding for the company that enabled the company to purchase the investment properties that it owns. The company has a net asset value of £1,503,000 reported at the balance sheet date. The directors consider the possibility of Hamstead Campus Limited requiring repayment of the loan of £528,000 within 12 months from the date of approval of these financial statements to be remote and accordingly the directors of the company, the majority of whom are directors of all group companies within the group headed by Evenbrook Capital Partners Limited, which includes the company and its parent, are satisfied that these financial statements should be prepared on the going concern basis as they expect the company to continue in operational existence for the foreseeable future.

Hamstead Hall Limited (Registered number: 07199802)

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

2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for income and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Management does not consider there to be judgements made on matters considered material (apart from those involving estimates) that have had an effect on amounts recognised in the financial statements this year.

The following are the company's key sources of estimation uncertainty:

Revaluation of investment properties
The company carries its investment properties at fair value, with changes in fair value being recognised in profit or loss. The directors, two of whom are Chartered Surveyors, review the carrying values of investment properties at each year end. The valuation of investment properties focuses on the estimated yield (expressed as the gross rent per annum passing at the year end date divided by the carrying value of the property) considered to be appropriate to the type and condition of the property in light of extant market conditions having regard also to its vacant possession value. The determined fair value of the investment property is most sensitive to the estimated yield. Further information on the determination of the fair value of investment properties is given in the notes to the financial statements.


Taxation
The company establishes provisions based on reasonable estimates and these are subject to the potential consequences of enquiries by the tax authorities. The amount of such provisions is based on various factors such as experience and the impact of potentially differing interpretations of tax legislation and practice regulations by the company and the tax authorities. Management estimation is required to determine the amount of deferred tax that should be recognised at any time having regard to fair value and other factors.

Turnover
Turnover represents net rents receivable and related income.

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 - between 10% and 33% per annum on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate gain or loss arising from changes in fair value is recognised in the income statement. FRS 102 requires valuation at fair value unless fair value cannot be obtained without undue cost or effort. Deferred taxation is provided on these gains where applicable at the rate expected to apply when the property is sold.

Hamstead Hall Limited (Registered number: 07199802)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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. Group relief received or provided is recognised at 100% of relevant tax losses.

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 NIL (2022 - NIL).

Hamstead Hall Limited (Registered number: 07199802)

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

4. TANGIBLE FIXED ASSETS
Assets in
the Fixtures
course of and
construction fittings Totals
£    £    £   
COST
At 1 April 2022 94,632 20,950 115,582
Additions 355,710 18,362 374,072
At 31 March 2023 450,342 39,312 489,654
DEPRECIATION
At 1 April 2022 - 16,505 16,505
Charge for year - 2,717 2,717
At 31 March 2023 - 19,222 19,222
NET BOOK VALUE
At 31 March 2023 450,342 20,090 470,432
At 31 March 2022 94,632 4,445 99,077

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,524,470
NET BOOK VALUE
At 31 March 2023 1,524,470
At 31 March 2022 1,524,470

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 1,210,448
Cost 314,022
1,524,470

The investment property was valued in March 2023 by the directors, two of whom are Chartered Surveyors, on the basis of fair value based on the values of investment property owned by the Company and its parent Hamstead Campus Limited in aggregate. The Company has not instructed an agent to carry out an external professional valuation of the Company's investment properties at 31 March 2023.The directors have had regard to a routine valuation for security purposes carried out by the bank's independent valuers during May 2023.

Hamstead Hall Limited (Registered number: 07199802)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 433 1,628
Amounts owed by group undertakings 424,156 432,838
424,589 434,466

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 13,656 687
Amounts owed to group undertakings 528,542 160,439
Other creditors 89,383 112,516
631,581 273,642

8. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 285,000 285,000

Deferred
tax
£   
Balance at 1 April 2022 285,000
Balance at 31 March 2023 285,000

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

At 1 April 2022 573,922 925,448 1,499,370
Profit for the year 3,539 - 3,539
At 31 March 2023 577,461 925,448 1,502,909

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Wendy Davies (Senior Statutory Auditor)
for and on behalf of CKCA Limited

Hamstead Hall Limited (Registered number: 07199802)

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

11. CONTINGENT LIABILITIES

The company has granted an unlimited company guarantee, a legal mortgage over certain properties owned by the company and a debenture over the company's assets as security to a lender to Evenbrook Limited in respect of borrowings of £19,150,000 at 31 March 2023 (2022; £19,150,000) and to Hamstead Campus Limited in respect of borrowings of £12,225,000 at 31 March 2023 (2022; £12,225,000).

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The controlling party is Hamstead Campus Limited.

The directors consider that there is no ultimate controlling party.