IRIS Accounts Production v23.3.0.418 07199275 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 14.6.23 false true false false true false Auditors Opinion Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure071992752022-03-31071992752023-03-31071992752022-04-012023-03-31071992752021-03-31071992752021-04-012022-03-31071992752022-03-3107199275ns16:EnglandWales2022-04-012023-03-3107199275ns15:PoundSterling2022-04-012023-03-3107199275ns11:Director12022-04-012023-03-3107199275ns11:Director22022-04-012023-03-3107199275ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3107199275ns11:SmallEntities2022-04-012023-03-3107199275ns11:Audited2022-04-012023-03-3107199275ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3107199275ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3107199275ns11:FullAccounts2022-04-012023-03-3107199275ns11:Director32022-04-012023-03-3107199275ns11:Director42022-04-012023-03-3107199275ns11:RegisteredOffice2022-04-012023-03-3107199275ns6:CurrentFinancialInstruments2023-03-3107199275ns6:CurrentFinancialInstruments2022-03-3107199275ns6:Non-currentFinancialInstruments2023-03-3107199275ns6:Non-currentFinancialInstruments2022-03-3107199275ns6:ShareCapital2023-03-3107199275ns6:ShareCapital2022-03-3107199275ns6:RevaluationReserve2023-03-3107199275ns6:RevaluationReserve2022-03-3107199275ns6:RetainedEarningsAccumulatedLosses2023-03-3107199275ns6:RetainedEarningsAccumulatedLosses2022-03-3107199275ns6:PlantMachinery2022-04-012023-03-3107199275ns6:PlantMachinery2022-03-3107199275ns6:PlantMachinery2023-03-3107199275ns6:PlantMachinery2022-03-3107199275ns6:CostValuation2022-03-3107199275ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3107199275ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-3107199275ns6:Secured2023-03-3107199275ns6:Secured2022-03-3107199275ns6:DeferredTaxation2022-03-3107199275ns6:DeferredTaxation2023-03-3107199275ns6:RetainedEarningsAccumulatedLosses2022-03-3107199275ns6:RevaluationReserve2022-03-3107199275ns6:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: 07199275 (England and Wales)















Financial Statements for the Year Ended 31 March 2023

for

Hamstead Campus Limited

Hamstead Campus Limited (Registered number: 07199275)






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


Hamstead Campus Limited

Company Information
for the Year Ended 31 March 2023







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





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





REGISTERED NUMBER: 07199275 (England and Wales)





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

Hamstead Campus Limited (Registered number: 07199275)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,395 15,195
Investments 5 1,499,000 1,499,000
Investment property 6 22,975,530 22,975,530
24,483,925 24,489,725

CURRENT ASSETS
Debtors: amounts falling due within
one year

7

6,293,817

5,802,505
Cash in hand 805,488 587,096
7,099,305 6,389,601
CREDITORS
Amounts falling due within one year 8 540,949 530,614
NET CURRENT ASSETS 6,558,356 5,858,987
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,042,281

30,348,712

CREDITORS
Amounts falling due after more than
one year

9

(12,184,200

)

(12,167,600

)

PROVISIONS FOR LIABILITIES 11 (3,190,000 ) (3,190,000 )
NET ASSETS 15,668,081 14,991,112

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 12 11,767,678 11,767,678
Retained earnings 12 3,900,402 3,223,433
SHAREHOLDERS' FUNDS 15,668,081 14,991,112

Hamstead Campus Limited (Registered number: 07199275)

Balance Sheet - 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 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 Campus Limited (Registered number: 07199275)

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

1. STATUTORY INFORMATION

Hamstead Campus 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.

Preparation of consolidated financial statements
The financial statements contain information about Hamstead Campus 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.

Related party exemption
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.

Hamstead Campus Limited (Registered number: 07199275)

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 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.
Plant and machinery etc - between 10% and 33% per annum on cost

Investments in subsidiaries
The company's investment in the shares of its subsidiary undertaking is stated at fair value on a basis which takes into account the fair value of investment property held by the subsidiary undertaking.

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 Campus Limited (Registered number: 07199275)

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 15 (2022 - 17 ) .

Hamstead Campus Limited (Registered number: 07199275)

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 330,538
Additions 1,673
At 31 March 2023 332,211
DEPRECIATION
At 1 April 2022 315,343
Charge for year 7,473
At 31 March 2023 322,816
NET BOOK VALUE
At 31 March 2023 9,395
At 31 March 2022 15,195

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 April 2022
and 31 March 2023 1,499,000
NET BOOK VALUE
At 31 March 2023 1,499,000
At 31 March 2022 1,499,000

Cost or valuation at 31 March 2023 is represented by:

Shares in
group
undertakings
£   
Valuation in 2023 1,498,999
Cost 1
1,499,000

The company owns 100% of the ordinary share capital of Hamstead Hall Limited.

Hamstead Campus Limited (Registered number: 07199275)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 22,975,530
NET BOOK VALUE
At 31 March 2023 22,975,530
At 31 March 2022 22,975,530

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 13,459,388
Cost 9,516,142
22,975,530

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 subsidiary undertaking Hamstead Hall Limited in aggregate. The Company did not instruct 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.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 2,070 3,310
Amounts owed by group undertakings 6,281,750 5,796,731
Other debtors 9,997 2,464
6,293,817 5,802,505

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 11,190 4,771
Other creditors 529,759 525,843
540,949 530,614

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 12,184,200 12,167,600

Hamstead Campus Limited (Registered number: 07199275)

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

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 12,184,200 12,167,600

11. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 3,190,000 3,190,000

Deferred
tax
£   
Balance at 1 April 2022 3,190,000
Balance at 31 March 2023 3,190,000

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

At 1 April 2022 3,223,433 11,767,678 14,991,111
Profit for the year 676,969 - 676,969
At 31 March 2023 3,900,402 11,767,678 15,668,080

13. 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

14. CONTINGENT LIABILITIES

The company has granted a debenture over all its assets, a legal mortgage over its properties and a guarantee as security to a lender to Evenbrook Limited in respect of borrowings by that company of £19,150,000 at 31 March 2023 (2022; £19,150,000).

Other group companies have provided security in respect of the company's borrowings as disclosed in the financial statements of Evenbrook Estates Limited, Hamstead Hall Limited, Evenbrook Properties 2 Limited and Evenbrook Limited.

Hamstead Campus Limited (Registered number: 07199275)

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

15. RELATED PARTY DISCLOSURES

CA Butterfield and the Executors of JR Coles each have personal guarantees of £600,000 outstanding to a lender to the company.

16. ULTIMATE CONTROLLING PARTY

The controlling party is Evenbrook Group Limited.

The directors consider that there is no ultimate controlling party.