2 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2021 - FRS102_2021 381,921 277,455 104,466 104,466 xbrli:pure xbrli:shares iso4217:GBP 03746087 2022-07-01 2023-06-30 03746087 2023-06-30 03746087 2022-06-30 03746087 2021-07-01 2022-06-30 03746087 2022-06-30 03746087 core:LandBuildings core:LongLeaseholdAssets 2022-07-01 2023-06-30 03746087 core:PlantMachinery 2022-07-01 2023-06-30 03746087 core:MotorVehicles 2022-07-01 2023-06-30 03746087 bus:Director4 2022-07-01 2023-06-30 03746087 core:LandBuildings core:LongLeaseholdAssets 2022-06-30 03746087 core:LandBuildings core:ShortLeaseholdAssets 2022-06-30 03746087 core:PlantMachinery 2022-06-30 03746087 core:MotorVehicles 2022-06-30 03746087 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 03746087 core:LandBuildings core:ShortLeaseholdAssets 2023-06-30 03746087 core:PlantMachinery 2023-06-30 03746087 core:MotorVehicles 2023-06-30 03746087 core:WithinOneYear 2023-06-30 03746087 core:WithinOneYear 2022-06-30 03746087 core:ShareCapital 2023-06-30 03746087 core:ShareCapital 2022-06-30 03746087 core:RevaluationReserve 2023-06-30 03746087 core:RevaluationReserve 2022-06-30 03746087 core:RetainedEarningsAccumulatedLosses 2023-06-30 03746087 core:RetainedEarningsAccumulatedLosses 2022-06-30 03746087 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 03746087 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-06-30 03746087 core:Non-currentFinancialInstruments 2023-06-30 03746087 core:Non-currentFinancialInstruments 2022-06-30 03746087 core:LandBuildings core:LongLeaseholdAssets 2022-06-30 03746087 core:LandBuildings core:ShortLeaseholdAssets 2022-06-30 03746087 core:PlantMachinery 2022-06-30 03746087 core:MotorVehicles 2022-06-30 03746087 bus:SmallEntities 2022-07-01 2023-06-30 03746087 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 03746087 bus:FullAccounts 2022-07-01 2023-06-30 03746087 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 03746087 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03746087 core:JointVenture1 2023-06-30
COMPANY REGISTRATION NUMBER: 03746087
Hartham Park Estates Limited
Filleted Unaudited Financial Statements
30 June 2023
Hartham Park Estates Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
2,333,934
2,352,704
Investments
6
104,466
104,466
------------
------------
2,438,400
2,457,170
Current assets
Debtors
7
697,583
676,927
Cash at bank and in hand
2,176
1,575
---------
---------
699,759
678,502
Creditors: amounts falling due within one year
8
( 4,654,000)
( 4,605,093)
------------
------------
Net current liabilities
( 3,954,241)
( 3,926,591)
------------
------------
Total assets less current liabilities
( 1,515,841)
( 1,469,421)
Provisions
Taxation including deferred tax
( 143,150)
( 143,150)
------------
------------
Net liabilities
( 1,658,991)
( 1,612,571)
------------
------------
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
988,948
988,948
Profit and loss account
( 2,648,939)
( 2,602,519)
------------
------------
Shareholders deficit
( 1,658,991)
( 1,612,571)
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hartham Park Estates Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 21 February 2024 , and are signed on behalf of the board by:
S Brittan
Director
Company registration number: 03746087
Hartham Park Estates Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is C/O Ymu Business Management Ltd, 180 Great Portland Street, London, W1W 5QZ, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date the company had net liabilities of £1,658,991 (2022: £1,612,571). In the opinion of the directors the going concern basis is appropriate to the company as the other group companies will ensure that adequate finance will continue to be available for a minimum of 12 months from the date of approval of the accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Income from sale of timber is recognised when the timber is dispatched. Income from sporting and shooting are recognised when the events take place. Grant income is recognised when received.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property Improvements
-
2% straight line
Plant & Machinery
-
20% straight line
Motor Vehicles
-
20% straight line
Land and shooting rights are not depreciated and are shown at fair value. The directors carry out an annual impairment review of shooting rights, as due to their nature it is not possible to attribute a useful economic life. The estimated residual value is not deemed to be less than the carrying value.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contract actual arrangement, as either financial assets, financial liabilities or equity instruments of the company after deducting all of its liabilities
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Freehold & Improvements to property
Land and shooting rights
Plant and machinery
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2022
889,466
2,000,000
47,247
45,786
2,982,499
Additions
3,480
705
4,185
---------
------------
--------
--------
------------
At 30 June 2023
892,946
2,000,000
47,952
45,786
2,986,684
---------
------------
--------
--------
------------
Depreciation
At 1 July 2022
544,355
44,368
41,072
629,795
Charge for the year
17,830
1,085
4,040
22,955
---------
------------
--------
--------
------------
At 30 June 2023
562,185
45,453
45,112
652,750
---------
------------
--------
--------
------------
Carrying amount
At 30 June 2023
330,761
2,000,000
2,499
674
2,333,934
---------
------------
--------
--------
------------
At 30 June 2022
345,111
2,000,000
2,879
4,714
2,352,704
---------
------------
--------
--------
------------
Tangible assets held at valuation
Land and shooting rights are included at fair value on the basis of a professional valuation. The last market valuation was in April 2016 by Savills. In the opinion of the directors the fair value of the land and shooting rights at 30 June 2023 is still £2,000,000. The historical cost is £870,052 .
6. Investments
Joint venture
£
Cost
At 1 July 2022 and 30 June 2023
381,921
---------
Impairment
At 1 July 2022 and 30 June 2023
277,455
---------
Carrying amount
At 30 June 2023
104,466
---------
At 30 June 2022
104,466
---------
7. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
693,052
672,977
Other debtors
4,531
3,950
---------
---------
697,583
676,927
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
450,000
Trade creditors
6,092
6,156
Amounts owed to group undertakings and undertakings in which the company has a participating interest
4,644,807
4,145,707
Social security and other taxes
941
979
Other creditors
2,160
2,251
------------
------------
4,654,000
4,605,093
------------
------------
On 26th April 2016, Arbuthnot Latham & Co Limited issued a fixed and floating charge, containing a negative pledge, to cover all the property and undertakings of the company registered under title numbers WT264083, WT184448 and WT280392.
On 26th April 2016, Arbuthnot Latham & Co Limited issued a fixed and floating charge, containing a negative pledge, over the property known as Weavern Barn, Weavern Lane, Biddestone, Chippenham.
On 26th April 2016, Arbuthnot Latham & Co Limited issued a fixed and floating charge, containing a negative pledge, over 185.25 acres of woodland at Hartham Park, Corsham, Wiltshire registered under title number WT1B444BY and all freehold profit relating to sporting rights affecting the land on the west side of Hartham Lane.
In addition to the above, the bank loan is also secured by way of personal guarantee given by a director of the company.
9. Contingencies
The company has a 50% interest in a joint venture, Hartham Euridge Sports LLP. The company is entitled to 50% of the LLP's profits but losses are not automatically distributed to the members. The company's share of the LLP's loss has not been recognised in the financial statements. The LLP has made losses of £151,738 for the period ended 31 March 2023 (2022: Loss £106,765).
10. Related party transactions
The company has taken advantage of the exemption available not to disclose transactions with other group companies which are 100% owned within the group. During the period costs payments made on behalf of Joint venture were £86,985 (2022: £106,245) and net funds of £66,910 (2022: £nil) were advanced from the joint venture. At 30 June 2023 £ 693,052 (2022: £672,977) was due from the joint venture. This loan is interest free.