Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The principal activity of the company continued to be that of a holding company. The principal activities of the group continued to be that of general property development, investment, management and trading040741274The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true4false2022-04-01true 04074127 2022-04-01 2023-03-31 04074127 2021-04-01 2022-03-31 04074127 2023-03-31 04074127 2022-03-31 04074127 c:Director1 2022-04-01 2023-03-31 04074127 d:CurrentFinancialInstruments 2023-03-31 04074127 d:CurrentFinancialInstruments 2022-03-31 04074127 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04074127 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04074127 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04074127 c:OrdinaryShareClass1 2023-03-31 04074127 c:FRS102 2022-04-01 2023-03-31 04074127 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04074127 c:FullAccounts 2022-04-01 2023-03-31 04074127 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04074127 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 04074127














ELDINGTON HOLDINGS LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
ELDINGTON HOLDINGS LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 6


 
ELDINGTON HOLDINGS LIMITED
REGISTERED NUMBER:04074127

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
7,854,711
7,854,711

  
7,854,711
7,854,711

Current assets
  

Debtors: amounts falling due within one year
 5 
3,226,817
2,888,930

Cash at bank and in hand
 6 
1
1,254

  
3,226,818
2,890,184

Creditors: amounts falling due within one year
 7 
(9,802,110)
(10,312,713)

Net current liabilities
  
 
 
(6,575,292)
 
 
(7,422,529)

Total assets less current liabilities
  
1,279,419
432,182

Net assets
  
1,279,419
432,182


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
1,279,417
432,180

  
1,279,419
432,182


1

 
ELDINGTON HOLDINGS LIMITED
REGISTERED NUMBER:04074127
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 December 2023.



G A Lee
Director

The notes on pages 3 to 6 form part of these financial statements.

2

 
ELDINGTON HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The principal activity of the company continued to be that of a holding company. The principal activities of the group continued to be that of general property development, investment, management and trading
The company is a private company limited by shares and is registered in England and Wales. The address of its registered office and its principal place of business is Grove Lodge, 287 Regents Park Road, London, N3 3JY. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company is the parent undertaking of a small group and as such is not required by the Company Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.
The company's functional and presentational currency is pound sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover comprises:
Gross rental income receivable from investment properties;
The value of development work in progress sold; and
Fees from management of properties. 

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
 
  
2.3

Interest income

Interest income is recognised in the profit and loss account using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

3

 
ELDINGTON HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.10

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

 Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
7,854,711



At 31 March 2023
7,854,711




4

 
ELDINGTON HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
3,200,917
2,863,030

Other debtors
25,900
25,900

3,226,817
2,888,930



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1
1,254

Less: bank overdrafts
(8,991)
-

(8,990)
1,254



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
8,991
-

Bank loans
4,700,000
4,695,300

Amounts owed to group undertakings
2,174,231
2,625,750

Other creditors
2,918,888
2,991,663

9,802,110
10,312,713


Bank loans and overdrafts are secured by a fixed and floating charge over the assets of the group.

The bank loan is secured by the first legal mortgage charge over the freehold property and by a capital guarantee from a company under common control of £150,000.

At 31 March 2023, the contingent liability, for which the company is jointly and severally liable, in respect of the intercompany unlimited cross guarantee, amounted to £323,966 (2022 - £518,682).

There are cross guarantees between the following companies, of which G A Lee is a director:

Kerrington Property Services Limited, Eldington Holdings Limited, Kerrington (Grove Lodge) Limited, Kerrington Limited, Vista Estates Ltd, Fletcher Gate Limited, Hilby Limited and Kerrington Growth Limited.

5

 
ELDINGTON HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
4,700,000
4,695,300






9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 Ordinary shares of £1.00 each
2
2


There are no restrictions on the distribution of dividends and the repayment of capital.



10.


Related party transactions

No disclosure has been made of transactions with wholly owned group companies in accordance with FRS102 Section 1A paragraph 1AC.35.

During the year, the company recharged £242,694 (2022 - £131,041) to Hilby Limited, a subsidiary company, in respect of bank loan arrangement fees and bank interest. At the year end, the company owed £1,299,837 (2022 - £1,181,085) to Hilby Limited.

At the year end, the company was owed £154,553 (2022 - £154,553) by Newark Property Development Limited, a subsidiary company.

At the year end, the company was owed £84,679 (2022 - £124,679) by Finchley Road Properties Limited, a subsidiary company.

During the year, the company paid £4,815 (2022 - £19,070 received from) to Islandpost Limited, a subsidiary company. At the year end, the company owed £4,815 (2022 - £NIL) to Islandpost Limited.

At the year end, the company owed £3,750 (2022 - £3,750) to Total Health Limited, a subsidiary company.

Kerrington Limited owns 50% of the issued share capital of the above companies. The loan amounts are interest free and repayable on demand.

During the year, the company made recharges of £240,000 (2022 - £240,000) to Kerrington Limited and received loan repayments of £38,100 (2022 - £143,602). At the year end, the company was owed £2,961,685 (2022 - £2,583,799) by Kerrington Limited.

At the year end, the company owed £2,596,091 (2022 - £2,668,867 ) to G A Lee, a director.

At the year end, the company owed £317,713 (2022 - £317,713) to E J Lee, a director.

 
6