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REGISTERED NUMBER: 12948928 (England and Wales)









HEMBURY ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






HEMBURY ESTATES LIMITED (REGISTERED NUMBER: 12948928)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HEMBURY ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M L Whitaker
C Whitaker





REGISTERED OFFICE: 27 Mutley Plain
Plymouth
Devon
PL4 6JG





REGISTERED NUMBER: 12948928 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

HEMBURY ESTATES LIMITED (REGISTERED NUMBER: 12948928)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 726,845 474,538

CURRENT ASSETS
Debtors 6 11,693 4,306
Cash at bank 315 12,815
12,008 17,121
CREDITORS
Amounts falling due within one year 7 208,261 141,212
NET CURRENT LIABILITIES (196,253 ) (124,091 )
TOTAL ASSETS LESS CURRENT LIABILITIES 530,592 350,447

CREDITORS
Amounts falling due after more than one year 8 523,023 344,300
NET ASSETS 7,569 6,147

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 7,568 6,146
7,569 6,147

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by:





C Whitaker - Director


HEMBURY ESTATES LIMITED (REGISTERED NUMBER: 12948928)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Hembury 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rental of property.

Turnover is accrued where it relates to the period of the accounts but has not yet been invoiced, or is deferred if it has been invoiced, but relates to a future period.

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.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

HEMBURY ESTATES LIMITED (REGISTERED NUMBER: 12948928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

3. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

Debtors
Debtors comprise simple current financial instruments only, and are carried in the accounts at transaction price less impairment, which is considered to be approximate to fair value.

Creditors
Creditors comprise simple financial instruments only. Current liabilities are carried in the accounts at transaction price, which is considered to approximate to fair value. Bank loans and other similar financial liabilities are measured initially at fair value net of transaction cost, and are subsequently measured at amortised cost, using the effective interest rate method

4. EMPLOYEES AND DIRECTORS

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

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 474,538
Additions 252,307
At 30 June 2023 726,845
NET BOOK VALUE
At 30 June 2023 726,845
At 30 June 2022 474,538

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 11,467 -
Other debtors 226 4,306
11,693 4,306

HEMBURY ESTATES LIMITED (REGISTERED NUMBER: 12948928)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 387 -
Amounts owed to group undertakings 203,374 139,632
Taxation and social security 4,500 1,580
208,261 141,212

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 523,023 344,300

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 523,023 344,300

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 523,023 344,300

There is a fixed charge and negative pledge in place over the property assets which have been financed, which are included within investment property.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Whitaker Holdings Limited, which holds 100% of the issued share capital of the company, and the ultimate controlling party is Mr Chris Whitaker.