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REGISTERED NUMBER: 00384922 (England and Wales)















BURROUGH COURT ESTATE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






BURROUGH COURT ESTATE LIMITED (REGISTERED NUMBER: 00384922)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


BURROUGH COURT ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: A C Keene
Mrs D E Wilson
R I Wilson
Miss R A Wilson
T R K Wilson





SECRETARY: Mrs D E Wilson





REGISTERED OFFICE: 14 All Saints Street
Stamford
Lincolnshire
PE9 2PA





REGISTERED NUMBER: 00384922 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 All Saints Street
Stamford
Lincolnshire
PE9 2PA

BURROUGH COURT ESTATE LIMITED (REGISTERED NUMBER: 00384922)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,820 2,775
Tangible assets 5 9,702,076 7,238,573
Investment property 6 7,100,000 3,668,163
16,803,896 10,909,511

CURRENT ASSETS
Stocks 225,329 181,968
Debtors 7 1,280,950 2,085,721
Cash at bank 64,564 50,528
1,570,843 2,318,217
CREDITORS
Amounts falling due within one year 8 1,183,258 1,115,645
NET CURRENT ASSETS 387,585 1,202,572
TOTAL ASSETS LESS CURRENT LIABILITIES 17,191,481 12,112,083

CREDITORS
Amounts falling due after more than one year 9 (1,680,277 ) (1,769,481 )

PROVISIONS FOR LIABILITIES (1,826,118 ) (580,000 )
NET ASSETS 13,685,086 9,762,602

CAPITAL AND RESERVES
Called up share capital 11 8,972 8,972
Share premium 556,080 556,080
Revaluation reserve 12 6,287,239 4,959,828
Other reserves 3,796,844 1,163,469
Retained earnings 3,035,951 3,074,253
SHAREHOLDERS' FUNDS 13,685,086 9,762,602

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

BURROUGH COURT ESTATE LIMITED (REGISTERED NUMBER: 00384922)

STATEMENT OF FINANCIAL POSITION - continued
30 SEPTEMBER 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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 February 2024 and were signed on its behalf by:





Mrs D E Wilson - Director


BURROUGH COURT ESTATE LIMITED (REGISTERED NUMBER: 00384922)

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

1. STATUTORY INFORMATION

Burrough Court Estate 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. 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.

Turnover
Turnover represents net invoiced sales of produce, rents receivable and the basic farm payment, all excluding value added tax.

Sales of produce are recognised upon despatch of goods. Rents receivable are recognised in the period to which they relate. The basic farm payment is recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

Intangible assets
Intangible assets consist of website cost development. The asset is recognised at fair value and written off on a 33% straight line basis.

Tangible fixed assets
No depreciation has been provided for freehold buildings. It is the company's policy to maintain its properties in a continual state of sound repair. In the case of freehold buildings, the directors consider that the lives of these buildings and their residual value are such that their depreciation is not significant.

The directors have adopted a revaluation policy for freehold property as set out in note 5.

Depreciation rates on fixtures and fittings vary from 10% to 33% on a straight line or reducing balance basis depending on the useful economic life of the asset.

Motor Vehicles are depreciated on a 25% reducing balance basis.

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.

Stocks
The stock valuation has been prepared by Fisher German, Chartered Surveyors, and is stated at the lower of cost and fair value less costs to complete and sell after making due allowance for obsolete and slow moving items. In respect of crops in store, deemed cost has been used for valuation purposes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 statement of financial position date.


BURROUGH COURT ESTATE LIMITED (REGISTERED NUMBER: 00384922)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the directors. It also operates a group money purchase pension scheme for employees. The assets of these schemes are held separately from those of the company in independently administered funds. Contributions payable for the period are charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

4. INTANGIBLE FIXED ASSETS
Entitlements Website Totals
£    £    £   
COST
At 1 October 2022
and 30 September 2023 72,381 2,865 75,246
AMORTISATION
At 1 October 2022 72,381 90 72,471
Amortisation for year - 955 955
At 30 September 2023 72,381 1,045 73,426
NET BOOK VALUE
At 30 September 2023 - 1,820 1,820
At 30 September 2022 - 2,775 2,775

BURROUGH COURT ESTATE LIMITED (REGISTERED NUMBER: 00384922)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2022 7,095,483 500,871 34,995 7,631,349
Additions 570,106 112,064 - 682,170
Disposals - - (24,995 ) (24,995 )
Revaluations 1,834,411 - - 1,834,411
At 30 September 2023 9,500,000 612,935 10,000 10,122,935
DEPRECIATION
At 1 October 2022 - 370,240 22,536 392,776
Charge for year - 46,557 3,020 49,577
Eliminated on disposal - - (21,494 ) (21,494 )
At 30 September 2023 - 416,797 4,062 420,859
NET BOOK VALUE
At 30 September 2023 9,500,000 196,138 5,938 9,702,076
At 30 September 2022 7,095,483 130,631 12,459 7,238,573

Cost or valuation at 30 September 2023 is represented by:

Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
Valuation in 2017 5,539,828 - - 5,539,828
Valuation in 2023 1,834,411 - - 1,834,411
Cost 2,125,761 612,935 10,000 2,748,696
9,500,000 612,935 10,000 10,122,935

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,125,761 1,665,844
Aggregate depreciation 110,189 110,189

Freehold property was valued on an open market basis on 30 September 2023 by the directors .

BURROUGH COURT ESTATE LIMITED (REGISTERED NUMBER: 00384922)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 3,668,163
Additions 59,344
Revaluations 3,372,493
At 30 September 2023 7,100,000
NET BOOK VALUE
At 30 September 2023 7,100,000
At 30 September 2022 3,668,163

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2017 1,163,469
Valuation in 2023 3,372,493
Cost 2,564,038
7,100,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,564,038 2,471,906

Investment property was valued on an open market basis on 30 September 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 177,244 381,835
Other debtors 1,103,706 1,703,886
1,280,950 2,085,721

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 726,828 569,847
Trade creditors 140,691 115,983
Taxation and social security 13,983 8,224
Other creditors 301,756 421,591
1,183,258 1,115,645

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 1,480,277 1,569,481
Other creditors 200,000 200,000
1,680,277 1,769,481

BURROUGH COURT ESTATE LIMITED (REGISTERED NUMBER: 00384922)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loan > 5 years 1,023,538 1,189,822

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 620,591 480,318
Bank loans 1,586,514 1,659,010
2,207,105 2,139,328

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
8,972 Ordinary £1 8,972 8,972

12. RESERVES

RevaluationOther
reservereserves
££
At 1 October 20224,959,8281,163,469
Transfer(2,633,375)-
Revaluation1,834,4113,372,493
Deferred tax(498,000)(739,118)
At 30 September 20233,662,8643,796,844

The aggregate surplus on re-measurement of freehold properties and investment properties net of associated deferred tax is transferred to a separate non-distributable revaluation reserve and other reserves respectively in order to assist with the identification of profits available for distribution.