Earlsgate Hampshire Limited 13491176 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of buying and selling of own real estate. Digita Accounts Production Advanced 6.30.9574.0 true true 13491176 2023-04-01 2024-03-31 13491176 2024-03-31 13491176 core:RetainedEarningsAccumulatedLosses 2024-03-31 13491176 core:ShareCapital 2024-03-31 13491176 core:CurrentFinancialInstruments 2024-03-31 13491176 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 13491176 bus:SmallEntities 2023-04-01 2024-03-31 13491176 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13491176 bus:FullAccounts 2023-04-01 2024-03-31 13491176 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13491176 bus:RegisteredOffice 2023-04-01 2024-03-31 13491176 bus:Director1 2023-04-01 2024-03-31 13491176 bus:Director2 2023-04-01 2024-03-31 13491176 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13491176 countries:UnitedKingdom 2023-04-01 2024-03-31 13491176 2022-04-01 2023-03-31 13491176 2023-03-31 13491176 core:RetainedEarningsAccumulatedLosses 2023-03-31 13491176 core:ShareCapital 2023-03-31 13491176 core:CurrentFinancialInstruments 2023-03-31 13491176 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Earlsgate Hampshire Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2024

Registration number: 13491176

 

Earlsgate Hampshire Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

Earlsgate Hampshire Limited

Company Information

Directors

Mr A J A Dunn

Mr N D Parker

Registered office

The Estate Office Wield Park
Upper Wield Park
Upper Wield
Nr Alresford
Hampshire
SO24 9FX

Accountants

Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire
SP3 4UF

 

Earlsgate Hampshire Limited

Balance Sheet

31 March 2024

Note

2024
£

2023
£

Current assets

 

Stocks

10,038,556

6,555,948

Debtors

4

210,087

63,604

Cash at bank and in hand

 

56,441

85,017

 

10,305,084

6,704,569

Creditors: Amounts falling due within one year

5

(12,126,852)

(7,312,990)

Net liabilities

 

(1,821,768)

(608,421)

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(1,821,868)

(608,521)

Shareholders' deficit

 

(1,821,768)

(608,421)

 

Earlsgate Hampshire Limited

Balance Sheet

31 March 2024

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 August 2024 and signed on its behalf by:
 

.........................................
Mr N D Parker
Director

Company Registration Number: 13491176

 

Earlsgate Hampshire Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Estate Office Wield Park
Upper Wield Park
Upper Wield
Nr Alresford
Hampshire
SO24 9FX

These financial statements were authorised for issue by the Board on 2 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company is and will continue to be suported by the directors and a loan from Thornwood Group Holdings Limited of which a market rate of interest is charged.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Earlsgate Hampshire Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• amounts owed to group; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

 

Earlsgate Hampshire Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 5).

4

Debtors

2024
£

2023
£

Trade debtors

98,323

-

Prepayments

8,563

10,156

Other debtors

103,201

53,448

210,087

63,604

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

11,613,555

7,126,273

Trade creditors

 

167,041

182,088

Other creditors

 

201,636

1,279

Accruals and deferred income

 

144,620

3,350

 

12,126,852

7,312,990

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £4,044,344(2023 - £760,746).

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

4,044,344

760,746

Other borrowings

7,569,211

6,365,527

11,613,555

7,126,273