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REGISTERED NUMBER: 09915873 (England and Wales)















EAGLE CREST (DERBY) LTD

Unaudited Financial Statements

for the Year Ended 31 December 2023






EAGLE CREST (DERBY) LTD (REGISTERED NUMBER: 09915873)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EAGLE CREST (DERBY) LTD

Company Information
for the year ended 31 December 2023







Directors: A A Marshall
S Marks





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 09915873 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

EAGLE CREST (DERBY) LTD (REGISTERED NUMBER: 09915873)

Balance Sheet
31 December 2023

2023 2022
Notes £ £
Fixed assets
Investment property 4 4,530,000 5,490,000

Current assets
Debtors 5 1,065,409 541,680
Cash at bank 1,107,292 2,348,004
2,172,701 2,889,684
Creditors
Amounts falling due within one year 6 (2,338,840 ) (2,631,353 )
Net current (liabilities)/assets (166,139 ) 258,331
Total assets less current liabilities 4,363,861 5,748,331

Creditors
Amounts falling due after more than one
year

7

(3,548,391

)

(4,123,012

)

Provisions for liabilities 8 (175,000 ) (415,000 )
Net assets 640,470 1,210,319

Capital and reserves
Called up share capital 9 200 200
Retained earnings 10 640,270 1,210,119
Shareholders' funds 640,470 1,210,319

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

EAGLE CREST (DERBY) LTD (REGISTERED NUMBER: 09915873)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





S Marks - Director


EAGLE CREST (DERBY) LTD (REGISTERED NUMBER: 09915873)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

Eagle Crest (Derby) Ltd 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.

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.

Going Concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has confirmed continued support of the company and the accounts have been prepared on a going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises revenue recognised by the company in respect of rents receivable.

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.

Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


EAGLE CREST (DERBY) LTD (REGISTERED NUMBER: 09915873)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. Accounting policies - continued

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognized in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2022 - 1 ) .

EAGLE CREST (DERBY) LTD (REGISTERED NUMBER: 09915873)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Investment property
Total
£
Fair value
At 1 January 2023 5,490,000
Revaluations (960,000 )
At 31 December 2023 4,530,000
Net book value
At 31 December 2023 4,530,000
At 31 December 2022 5,490,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out on 6th of March 2023 by Jones Lang LaSalle Limited , who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The director does not believe there to be a material difference from the year end to the valuation date and has therefore used the most recent valuation as the property fair value at the year end date.

5. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 30,148 30,148
Due from connected companies 855,225 357,070
Other debtors 180,036 154,462
1,065,409 541,680

6. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 210,453 617,349
Trade creditors 92,219 9,199
Due to connected companies 1,862,072 1,858,208
Taxation and social security 82,515 63,498
Other creditors 91,581 83,099
2,338,840 2,631,353

7. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 3,548,391 4,123,012

EAGLE CREST (DERBY) LTD (REGISTERED NUMBER: 09915873)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


7. Creditors: amounts falling due after more than one year - continued

The company is under common control with the following companies: Eagle Crest (Sunderland) Limited, Eagle Crest (Folkestone) Limited, Eagle Crest (Maidstone) Limited, Eagle Crest (Portsmouth) Limited, Eagle Crest (Wolverhampton) Limited, Eagle Crest (Worcester) Limited.

The companies are jointly and severally liable for a bank loan which at the year end stood at £7,144,292. This loan has been apportioned to each company and a loan value of £3,758,844 has been accorded to Eagle Crest (Derby) Limited.

On 13 April 2016 N M Rothschild & Sons Limited placed fixed charge, floating charge and negative pledge over the freehold property known as 34 queen square, wolverhampton WV1 1TL. Floating charge covers all the property or undertaking of the company.

On 20 July 2016 N M Rothschild & Sons Limited (As Security Agent) placed fixed charge and negative pledge, which were outstanding at the year end.

8. Provisions for liabilities
2023 2022
£ £
Deferred tax 175,000 415,000

Deferred tax
£
Balance at 1 January 2023 415,000
Provided during year (240,000 )
Balance at 31 December 2023 175,000

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
200 Ordinary shares £1 200 200

10. Reserves
Retained
earnings
£

At 1 January 2023 1,210,119
Deficit for the year (569,849 )
At 31 December 2023 640,270

EAGLE CREST (DERBY) LTD (REGISTERED NUMBER: 09915873)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


11. Related party disclosures

The company at the year end date owed £1,862,069 (2022:£1,858,208) collectively to the following companies under common control: Eagle Crest (Consent) Limited, Eagle Crest (Portsmouth) Limited, Eagle Crest (Maidstone) Limited, Eagle Crest (Sunderland) Limited, Eagle Crest (Wolverhampton) Limited and Eagle Crest (Derby) Limited.

Also at the year end date, the company was owed £855,225 (2022: £357,069) collectively from the following companies under common control: Eagle Crest (Consent) Limited, Eagle Crest (Portsmouth) Limited, Eagle Crest (Maidstone) Limited, Eagle Crest (Sunderland) Limited, Eagle Crest (Wolverhampton) Limited and Eagle Crest (Derby) Limited.