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Registered number: 08701817
Darlton Hall Estates Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Unaudited Financial Statements
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountant's Report
Report to the director on the preparation of the unaudited statutory accounts of Darlton Hall Estates Ltd for the year ended 31 December 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Darlton Hall Estates Ltd which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the director of Darlton Hall Estates Ltd , as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Darlton Hall Estates Ltd and state those matters that we have agreed to state to the director of Darlton Hall Estates Ltd , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Darlton Hall Estates Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Darlton Hall Estates Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Darlton Hall Estates Ltd . You consider that Darlton Hall Estates Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Darlton Hall Estates Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
14/09/2024
MPU Associates Limited
2 Water Street
Stamford
Lincs
PE9 2NJ
Page 1
Page 2
Balance Sheet
Registered number: 08701817
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 206,842 234,968
Investment Properties 5 1,431,959 1,351,514
Investments 6 4,861 4,861
1,643,662 1,591,343
CURRENT ASSETS
Debtors 7 7,900,299 6,114,763
Cash at bank and in hand 14,461 75,035
7,914,760 6,189,798
Creditors: Amounts Falling Due Within One Year 8 (7,828,160 ) (5,864,476 )
NET CURRENT ASSETS (LIABILITIES) 86,600 325,322
TOTAL ASSETS LESS CURRENT LIABILITIES 1,730,262 1,916,665
PROVISIONS FOR LIABILITIES
Deferred Taxation (440,000 ) (440,000 )
NET ASSETS 1,290,262 1,476,665
CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 174,456 174,456
Profit and Loss Account 1,115,804 1,302,207
SHAREHOLDERS' FUNDS 1,290,262 1,476,665
Page 2
Page 3
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
A R Turner
Director
14/09/2024
The notes on pages 4 to 6 form part of these financial statements.
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Page 4
Notes to the Financial Statements
1. General Information
Darlton Hall Estates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08701817 . The registered office is Arnescote Farm, Stapleford Road, Whissendine, Rutland, LE15 7HF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight line over 2 - 5 years
Motor Vehicles Straight line over 5 years
Fixtures & Fittings Straight line over 2 - 5 years
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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Page 5
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 61,303 249,150 96,044 406,497
Additions 535 49,374 2,413 52,322
Disposals - (21,000 ) - (21,000 )
As at 31 December 2023 61,838 277,524 98,457 437,819
Depreciation
As at 1 January 2023 41,275 93,208 37,046 171,529
Provided during the period 12,296 28,878 18,274 59,448
As at 31 December 2023 53,571 122,086 55,320 230,977
Net Book Value
As at 31 December 2023 8,267 155,438 43,137 206,842
As at 1 January 2023 20,028 155,942 58,998 234,968
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 1,351,514
Additions 115,343
Disposals (34,898 )
As at 31 December 2023 1,431,959
6. Investments
Subsidiaries
£
Cost
As at 1 January 2023 4,861
As at 31 December 2023 4,861
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 4,861
As at 1 January 2023 4,861
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Page 6
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 26,434 25,449
Prepayments and accrued income 4,385 6,665
Other debtors 1,362,246 1,059,717
VAT 13 8,072
Amounts owed by other participating interests 6,507,221 5,014,860
7,900,299 6,114,763
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 30,741 29,223
Corporation tax (5,856 ) 84,113
Other creditors 206,691 213,026
Accruals and deferred income 7,710 8,136
Director's loan account 6,873,407 4,756,617
Amounts owed to group undertakings 715,467 773,361
7,828,160 5,864,476
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
10. Reserves
Revaluation Reserve
£
As at 1 January 2023 174,456
As at 31 December 2023 174,456
11. Related Party Transactions
Included in the Other Income figure in the statement of profit and loss is an amount of £45,600 relating to management income from Holdco HTS Limited, a subsidiary of Darlton Hall Estates Limited. This amount has been deducted from Amounts owed to the group undertakings shown under creditors due within 1 year.
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