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Registration number: 07776551

Burrington Estates Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

Burrington Estates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Burrington Estates Limited

Company Information

Directors

Mr M D Edworthy

Mr P N Scantlebury

Registered office

c/o Burrington Estates Limited
Winslade House Manor Drive
Clyst St Mary
Exeter
Devon
EX5 1FY

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Burrington Estates Limited

(Registration number: 07776551)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

9,968

96,706

Investments

5

1,708,021

1,708,021

 

1,717,989

1,804,727

Current assets

 

Debtors

6

7,632,000

6,521,809

Cash at bank and in hand

 

4,589

3,311

 

7,636,589

6,525,120

Creditors: Amounts falling due within one year

7

(9,976,843)

(7,606,317)

Net current liabilities

 

(2,340,254)

(1,081,197)

Total assets less current liabilities

 

(622,265)

723,530

Creditors: Amounts falling due after more than one year

7

(25,189)

(104,841)

Provisions for liabilities

-

(18,374)

Net (liabilities)/assets

 

(647,454)

600,315

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(647,456)

600,313

Shareholders' (deficit)/funds

 

(647,454)

600,315

 

Burrington Estates Limited

(Registration number: 07776551)
Balance Sheet as at 31 December 2022

For the financial year ending 31 December 2022 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

.........................................

Mr M D Edworthy

Director

 

Burrington Estates Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
c/o Burrington Estates Limited
Winslade House Manor Drive
Clyst St Mary
Exeter
Devon
EX5 1FY

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Under the provision of section 399 of the companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore, the accounts show information about the company as an individual company.

Group accounts not prepared

Under the provision of Section 399 of the Companies Act 2006, the company is exempt from preparing consolidated accounts and has not done so, the accounts show information about the company as an individual company..

Going concern

As at the year end, the balance sheet shows net current liabilities of £2,340,254 (2021 - £1,081,197). Accordingly, the directors have had to consider the basis upon which the accounts should be prepared and determine whether a going concern basis remains appropriate. The accounts have been prepared on a going concern basis, as the directors continue to provide financial support, when necessary to the company. The directors have reviewed the position for twelve months from the date the accounts were approved and in their opinion, the company will reduce the balance sheet deficiency and will show positive results for the next financial period.

 

Burrington Estates Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

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 sales/value added tax, returns, rebates and discounts.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

20% straight line on cost

Computer equipment

33% on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2021 - 10).

 

Burrington Estates Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

66,229

85,500

151,729

Additions

1,537

-

1,537

Disposals

-

(85,500)

(85,500)

At 31 December 2022

67,766

-

67,766

Depreciation

At 1 January 2022

55,023

-

55,023

Charge for the year

2,775

10,688

13,463

Eliminated on disposal

-

(10,688)

(10,688)

At 31 December 2022

57,798

-

57,798

Carrying amount

At 31 December 2022

9,968

-

9,968

At 31 December 2021

11,206

85,500

96,706

5

Investments

2022
£

2021
£

Investments in subsidiaries

1,708,021

1,708,021

Subsidiaries

£

Cost or valuation

At 1 January 2022

1,708,021

Carrying amount

At 31 December 2022

1,708,021

At 31 December 2021

1,708,021

 

Burrington Estates Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2022

2021

Subsidiary undertakings

Granite Resources Limited

Dean Clarke House, Southernhay East, Exeter, EX1 1AP

England

Ordinary

100%

100%

Cathedral View (Exeter) Limited

Dean Clarke House, Southernhay
Exeter
EX1 1AP

UK

Ordinary

50%

50%

6

Debtors

2022
£

2021
£

Trade debtors

232,737

81,119

Amounts owed by group undertakings and undertakings in which the company has a participating interest

154,869

-

Prepayments

3,248

64,890

Other debtors

7,241,146

6,375,800

7,632,000

6,521,809

 

Burrington Estates Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Loans and borrowings

9,688

9,646

Trade creditors

194,087

7,831

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

591

Taxation and social security

319,643

317,753

Accruals and deferred income

278,448

260,576

Other creditors

9,174,977

7,009,920

9,976,843

7,606,317

8

Related party transactions

At the year end a director owed £25,945 (2021 - The company owed the director £4,745). During the year loans were advanced of £43,190 with repayments of £12,500 made before year end. The remainder of the loan was repaid within 9 months of the year end.