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Registration number: 11033064

Burrington Estates Commercial Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Burrington Estates Commercial Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Burrington Estates Commercial Holdings Limited

Company Information

Directors

Mr M D Edworthy

Mr P N Scantlebury

Registered office

Winslade House
Winslade Drive
Clyst St Mary
EX5 1FY

Accountants

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

 

Burrington Estates Commercial Holdings Limited

(Registration number: 11033064)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

200

200

Current assets

 

Debtors

5

2,320,595

2,320,595

Creditors: Amounts falling due within one year

6

(579,660)

(537,847)

Net current assets

 

1,740,935

1,782,748

Net assets

 

1,741,135

1,782,948

Capital and reserves

 

Called up share capital

572

572

Share premium reserve

2,068,157

2,068,157

Retained earnings

(327,594)

(285,781)

Shareholders' funds

 

1,741,135

1,782,948

For the financial 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.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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

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

Mr M D Edworthy

Director

 

Burrington Estates Commercial Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Winslade House
Winslade Drive
Clyst St Mary
EX5 1FY
United Kingdom

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.

Summary of disclosure exemptions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with companies within the group.

Group accounts not prepared

The financial statements contain information about the company as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under the provision of Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated accounts

Going concern

The company has incurred a loss during the year. Whilst the company’s balance sheet shows overall net assets of £1,741,135 (2022 - £1,782,948), due to continued losses and the high cost of debt 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 and Group companies which have provided financial support to the Company will continue to do so, to enable the company to return to profitability or to realise value through the sale of the group’s assets. The Directors have reviewed the position for 12 months from the date that the accounts were approved.

 

Burrington Estates Commercial Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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.

Debtors

Debtors are initially recognised at transaction price and subsequently reviewed for impairment.

Creditors

Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Creditors are classified as current liabilities if the company does not have an
unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investments

2023
£

2022
£

Investments in subsidiaries

200

200

Subsidiaries

£

Fair value

At 1 January 2023

200

At 31 December 2023

200

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:

 

Burrington Estates Commercial Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Burrington Estates (Commercial) Limited

Winslade House, Winslade Drive, Clyst St Mary, Exeter, EX5 1FY

UK

Ordinary

100%

100%

The Ship (Derriford) Limited

Winslade House, Winslade Drive, Clyst St Mary, Exeter, EX5 1FY

UK

Ordinary

54.5%

54.5%

Burrington Business Park Limited

Winslade House, Winslade Drive, Clyst St Mary, Exeter, EX5 1FY

UK

Ordinary

100%

100%

Dean Clarke Estate Limited

Winslade House, Winslade Drive, Clyst St Mary, Exeter, EX5 1FY

UK

Ordinary

100%

100%

Ocean Crescent Limited

Winslade House, Winslade Drive, Clyst St Mary, Exeter, EX5 1FY

UK

Ordinary

100%

100%

Subsidiary undertakings

Burrington Estates (Commercial) Limited

The principal activity of Burrington Estates (Commercial) Limited is that of a holding company.

The Ship (Derriford) Limited

The principal activity of The Ship (Derriford) Limited is the development, letting and operating of owned real estate.

Burrington Business Park Limited

The principal activity of Burrington Business Park Limited is the letting of owned real estate.

Dean Clarke Estate Limited

The principal activity of Dean Clarke Estate Limited is the development and rental of property.

Ocean Crescent Limited

The principal activity of Ocean Crescent Limited is the development and selling of property.

 

Burrington Estates Commercial Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

2023
£

2022
£

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

2,320,023

2,320,023

Other debtors

 

572

572

 

2,320,595

2,320,595

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

568,493

533,078

Accruals and deferred income

 

2,085

-

Other creditors

 

9,082

4,769

 

579,660

537,847

Creditors includes loans which are secured of £568,493 (2022 - £533,078).

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

568,493

533,078