Registration number:
Burrington Estates (Commercial) Limited
for the Year Ended 31 December 2023
Burrington Estates (Commercial) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Burrington Estates (Commercial) Limited
Company Information
Directors |
Mr M D Edworthy Mr P N Scantlebury |
Registered office |
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Accountants |
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Burrington Estates (Commercial) Limited
(Registration number: 10017860)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
102 |
102 |
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Share premium reserve |
13,387 |
13,387 |
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Retained earnings |
2,590,607 |
(608,843) |
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Shareholders' funds/(deficit) |
2,604,096 |
(595,354) |
Burrington Estates (Commercial) Limited
(Registration number: 10017860)
Balance Sheet as at 31 December 2023
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:
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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
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Mr M D Edworthy
Director
Burrington Estates (Commercial) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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 using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The 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.
Group accounts not prepared
Going concern
The company has incurred a loss during the year. Whilst the company’s balance sheet shows overall net assets of £2,604,096 (2022 - net liabilities of £595,354), due to continued 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.
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 |
Computer equipment |
25% reducing balance |
Debtors
Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Burrington Estates (Commercial) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Creditors
Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
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.
Dividend Income
Dividend income is recognised on the dividend voucher date providing the right to recieve payment has been established.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Burrington Estates (Commercial) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Computer equipment |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Additions |
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At 31 December 2023 |
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Depreciation |
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At 1 January 2023 |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 January 2023 |
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Provision |
( |
Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Provisions for impairment
The amount of impairment loss included in profit or loss is £266,469 (2022 - £Nil). The impairment loss is included in Amounts written off on investments. This impairment is following the commencement of the subsidiaries plan to wind down activity. In the year this company received a dividend from this subsidiary in excess of the impairment. The impairment results in the carry value being that of the value remaining in the subsidairy after this dividend.
Burrington Estates (Commercial) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
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 |
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2023 |
2022 |
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Subsidiary undertakings |
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Winslade House, Winslade Drive, Clyst St Mary, EX5 1FY UK |
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Winslade House, Winslade Drive, Clyst St Mary, EX5 1FY UK |
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Winslade House, Winslade Drive, Clyst St Mary, EX5 1FY UK |
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Winslade House, Winslade Drive, Clyst St Mary, EX5 1FY UK |
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Subsidiary undertakings |
Burrington Business Park Limited The principal activity of Burrington Business Park Limited is |
Ocean Crescent Limited The principal activity of Ocean Crescent Limited is |
Dean Clarke Estate Limited The principal activity of Dean Clarke Estate Limited is |
The Ship (Derriford) Limited The principal activity of The Ship (Derriford) Limited is |
Burrington Estates (Commercial) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Debtors |
2023 |
2022 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Burrington Estates (Commercial) Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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The bank loan is secured by a fixed and floating charge over all property and undertakings of the group.