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REGISTERED NUMBER: 02250807 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

COUNTRY ESTATES (HAMPSHIRE) LIMITED

COUNTRY ESTATES (HAMPSHIRE) LIMITED (REGISTERED NUMBER: 02250807)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COUNTRY ESTATES (HAMPSHIRE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G Denton
G P Smith





SECRETARY: P A Pennicott





REGISTERED OFFICE: Kingfisher House
17 Albury Close
Loverock Road
Reading
RG30 1BD





REGISTERED NUMBER: 02250807 (England and Wales)





AUDITORS: Haines Watts, Statutory Auditor
Chartered Accountants
The Lightbox
87 Castle Street
Reading
Berkshire
RG1 7SN

COUNTRY ESTATES (HAMPSHIRE) LIMITED (REGISTERED NUMBER: 02250807)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 5,272 8,285

CURRENT ASSETS
Stocks 5 1,274,100 1,470,138
Debtors 6 1,625,114 1,724,379
Cash at bank 7 683,321 417,898
3,582,535 3,612,415
CREDITORS
Amounts falling due within one year 8 699,582 692,088
NET CURRENT ASSETS 2,882,953 2,920,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,888,225

2,928,612

CREDITORS
Amounts falling due after more than one
year

9

(590,665

)

(908,320

)

PROVISIONS FOR LIABILITIES (1,318 ) (2,071 )
NET ASSETS 2,296,242 2,018,221

CAPITAL AND RESERVES
Called up share capital 2 2
Capital reserve 26,657 26,657
Retained earnings 2,269,583 1,991,562
2,296,242 2,018,221

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 Comprehensive Income has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





G P Smith - Director


COUNTRY ESTATES (HAMPSHIRE) LIMITED (REGISTERED NUMBER: 02250807)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Country Estates (Hampshire) Limited, a company limited by shares, is incorporated in the UK. Its primary trading activities which are property development and ownership and rental of industrial estates, derive from its address in Reading, Berkshire.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Going Concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current market conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of properties
Revenue from the sale of properties is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the properties sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction, and;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably, and;
- the costs incurred and the costs to complete the contract can be measured reliably.

Incidental income arising from properties held for sale, such as rental income are recognised over the period to which they relate.

COUNTRY ESTATES (HAMPSHIRE) LIMITED (REGISTERED NUMBER: 02250807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

- Fixtures & fittings - 4 years

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income

COUNTRY ESTATES (HAMPSHIRE) LIMITED (REGISTERED NUMBER: 02250807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Stocks and work in progress
Stock and work in progress are valued at lower of cost and net realisable value after making due allowance of obsolete and slow moving stocks. Costs include all direct costs and an appropriate proportion of fixed and variable overheads.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instrument (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of short-term instrument constitute a financing transaction, like the payment of of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right of 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.




COUNTRY ESTATES (HAMPSHIRE) LIMITED (REGISTERED NUMBER: 02250807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued




Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Dividends
Equity dividends are recognized when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Interest income
Interest income is recognised in the Statement of comprehensive income in the year in which they are incurred.

Borrowing costs
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

Taxation
Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

3. EMPLOYEES AND DIRECTORS

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

COUNTRY ESTATES (HAMPSHIRE) LIMITED (REGISTERED NUMBER: 02250807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1 January 2023
and 31 December 2023 12,050
DEPRECIATION
At 1 January 2023 3,765
Charge for year 3,013
At 31 December 2023 6,778
NET BOOK VALUE
At 31 December 2023 5,272
At 31 December 2022 8,285

5. STOCKS
2023 2022
£ £
Stocks 1,274,100 1,470,138

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 34,940 49,465
Amounts owed by group undertakings 1,581,842 1,671,841
Other debtors 8,332 3,073
1,625,114 1,724,379

7. CASH AT BANK
2023 2022
£ £
Cash at bank and in hand 683,321 417,898

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 40,000 40,000
Trade creditors 6,439 1,768
Amounts owed to group undertakings 426,612 471,523
Taxation and social security 81,450 34,251
Other creditors 145,081 144,546
699,582 692,088

COUNTRY ESTATES (HAMPSHIRE) LIMITED (REGISTERED NUMBER: 02250807)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans 590,665 908,320

Secured loans

The loan was secured by way of a floating charge on all the property and assets in the company.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Newbold FCA (Senior Statutory Auditor)
for and on behalf of Haines Watts, Statutory Auditor

11. RELATED PARTY DISCLOSURES

The Company has taken advantage of the exemptions under section 33.1A of FRS 102 not to disclose transactions with other wholly owned group members.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Country Estates Holdings Limited, a company registered in England.

PAM Technical Services Limited is the parent company of the smallest group of which the Company is a member.

THe Company is controlled by G P Smith and G J Denton by virtue of their shareholding in the ultimate holding company.

Copies of the consolidated financial statements of Country Estates Holdings Limited can be obtained from Companies House.