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REGISTERED NUMBER: 13203014 (England and Wales)











FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

HARTFORD POINT (BURNHAM) LTD

HARTFORD POINT (BURNHAM) LTD (REGISTERED NUMBER: 13203014)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HARTFORD POINT (BURNHAM) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: S Bates
D S Yates





REGISTERED OFFICE: Feltham House
42 London Road
Newbury
RG14 1LA





REGISTERED NUMBER: 13203014 (England and Wales)





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

HARTFORD POINT (BURNHAM) LTD (REGISTERED NUMBER: 13203014)

BALANCE SHEET
30 JUNE 2024

2024 2023
as restated
Notes £ £
CURRENT ASSETS
Stocks 4 21,151,104 16,570,802
Debtors 5 854,107 -
Cash at bank and in hand 103,737 1
22,108,948 16,570,803
CREDITORS
Amounts falling due within one year 6 22,186,724 16,570,802
NET CURRENT (LIABILITIES)/ASSETS (77,776 ) 1
TOTAL ASSETS LESS CURRENT
LIABILITIES

(77,776

)

1

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings (77,777 ) -
SHAREHOLDERS' FUNDS (77,776 ) 1

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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





D S Yates - Director


HARTFORD POINT (BURNHAM) LTD (REGISTERED NUMBER: 13203014)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Hartford Point (Burnham) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland including the provisions of Section 1A Small Entities and the Companies Act 2006. The financial statements have been rounded to the nearest £.

Going Concern
The Company is financed by a combination of group funding and commercial loan finance. The Company has the continued financial support of Feltham Group Limited. On that basis the directors believe it is appropriate to prepare the financial statements on a going concern basis.

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:

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.

Revenue in respect of the sale of residential properties is recognised once contracts have exchanged and there is a legal obligation on the buyer to complete the purchase.

Stocks
Stocks and work in progress are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Work in progress include labour and attributable overheads and interest on finance costs.

At each balance sheet date, stocks and work in progress are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

HARTFORD POINT (BURNHAM) LTD (REGISTERED NUMBER: 13203014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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.

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.

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 instruments (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 a short-term instrument constitute a financing transaction, like the payment 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.

Finance costs
Up to the completion of the property at the beginning of April 2024, finance costs were capitalised as part of the cost of the properties held in work in progress.

After the completion of the property the finance costs are associated property leasing. Therefore the costs have been charged to the profit & loss over the term of the arrangement.

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 (2023 - NIL).

4. STOCKS
2024 2023
as restated
£ £
Work-in-progress 21,151,104 16,570,802

HARTFORD POINT (BURNHAM) LTD (REGISTERED NUMBER: 13203014)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£ £
Other debtors 854,107 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£ £
Bank loans and overdrafts 10,999,999 11,096,523
Trade creditors 1,799,493 1,651,245
Amounts owed to group undertakings 9,247,861 3,823,034
Other creditors 139,371 -
22,186,724 16,570,802

Bank loans are secured by legal charges over the company's assets.

The bank funding agreement is repayable on a 3 month revolving basis. The master funding agreement covers the period to April 2027. Under the terms of the agreement, the company has the option to repay proportions of the funding as the units in the property are sold.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: as restated
£ £
1 Ordinary £1 1 1

8. 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

9. RELATED PARTY DISCLOSURES

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 wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The immediate parent company is Feltham Properties Limited, a company incorporated in England
and Wales.

The ultimate controlling party is Feltham Group Limited, a company incorporated in England and
Wales.