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REGISTERED NUMBER: 02781375 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Rendlesham Estates Ltd

Rendlesham Estates Ltd (Registered number: 02781375)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rendlesham Estates Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M J Walter
Mrs T J C Webb



SECRETARY: M J Walter



REGISTERED OFFICE: 5 Eton House
School Lane
Egham
Surrey
TW20 9GE



REGISTERED NUMBER: 02781375 (England and Wales)



ACCOUNTANTS: A C Mole LLP
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX



SOLICITORS: Gordons Solicitors LLP
Winter Hill House
Marlow Reach
Station Approach
Marlow
Buckinghamshire
SL7 1NT

Rendlesham Estates Ltd (Registered number: 02781375)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 260,000 260,000
Investment property 4 5,912,897 5,912,897
6,172,897 6,172,897

CURRENT ASSETS
Debtors 5 701,998 626,042
Cash at bank 65,299 111,057
767,297 737,099
CREDITORS
Amounts falling due within one year 6 56,974 27,116
NET CURRENT ASSETS 710,323 709,983
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,883,220

6,882,880

CREDITORS
Amounts falling due after more than one
year

7

4,738,092

4,738,092
NET ASSETS 2,145,128 2,144,788

CAPITAL AND RESERVES
Called up share capital 1,208,520 1,208,520
Share premium 9 5,632 5,632
Revaluation reserve 9 1,100,163 1,100,163
Retained earnings 9 (169,187 ) (169,527 )
SHAREHOLDERS' FUNDS 2,145,128 2,144,788

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Rendlesham Estates Ltd (Registered number: 02781375)

Balance Sheet - continued
31 March 2024


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 by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:




M J Walter - Director



Mrs T J C Webb - Director


Rendlesham Estates Ltd (Registered number: 02781375)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

General information
Rendlesham Estates Ltd is engaged in providing and maintaining flats and dwelling houses.

The company is incorporated and domiciled in the UK. The address of the registered office is 5 Eton House, School Lane, Egham, Surrey, TW20 9GE.

Statement of compliance
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Companies Act 2006.

Basis of preparation
These financial statements are prepared on a going concern basis, under the historical cost convention, as modified by certain financial assets and liabilities measured at fair value through profit or loss and properties which are held at valuation.

Turnover
Revenue is measured at the fair value of the consideration received or receivable from ordinary activities and represents the amount of rental income receivable stated after trade discounts, other sales taxes and value added tax.

Tangible fixed assets
Tangible fixed assets are initially measured at cost. Leasehold properties are held at valuation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property-See below

The Leasehold property from which the company operates has been revalued and is not depreciated as it is considered that the residual value of the property is in excess of its cost and therefore, in accordance with FRS102, there is no depreciable amount. Annual impairment reviews are undertaken in respect of this property to ensure its carrying value can be supported.

Investment property
Investment property is shown at fair value, being the most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss in the year of valuation.

Taxation
The taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the income statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

i) Current Taxation
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

ii) Deferred Taxation
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements.

Deferred tax is recognised on all timing differences at the balance sheet date, except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of timing difference.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rendlesham Estates Ltd (Registered number: 02781375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES - continued

Financial instruments
i) Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

At the balance sheet date financial assets are assessed for evidence of impairment. If an asset is impaired the impairment loss is recognised in the income statement.

ii) Financial liabilities
Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price and subsequently measured at amortised cost.

Critical accounting judgements and estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The directors are of the opinion that there are no estimates or assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

3. TANGIBLE FIXED ASSETS
Leasehold
Property
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 260,000
NET BOOK VALUE
At 31 March 2024 260,000
At 31 March 2023 260,000

Cost or valuation at 31 March 2024 is represented by:

Leasehold
Property
£   
Valuation in 2017 86,908
Valuation in 2023 (25,000 )
Cost 198,092
260,000

Leasehold properties were valued on an open market basis on 31 March 2023 by the following valuers who are independent of the Company:

ValuerCompany
Chris PageHodders Estate Agents
Satty BhamraParklane
Guy RobertsAdair Paxton Ltd

Rendlesham Estates Ltd (Registered number: 02781375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 5,912,897
NET BOOK VALUE
At 31 March 2024 5,912,897
At 31 March 2023 5,912,897

The investment properties have been professionally valued in March 2023. The directors consider that the valuations provided, are a reliable basis for these investment properties at the balance sheet date.

All valuations have been performed by Estate Agents who are independent of the company and have experience of valuing similar properties. The properties have been valued on an open market basis.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2019 1,428,000
Valuation in 2023 (389,745 )
Cost 4,874,642
5,912,897

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors - 4,044
Joint ventures 1,998 1,998
1,998 6,042

Amounts falling due after more than one year:
Loan notes 700,000 620,000

Aggregate amounts 701,998 626,042

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to related parties 14,970 10,383
Taxation and social security 1,490 1,510
Other creditors 40,514 15,223
56,974 27,116

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 4,738,092 4,738,092

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 4,738,092 4,738,092

Rendlesham Estates Ltd (Registered number: 02781375)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 4,738,092 4,738,092

The banks have security by way of a first charge over 22 (2023: 22) properties owned by the company for any advance made to the company by them.

9. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 (169,527 ) 5,632 1,100,163 936,268
Profit for the year 340 340
At 31 March 2024 (169,187 ) 5,632 1,100,163 936,608

10. 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.



11. ULTIMATE PARENT COMPANY

The company is a 100% subsidiary of Rendlesham Park Properties Limited, a company registered in England and Wales.

Copies of the group accounts can be obtained from Companies House, Crown Way, Cardiff.