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Company No: 06775508 (England and Wales)

BURLTON ESTATES LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BURLTON ESTATES LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BURLTON ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
BURLTON ESTATES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Investment property 4 2,275,000 2,275,000
Investments 5 194,166 195,788
2,469,166 2,470,788
Current assets
Debtors
- due within one year 6 420,417 69,606
- due after more than one year 6 987,127 1,566,843
Cash at bank and in hand 74,008 204,350
1,481,552 1,840,799
Creditors: amounts falling due within one year 7 ( 1,920,704) ( 2,036,239)
Net current liabilities (439,152) (195,440)
Total assets less current liabilities 2,030,014 2,275,348
Creditors: amounts falling due after more than one year 8 ( 240,834) ( 604,168)
Net assets 1,789,180 1,671,180
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 1,789,080 1,671,080
Total shareholders' funds 1,789,180 1,671,180

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Burlton Estates Limited (registered number: 06775508) were approved and authorised for issue by the Board of Directors on 01 April 2025. They were signed on its behalf by:

M R Ellis
Director
BURLTON ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BURLTON ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Burlton Estates Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1st Floor Wilson's Chambers, 13 Commercial Street, Hereford, HR1 2DB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net assets of £1,789,180. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 January 2024 24,291 24,291
At 31 December 2024 24,291 24,291
Accumulated depreciation
At 01 January 2024 24,291 24,291
At 31 December 2024 24,291 24,291
Net book value
At 31 December 2024 0 0
At 31 December 2023 0 0

4. Investment property

Investment property
£
Valuation
As at 01 January 2024 2,275,000
As at 31 December 2024 2,275,000

Assumptions

These assumptions were arrived at taking account of publicly available data and judgement. A significant level of uncertainty exists in relation to these assumptions and any changes in these assumptions could have a material impact on the carrying value of Investment Property in the financial statements. The 2024 valuations were made by the directors, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 2,346,508 2,346,508

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 January 2024 195,788 195,788
Additions 39,914 39,914
Disposals ( 40,231) ( 40,231)
Movement in fair value ( 1,305) ( 1,305)
At 31 December 2024 194,166 194,166
Carrying value at 31 December 2024 194,166 194,166
Carrying value at 31 December 2023 195,788 195,788

6. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Trade debtors 14,999 17,137
Amounts owed by associates 300,000 0
Prepayments 105,418 52,469
420,417 69,606
Debtors: amounts falling due after more than one year
Amounts owed by associates 970,000 1,550,000
Deferred tax asset 17,127 16,843
987,127 1,566,843

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 83,333 83,333
Trade creditors 553 1,767
Amounts owed to directors 1,775,000 1,895,000
Accruals and deferred income 16,500 9,121
Taxation and social security 45,318 47,018
1,920,704 2,036,239

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 240,834 604,168

The bank loan is secured on freehold properties of the Company with a carrying value of £2,275,000 (2023: £2,275,000).

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 1,775,000 1,895,000

No interest is charged and the loan is repayable on demand