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Burrington Estates (Bere Alston) Limited

Annual Report and Financial Statements
Year Ended 30 June 2024

Registration number: 11822041

 

Burrington Estates (Bere Alston) Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 6

 

Burrington Estates (Bere Alston) Limited

Balance Sheet

30 June 2024

Note

30 June
2024
£

30 June
2023
£

Current assets

 

Cash at bank and in hand

 

555

235

Creditors: Amounts falling due within one year

4

(373,350)

(295,826)

Net liabilities

 

(372,795)

(295,591)

Capital and reserves

 

Called up share capital

5

100

100

Profit and loss account

(372,895)

(295,691)

Shareholders' deficit

 

(372,795)

(295,591)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 24 April 2025 and signed on its behalf by:
 

.........................................
Mr R Dewhurst
Director

   
     

Company Registration Number: 11822041


 

 

Burrington Estates (Bere Alston) Limited

Notes to the Financial Statements

Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Winslade House
Manor Drive
Clyst St Mary
Exeter
Devon
EX5 1FY

These financial statements were authorised for issue by the Board on 24 April 2025.

2

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 in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006. There are no material departures from FRS 102 Section 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The functional currency of Burrington Estates (Bere Alston) Limited is considered to be pounds sterling because it is the currency of the primary economic environment in which the company operates.

 

Burrington Estates (Bere Alston) Limited

Notes to the Financial Statements

Year Ended 30 June 2024

Going concern

The financial statements have been prepared on a going concern basis. There are material uncertainties that cast significant doubt on the Company’s ability to continue its operations, as explained below.

The Group that the Company is a part of is undergoing restructure as part of a managed closure program. The Company continues to be supported by the Group’s principal shareholder and secured lender.

In respect of this Company, the directors' best estimates of the Company’s cash flows show the
Company generating positive cash flows and continuing to pay its creditors as they fall due. The Company’s expectation is that it will be supported by the Group’s principal shareholder and secured lender in continuing to conclude on contractual arrangements relating to land belonging to a third party (the 'underlying land transaction').

Once the underlying land transaction is completed, it is expected that the Company will be wound down in an orderly fashion. However, at the date of approval of these financial statements, the
underlying land transaction has not completed, meaning that the timing of this orderly wind down is
uncertain. Communication from the Group’s principal shareholder supports this Company concluding on the underlying land transaction.

These accounts have been prepared on a going concern basis but the timing of the conclusion of the underlying land transaction, as well as the fact that the Company is reliant on the ongoing support of the principal shareholder and secured lender, creates a material uncertainty that casts significant doubt on the Company’s ability to continue as a going concern.

Stocks

Stock of land and work in progress are stated at the lower of cost and net realisable value. Options over land are initially carried at cost. Cost includes all statutory and professional fees relating to the acquisition of a property, obtaining planning consents, costs of construction and development finance costs and attributable staff costs.

Where there is significant uncertainty over planning permission being granted at the balance sheet date, options over land and associated professional costs are fully provided for in the accounts and the provision is recognised in the profit and loss account as cost of sales.

 

Burrington Estates (Bere Alston) Limited

Notes to the Financial Statements

Year Ended 30 June 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other creditors;
• Cash and bank balances; and
• Short term balances with group companies.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

Key accounting estimates and judgements

Carrying value of work in progress

Management assess the recoverability of work in progress based on conditions that existed at the balance sheet date. Where there is significant uncertainty around planning permissions being granted, creating doubts over recoverability of WIP balances, the balances are provided for in full. At the year end date, all WIP was fully provided for as a result of planning permissions not being grated by 30 June 2024.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Burrington Estates (Bere Alston) Limited

Notes to the Financial Statements

Year Ended 30 June 2024

4

Creditors

30 June
2024
£

30 June
2023
£

Due within one year

Trade creditors

787

14,788

Amounts due to group undertakings

193,790

119,715

Taxation and social security

200

-

Accruals and deferred income

178,573

161,323

373,350

295,826

5

Share capital

Allotted, called up and fully paid shares

30 June
2024

30 June
2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

6

Related party transactions

The company has taken advantage of the exemption in FRS 102 Section 1A from disclosing transactions and balances with its parent company and other members of the wholly owned group.

7

Parent and ultimate parent undertaking

The company's immediate parent is Burrington Estates (Holdings) Limited, incorporated in England and Wales.

 The ultimate parent is Burrington Estates Group Limited, incorporated in England and Wales. Its registered office is:

Winslade House
Manor Drive
Clyst St Mary
United Kingdom
EX5 1FY

 

 

Burrington Estates (Bere Alston) Limited

Notes to the Financial Statements

Year Ended 30 June 2024

8

Audit report

The Independent Auditors' Report was unqualified. It included the following paragraphs which do not constitute a qualification.

Material uncertainity in respect of going concern

We draw attention to Note 2 of the financial statements which indicates the company is expected to
generate positive future cashflows from its activities.

As stated in Note 2, the Company is reliant on the ongoing support of its principal shareholder and secured lender. The Company is expected to be wound down once the underlying land transaction has completed. However, at the date of approval of these financial statements, the underlying land transaction has not completed, meaning that the timing of this orderly wind down is uncertain. These two factors create a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern. Our opinion is not modified in respect of this matter.

In auditing the financial statements, we have concluded that the director’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

The name of the Senior Statutory Auditor who signed the audit report was Tom Beable FCA, who signed for and on behalf of PKF Francis Clark on 24 April 2025.