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Registration number: 04257380

Hurley Riverside Park Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Hurley Riverside Park Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Hurley Riverside Park Limited

Company Information

Directors

Mr RA Burfitt

Mrs JL Burfitt

Mr JA Burfitt

Mr WJ Burfitt

Company secretary

Mrs JL Burfitt

Registered office

Park Office
Hurley
Maidenhead
Berkshire
SL6 5NE

Accountants

Sterling Grove Accountants Limited
Chartered Certified AccountantsFawley House
2 Regatta Place
Marlow Road
Bourne End
Buckinghamshire
SL8 5TD

 

Hurley Riverside Park Limited

(Registration number: 04257380)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,214,491

1,245,650

Investment property

5

1,575,000

1,513,390

 

2,789,491

2,759,040

Current assets

 

Stocks

6

298,492

229,483

Debtors

7

279,562

332,172

Cash at bank and in hand

 

757,771

730,057

 

1,335,825

1,291,712

Creditors: Amounts falling due within one year

8

(868,201)

(860,156)

Net current assets

 

467,624

431,556

Total assets less current liabilities

 

3,257,115

3,190,596

Provisions for liabilities

(160,897)

(144,495)

Net assets

 

3,096,218

3,046,101

Capital and reserves

 

Called up share capital

900

900

Other reserves

122,793

76,585

Retained earnings

2,972,525

2,968,616

Shareholders' funds

 

3,096,218

3,046,101

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 May 2025 and signed on its behalf by:
 

Mr RA Burfitt
Director

 

Hurley Riverside Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Park Office
Hurley
Maidenhead
Berkshire
SL6 5NE

These financial statements were authorised for issue by the Board on 12 May 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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Hurley Riverside Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% or 4% on cost

Plant and machinery

15% on reducing balance

Fixtures, fittings and equipment

15% or 25% on reducing balance

Motor vehicles

25% on reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price.

 

Hurley Riverside Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2023 - 32).

 

Hurley Riverside Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2023

918,519

24,660

287,847

1,191,451

2,422,477

Additions

8,607

1,285

86,438

30,900

127,230

Disposals

-

-

(58,550)

(31,405)

(89,955)

At 31 October 2024

927,126

25,945

315,735

1,190,946

2,459,752

Depreciation

At 1 November 2023

191,745

15,829

117,943

851,310

1,176,827

Charge for the year

25,357

2,244

45,157

52,647

125,405

Eliminated on disposal

-

-

(34,152)

(22,819)

(56,971)

At 31 October 2024

217,102

18,073

128,948

881,138

1,245,261

Carrying amount

At 31 October 2024

710,024

7,872

186,787

309,808

1,214,491

At 31 October 2023

726,774

8,831

169,904

340,141

1,245,650

Included within the net book value of land and buildings above is £710,024 (2023 - £726,774) in respect of freehold land and buildings.
 

5

Investment properties

2024
£

At 1 November

1,513,390

Fair value adjustments

61,610

At 31 October

1,575,000

The investment properties were valued on an open market basis on the 31 October 2024 by the directors of the company.

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Other inventories

298,492

229,483

 

Hurley Riverside Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

137,826

73,505

Amounts owed by related parties

9

22,244

146,161

Prepayments

 

75,286

72,873

Other debtors

 

44,206

39,633

   

279,562

332,172

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

141,086

203,092

Taxation and social security

57,757

97,860

Accruals and deferred income

34,152

23,264

Other creditors

635,206

535,940

868,201

860,156

 

Hurley Riverside Park Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

9

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

Mr RA Burfitt

Directors Loan

43,663

20,646

(64,309)

-

Mr JA Burfitt

Directors Loan

33,470

620

(11,846)

22,244

Mr WJ Burfitt

Directors Loan

69,028

8,230

(77,258)

-

2023

At 1 November 2022
£

Advances to director
£

Repayments by director
£

At 31 October 2023
£

Mr RA Burfitt

Directors Loan

-

43,663

-

43,663

Mr JA Burfitt

Directors Loan

36,018

-

(2,548)

33,470

Mr WJ Burfitt

Directors Loan

59,893

9,135

-

69,028