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Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Underhill Farm Estates Limited

Underhill Farm Estates Limited (Registered number: 09335518)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Underhill Farm Estates Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: A N M Sanders
D A B Sanders
W V Thornton





SECRETARY: D A B Sanders





REGISTERED OFFICE: Buckland Estate Office
Lawrence Lane
Buckland
Betchworth
Surrey
RH3 7BE





REGISTERED NUMBER: 09335518 (England and Wales)





ACCOUNTANTS: Williams & Co Epsom LLP
Chartered Accountants
8-10 South Street
Epsom
Surrey
KT18 7PF

Underhill Farm Estates Limited (Registered number: 09335518)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,977 144
Investment property 5 5,990,558 5,990,558
5,993,535 5,990,702

CURRENT ASSETS
Debtors 6 540,441 1,721,698
Cash at bank 11,747 25,730
552,188 1,747,428
CREDITORS
Amounts falling due within one year 7 1,193,024 2,364,688
NET CURRENT LIABILITIES (640,836 ) (617,260 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,352,699

5,373,442

CREDITORS
Amounts falling due after more than one year 8 (1,250,000 ) (1,250,000 )

PROVISIONS FOR LIABILITIES 11 (477,110 ) (477,110 )
NET ASSETS 3,625,589 3,646,332

CAPITAL AND RESERVES
Called up share capital 12 1,000,000 1,000,000
Share premium 13 899,998 899,998
Fair value reserve 13 1,431,330 1,431,330
Retained earnings 13 294,261 315,004
SHAREHOLDERS' FUNDS 3,625,589 3,646,332

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Underhill Farm Estates Limited (Registered number: 09335518)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:





D A B Sanders - Director


Underhill Farm Estates Limited (Registered number: 09335518)

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


1. STATUTORY INFORMATION

Underhill Farm Estates Limited 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

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

Underhill Farm Estates Limited (Registered number: 09335518)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 January 2024 2,616 1,445 4,061
Additions - 3,825 3,825
At 31 December 2024 2,616 5,270 7,886
DEPRECIATION
At 1 January 2024 2,616 1,301 3,917
Charge for year - 992 992
At 31 December 2024 2,616 2,293 4,909
NET BOOK VALUE
At 31 December 2024 - 2,977 2,977
At 31 December 2023 - 144 144

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 5,990,558
NET BOOK VALUE
At 31 December 2024 5,990,558
At 31 December 2023 5,990,558

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2021 1,908,440
Cost 4,082,118
5,990,558

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,341 3,695
Amounts owed by group undertakings 539,100 1,718,003
540,441 1,721,698

Underhill Farm Estates Limited (Registered number: 09335518)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 27,885 5,376
Amounts owed to group undertakings 1,154,314 -
Tax 1,878 16,416
Other creditors 2,450 2,450
Loan stock - 1,726,600
Other loans - 603,490
Accrued expenses 6,497 10,356
1,193,024 2,364,688

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 9) 1,250,000 1,250,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,000,000 1,000,000

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 250,000 250,000

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,000,000 1,000,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,250,000 1,250,000

The bank have a fixed charge over several residential properties owned by the company. The value of these properties is found within note 6.

The loans are also guaranteed by the entity's parent company and another group company.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 477,110 477,110

Underhill Farm Estates Limited (Registered number: 09335518)

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


11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 477,110
Balance at 31 December 2024 477,110

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000,000 Ordinary £1 1,000,000 1,000,000

13. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 January 2024 315,004 899,998 1,431,330 2,646,332
Deficit for the year (20,743 ) (20,743 )
At 31 December 2024 294,261 899,998 1,431,330 2,625,589

14. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Samisami Limited.