Far Hills Estates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00322725 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FAR HILLS ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M P Lhermette

Ms C Lhermette

P J Lhermette

A J P Lhermette

SECRETARY:

P J Lhermette

REGISTERED OFFICE:

The Farm Office

Lamberhurst Farm

Dargate

Faversham

Kent

ME13 9EP

REGISTERED NUMBER:

00322725 (England and Wales)

ACCOUNTANTS:

Carleys

Second Floor South

The Fitted Rigging House

The Historic Dockyard

Chatham

Kent

ME4 4TZ

FIXED ASSETS

Tangible assets

4

1,070

1,189

Investments

5

776,801

347,074

Investment property

6

3,854,501

3,767,841

4,632,372

4,116,104

CURRENT ASSETS

Stocks

614

Debtors

7

969,732

981,013

Cash at bank

70,892

445,526

1,041,238

1,427,153

CREDITORS

Amounts falling due within one year

8

(178,095

)

(224,191

)

NET CURRENT ASSETS

863,143

1,202,962

TOTAL ASSETS LESS CURRENT
LIABILITIES

5,495,515

5,319,066

PROVISIONS FOR LIABILITIES

(540,399

)

(540,429

)

NET ASSETS

4,955,116

4,778,637

CAPITAL AND RESERVES

Called up share capital

10

20,000

Retained earnings

11

4,935,116

4,758,637

SHAREHOLDERS' FUNDS

4,955,116

4,778,637

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.

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 26 September 2025 and were signed on its behalf by:

M P Lhermette - Director

1.	STATUTORY INFORMATION

Far Hills 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents rental income due on the letting of the company's investment properties and is recognised over the period of the rental.

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 etc

-

10% on reducing balance

Investment property

Investment property is carried at fair value. Revaluation surpluses and deficits are recognised in the Income Statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and net estimated selling price less costs. Cost is calculated at the actual cost paid.

Taxation

Taxation for the year comprises current and deferred tax. 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.

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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price. Subsequently they are measured at fair value through the profit and loss except for those investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

11,227

DEPRECIATION

At 1 January 2024

10,038

Charge for year

119

At 31 December 2024

10,157

NET BOOK VALUE

At 31 December 2024

1,070

At 31 December 2023

1,189

5.	FIXED ASSET INVESTMENTS

At fair value

At cost less
impairment

Total

£

COST OR VALUATION

At 1 January 2024

337,073

10,000

347,073

Withdrawals

-

Investment portfolio charges

(4,622

)

0

(4,622

)

Revaluations

35,279

0

35,279

Dividends received and reinvested

50

0

50

At 31 December 2024

367,780

10,000

377,780

NET BOOK VALUE

At 31 December 2024

367,780

10,000

377,780

At 1 January 2024

337,073

10,000

347,073

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2023

3,944,144

Revaluations

(176,303

)

At 31 December 2023

3,767,841

NET BOOK VALUE

3,767,841

At 31 December 2023

At 31 December 2022

3,944,144

The investment properties have been valued at fair value by one of the directors of the company, M P Lhermette, based on the Nationwide All Properties - Mix -adjusted regional and UK indices.

7.

DEBTORS

2024

2023

£

Amounts falling due within one year:

Trade debtors

56,446

62,805

Other debtors

512,399

512,371

568,845

575,176

Amounts falling due after more than one year:

Other debtors

400,887

405,837

Aggregate amounts

969,732

981,013

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Taxation and social security

57,336

59,145

Other creditors

120,759

165,046

178,095

224,191

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

PML Will Trust Loan

100,000

Certain directors of the company have given personal guarantees in respect of a loan of £100,000.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

2,501

Ordinary A

£1

2,501

1

Ordinary B

£1

1

1,000

Ordinary C

£1

1,000

2,499

Ordinary D

£1

2,499

1,216

Ordinary E

£1

1,216

2,335

Ordinary F

£1

2,335

2,612

Ordinary G

£1

2,612

Ordinary H

£1

2,612

Ordinary J

£1

2,612

Ordinary K

£1

2,612

20,000

11.

RESERVES

The retained earnings include non distributable reserves of £2,488,349 (2023: £2,596,674) arising from the revaluation of investment properties at fair value net of the related deferred taxation as follows:

2024

2023

£

Revaluation gains on investment properties valued at fair value

3,050,145

3,136,806

Less related deferred taxation

(561,796

)

(540,132

)

Net non distributable revaluation gains

2,488,349

2,596,674

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

M P Lhermette

Balance outstanding at start of year

361,301

358,067

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

365,704

361,301

P J Lhermette

Balance outstanding at start of year

2,467

666

Amounts repaid

(2,467

)

(666

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

1,570

2,467