R. J. AND D. E. BILLINGS LIMITED - Accounts to registrar (filleted)

REGISTERED NUMBER: 02019068 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

R. J. AND D. E. BILLINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J Billings

C J Billings

R J Billings

S J Billings

SECRETARY:

S J Billings

REGISTERED OFFICE:

Gay Dawn Offices

Pennis Lane

Fawkham

Longfield

Kent

DA3 8LY

REGISTERED NUMBER:

02019068 (England and Wales)

FIXED ASSETS

Property, plant and equipment

4

406,893

88,547

Investments

5

209,066

Investment property

6

6,340,154

5,837,229

6,956,113

6,134,842

CURRENT ASSETS

Inventories

369,046

945,236

Debtors

7

1,313,861

9,395,545

Cash at bank

698

77,730

1,683,605

10,418,511

CREDITORS

Amounts falling due within one year

8

8,876,229

10,111,596

NET CURRENT (LIABILITIES)/ASSETS

(7,192,624

)

306,915

TOTAL ASSETS LESS CURRENT LIABILITIES

(236,511

)

6,441,757

CREDITORS

Amounts falling due after more than one
year

9

(4,780

)

(14,912

)

PROVISIONS FOR LIABILITIES

11

(761,126

)

(665,411

)

NET (LIABILITIES)/ASSETS

(1,002,417

)

5,761,434

CAPITAL AND RESERVES

Called up share capital

12

1,521,432

Share premium account

13

175,056

Capital redemption reserve

13

78,572

Fair value reserve

13

3,290,842

2,581,085

Retained earnings

13

(6,068,319

)

1,405,289

SHAREHOLDERS' FUNDS

(1,002,417

)

5,761,434

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 29 September 2025 and were signed on its behalf by:

A J Billings - Director

1.	STATUTORY INFORMATION

R. J. AND D. E. BILLINGS 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

Revenue 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

Property, plant and equipment are valued at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at the following annual rates to write off each asset over its estimated useful life:

Plant and machinery 15% on reducing balance basis

Land and buildings Not depreciated

Investments in associates

Investments in shares are accounted for at cost less accumulated impairment losses.

Investment property

The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The fair value at 31 December 2024 of the properties has been determined by the directors of the company. The directors have adopted a valuation model based upon a multiple of the gross rental income adjusted where appropriate for any individual property market considerations. The directors over-ride their valuation model where independent valuation specialists have been engaged.

Stocks

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 assets investments

Investments in shares are accounted for at cost less accumulated impairment losses.

Going concern

These financial statements are prepared on a going concern basis because the connected company FC Stark Limited has undertaken to provide continuing financial support so that the company is able to pay its debts as and when they fall due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 11 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 January 2024

88,547

-

88,547

Additions

-

8,615

Revaluations

311,454

-

311,454

At 31 December 2024

400,001

8,615

408,616

DEPRECIATION

Charge for year

-

1,723

At 31 December 2024

-

1,723

NET BOOK VALUE

At 31 December 2024

400,001

6,892

406,893

At 31 December 2023

88,547

-

88,547

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2024

311,454

-

311,454

Cost

88,547

8,615

97,162

400,001

8,615

408,616

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2024

and 31 December 2024

209,066

NET BOOK VALUE

At 31 December 2024

209,066

At 31 December 2023

209,066

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

5,837,229

Additions

762,925

Disposals

(260,000

)

At 31 December 2024

6,340,154

NET BOOK VALUE

At 31 December 2024

6,340,154

At 31 December 2023

5,837,229

Investment properties are stated in the balance sheet at their aggregate fair value based on valuations carried out at 31 December 2024 by the directors and independent valuation specialists. If investment property had not been revalued it would have been included at the historical cost of

£2,599,637 (2023- £2,590,730).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

54,720

22,084

Other debtors

1,259,141

9,373,461

1,313,861

9,395,545

Included in debtors is a deferred tax asset of £505,506 (2023 £348,282)

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

10,000

Trade creditors

10,770

8,078

Taxation and social security

215,919

146,482

Other creditors

8,639,540

9,947,036

8,876,229

10,111,596

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

4,780

14,912

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

14,780

24,912

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

Fair value adjustments -

revaluation of investment

property

761,126

665,411

761,126

665,411

Deferred

tax

£

Balance at 1 January 2024

665,411

Provided during year

95,715

Balance at 31 December 2024

761,126

12.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2024

2023

value:

£

1,015,360

A Ordinary

£1

1,015,360

228,572

B Ordinary

£1

228,572

42,000

C Ordinary

£1

42,000

85,500

D Ordinary

£1

85,500

150,000

E Ordinary

£1

150,000

1,521,432

13.

RESERVES

Share

Capital

Fair

Retained

premium

redemption

value

earnings

account

reserve

Totals

£

At 1 January 2024

1,405,289

175,056

78,572

2,581,085

4,240,002

Deficit for the year

(6,763,851

)

(6,763,851

)

Revaluation in year

(1,046,222

)

-

1,046,222

-

Realised surplus on disposal

240,750

-

(240,750

)

-

Transfer deferred tax

on investment property

95,715

-

(95,715

)

-

At 31 December 2024

(6,068,319

)

175,056

78,572

3,290,842

(2,523,849

)

14.	CONTINGENT LIABILITIES

The company is a guarantor for guarantees provided to C Hoare & Co. for a maximum of £3,995,000 dated 26.11.2021 in respect of the bank borrowings of F. C. Stark Limited. The guarantees are supported by legal charges granted over the company's investment properties.

I Curry and D Morris

On 15.11.19 a legal charge was placed on the company's property situated at Niton, Isle of Wight to provide

security on a loan note issued by J Starc 2 Limited to I Curry and D Morris.

15.	RELATED PARTY DISCLOSURES

The directors have considered the relationships with parties with whom the company has materially transacted during the year and have classified the parties detailed below as parties under the significant influence of AJ, CJ, RJ and SJ Billings, directors and shareholders.

F.C. Stark Limited

Fernhead Homes Limited

Grays Thurrock Properties Limited

Summary of aggregated transactions with these related parties for the year:

2024

2023

£

Net loans advanced to parties/(advanced by)

485,174

(205,849

)

Amounts (owed to)/owed by parties at year end

(8,537,818

)

(9,022,992

)

Purchases of construction services to the value of £9,596 (2023 - £947,242) were made during the year.

Purchases of goods and services to the value of £46,240 (2023 - £31,151) were made during the year.

Corinthian Land Limited

Company in which AJ, CJ, RJ & SJ Billings are directors and shareholders.

2024

2023

£

Net loans advanced to /(repaid by) party

319,901

4,674,306

Amounts owed by party at year end

-

(319,901

)

Corinthian Mountfield Limited

Company in which AJ, CJ, RJ & SJ Billings are directors and shareholders.

2024

2023

£

Net loans (written off)/advanced to party

(7,658,124

)

4,705,000

Amounts owed by party at year end

-

7,909,624

16.	ULTIMATE CONTROLLING PARTY

There is no single controlling party.