REGISTERED NUMBER: 09915873 (England and Wales)

EAGLE CREST (DERBY) LTD

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

A A Marshall

S Marks

Registered office:

3rd Floor

86 - 90 Paul Street

London

EC2A 4NE

Registered number:

09915873 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Investment property

4

3,600,000

4,530,000

Current assets

Debtors

5

918,563

1,065,409

Cash at bank

731,860

1,107,292

1,650,423

2,172,701

Creditors

Amounts falling due within one year

6

(2,760,845

)

(2,338,840

)

Net current liabilities

(1,110,422

)

(166,139

)

Total assets less current liabilities

2,489,578

4,363,861

Creditors

Amounts falling due after more than one year

7

(2,702,855

)

(3,548,391

)

Provisions for liabilities

8

-

(175,000

)

Net (liabilities)/assets

(213,277

)

640,470

Capital and reserves

Called up share capital

9

200

200

Retained earnings

10

(213,477

)

640,270

Shareholders' funds

(213,277

)

640,470

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:

S Marks - Director

1.	Statutory information

Eagle Crest (Derby) Ltd 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.

Going Concern

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director has confirmed continued support of the company and the accounts have been prepared on a going concern basis.

Turnover

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

Turnover comprises revenue recognised by the company in respect of rents receivable.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognized 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4.	Investment property

Total

£

Fair value

At 1 January 2024

4,530,000

Revaluations

(930,000

)

At 31 December 2024

3,600,000

Net book value

At 31 December 2024

3,600,000

At 31 December 2023

4,530,000

The valuation is based on the selling price agreed in a post-year-end transaction. The director considers this price to reflect the fair value at the reporting date, as the sale was conducted at arm’s length and market conditions remained stable.

5.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

30,148

30,148

Due from connected companies

813,899

855,225

Other debtors

74,516

180,036

918,563

1,065,409

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

277,724

210,453

Trade creditors

35,353

92,219

Due to connected companies

2,298,991

1,862,072

Taxation and social security

63,036

82,515

Other creditors

85,741

91,581

2,760,845

2,338,840

7.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

2,702,855

3,548,391

The company is under common control with the following companies: Eagle Crest (Sunderland) Limited, Eagle Crest (Folkestone) Limited, Eagle Crest (Maidstone) Limited, Eagle Crest (Portsmouth) Limited, Eagle Crest (Wolverhampton) Limited, Eagle Crest (Worcester) Limited.

The companies are jointly and severally liable for a bank loan which at the year end stood at £4,292,862. This loan has been apportioned to each company and a loan value of £2,980,579 has been accorded to Eagle Crest (Derby) Limited.

On 13 April 2016 N M Rothschild & Sons Limited placed fixed charge, floating charge and negative pledge over the freehold property known as 34 queen square, wolverhampton WV1 1TL. Floating charge covers all the property or undertaking of the company.

On 20 July 2016 N M Rothschild & Sons Limited (As Security Agent) placed fixed charge and negative pledge, which were outstanding at the year end.

8.	Provisions for liabilities

2024

2023

£

£

Deferred tax

-

175,000

Deferred tax

£

Balance at 1 January 2024

175,000

Provided during year

(175,000

)

Balance at 31 December 2024

-

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

200

Ordinary shares

£1

200

200

10.

Reserves

Retained

earnings

£

At 1 January 2024

640,270

Deficit for the year

(808,747

)

Dividends

(45,000

)

At 31 December 2024

(213,477

)

11.	Related party disclosures

The company at the year end date owed £2,298,990 (2023:£1,862,069) collectively to the following companies under common control: Eagle Crest (Consent) Limited, Eagle Crest (Portsmouth) Limited, Eagle Crest (Maidstone) Limited, Eagle Crest (Sunderland) Limited, Eagle Crest (Wolverhampton) Limited and Eagle Crest (Derby) Limited.

Also at the year end date, the company was owed £813,900 (2023: £855,225) collectively from the following companies under common control: Eagle Crest (Consent) Limited, Eagle Crest (Portsmouth) Limited, Eagle Crest (Maidstone) Limited, Eagle Crest (Sunderland) Limited, Eagle Crest (Wolverhampton) Limited and Eagle Crest (Derby) Limited.

12.	Illegal dividend

At the time of the dividend was declared, the directors reviewed the company's financial position and confirmed that there were sufficient distributable reserves to make the distribution.