Registration number: 02247773

Hurlingham Estates Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 6

Hurlingham Estates Limited

(Registration number: 02247773)
Balance Sheet as at 31 May 2025

	Note	2025 £		(As restated) 2024 £
Fixed assets
Tangible assets	4		1,400		634
Investment property	5		10,050,000		10,050,000
			10,051,400		10,050,634
Current assets
Debtors	6	69,802		31,774
Cash at bank and in hand		1,615,448		1,287,066
		1,685,250		1,318,840
Creditors: Amounts falling due within one year	7	(362,120)		(274,169)
Net current assets			1,323,130		1,044,671
Total assets less current liabilities			11,374,530		11,095,305
Provisions for liabilities			(538,000)		(538,000)
Net assets			10,836,530		10,557,305
Capital and reserves
Called up share capital	8	500,000		500,000
Fair value reserve		2,873,969		2,873,969
Retained earnings		7,462,561		7,183,336
Shareholders' funds			10,836,530		10,557,305

For the financial year ending 31 May 2025 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 20 October 2025 and signed on its behalf by:
 

......................................... R Staples Director

Hurlingham Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

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:
Townhead
Slaidburn
Clitheroe
BB7 3EU

These financial statements were authorised for issue by the Board on 20 October 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Reclassification of comparative amounts

The company has reassessed the classification of all freehold property and determined that they are held primarily to earn rental income. As a result, the company has reclassified these assets from tangible fixed assets (freehold property) to investment property for presentation in the financial statements.

The reassessment was conducted in accordance with FRS 102 Section 1A and the applicable provisions in Section 16 Investment Property. The company concluded that the relevant properties do not form part of its operational or administrative assets, but are held for long-term investment purposes.

Comparative figures for the prior year have been restated to reflect the reclassification. This restatement affects the balance sheet presentation and has increased the company's net assets by £1,983,576 due to the failure to recognise the fair value gain on investment property and incorrect recognition of deferred tax.

Upon reclassification, the properties are measured in accordance with the policy for investment property at fair value as disclosed in the accounting policies note.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of assets in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Hurlingham Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

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 corporation 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.

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
Other tangible assets	20% Straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. Valuations are based on 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.

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.

Hurlingham Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, 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 for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest for a similar debt instrument.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Hurlingham Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

4	Tangible assets

	Other tangible assets £	Total £
Cost or valuation
At 1 June 2024	6,411	6,411
Additions	1,174	1,174
At 31 May 2025	7,585	7,585
Depreciation
At 1 June 2024	5,777	5,777
Charge for the year	408	408
At 31 May 2025	6,185	6,185
Carrying amount
At 31 May 2025	1,400	1,400
At 31 May 2024	634	634

5	Investment properties

	(As restated) 2025 £
At 1 June	10,050,000
At 31 May	10,050,000

The properties have been revalued to open market value by the directors. The historical cost of the properties is £6,749,590 (2024 - £6,749,590).

6

Debtors

Current	2025 £	2024 £
Trade debtors	66,788	21,068
Prepayments	2,571	10,263
Other debtors	443	443
	69,802	31,774

Hurlingham Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025

7

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	5,928	11,994
Taxation and social security	229,080	160,209
Accruals and deferred income	70,822	71,136
Other creditors	56,290	30,830
	362,120	274,169

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	500,000	500,000	500,000	500,000

9	Related party transactions

Expenditure with and payables to related parties

2025	Key management £
Amounts payable to related party	3,702

2024	Key management £
Amounts payable to related party	3,702