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Company No: 14403190 (England and Wales)

# CHURSTON COURT (DEVON) LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

CHURSTON COURT (DEVON) LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

CHURSTON COURT (DEVON) LIMITED

## BALANCE SHEET

As at 31 March 2025
CHURSTON COURT (DEVON) LIMITED

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 31.03.2025 |  | 31.03.2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 2,327 |  | 2,327
Tangible assets | 4 | 1,140,925 |  | 995,455
|  | 1,143,252 |  | 997,782
Current assets |  |  |  |
Stocks |  | 508 |  | 0
Debtors | 5 | 186,585 |  | 1,101,186
Cash at bank and in hand |  | 4,594 |  | 103,408
|  | 191,687 |  | 1,204,594
Creditors: amounts falling due within one year | 6 | ( 2,298,335) |  | ( 2,363,027)
Net current liabilities |  | (2,106,648) |  | (1,158,433)
Total assets less current liabilities |  | (963,396) |  | (160,651)
Creditors: amounts falling due after more than one year | 7 | ( 150,000) |  | ( 300,000)
Net liabilities |  | ( 1,113,396) |  | ( 460,651)
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | ( 1,113,496 ) |  | ( 460,751 )
Total shareholder's deficit |  | ( 1,113,396) |  | ( 460,651)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Churston Court (Devon) Limited (registered number: 14403190) were approved and authorised for issue by the Board of Directors on 11 November 2025. They were signed on its behalf by:

Mr J R Phillips Director |

CHURSTON COURT (DEVON) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
CHURSTON COURT (DEVON) LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

Churston Court (Devon) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £1,113,396. The Company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the value of goods and services provided can be reliably measured.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs | 5 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life.
No depreciation is provided on land and buildings. See "critical estimates" below for further details.

Land and buildings | not depreciated
Plant and machinery | 15 % reducing balance
Fixtures and fittings | 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

##### Critical accounting judgements and key sources of estimation uncertainity

In applying the company’s accounting policies, which are described above, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The following are the critical judgements and estimates that the directors have made in the process of applying the company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
No depreciation is provided on land and buildings, as the directors consider that the useful economic life of the company's properties is such that depreciation would be immaterial. The company has a policy and practice of regular maintenance and repair (charges for which are recognised in the profit and loss account such that these assets are kept to their previously assessed standard of performance, and the properties are unlikely to suffer from economic or technological obsolescence. The properties are reviewed for impairment each year.

#### 2. Employees

| Year ended 31.03.2025 |  | Period from 06.10.2022 to 31.03.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Intangible assets

| Website costs |  | Total
| £ |  | £
Cost |  |  |
At 01 April 2024 | 2,327 |  | 2,327
At 31 March 2025 | 2,327 |  | 2,327
Accumulated amortisation |  |  |
At 01 April 2024 | 0 |  | 0
At 31 March 2025 | 0 |  | 0
Net book value |  |  |
At 31 March 2025 | 2,327 |  | 2,327
At 31 March 2024 | 2,327 |  | 2,327

#### 4. Tangible assets

| Land and buildings |  | Plant and machinery |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2024 | 995,455 |  | 0 |  | 0 |  | 995,455
Additions | 118,784 |  | 27,491 |  | 3,908 |  | 150,183
At 31 March 2025 | 1,114,239 |  | 27,491 |  | 3,908 |  | 1,145,638
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2024 | 0 |  | 0 |  | 0 |  | 0
Charge for the financial year | 0 |  | 4,125 |  | 588 |  | 4,713
At 31 March 2025 | 0 |  | 4,125 |  | 588 |  | 4,713
Net book value |  |  |  |  |  |  |
At 31 March 2025 | 1,114,239 |  | 23,366 |  | 3,320 |  | 1,140,925
At 31 March 2024 | 995,455 |  | 0 |  | 0 |  | 995,455

#### 5. Debtors

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Trade debtors | 66,240 |  | 3,341
Amounts owed by connected companies | 95,000 |  | 1,066,288
Prepayments | 11,383 |  | 10,325
VAT recoverable | 13,962 |  | 21,232
| 186,585 |  | 1,101,186

#### 6. Creditors: amounts falling due within one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Bank loans (secured) | 150,000 |  | 150,000
Trade creditors | 95,480 |  | 67,886
Amounts owed to connected companies | 47,265 |  | 40,240
Amounts owed to directors | 1,973,585 |  | 2,099,900
Accruals and deferred income | 32,005 |  | 5,001
| 2,298,335 |  | 2,363,027

The bank loan is secured on freehold property owned by the company.

#### 7. Creditors: amounts falling due after more than one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Bank loans (secured) | 150,000 |  | 300,000

The bank loan is secured on freehold property owned by the company.

#### 8. Called-up share capital

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 £1 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 9. Ultimate controlling party

Parent Company:

JSCLCO Limited
Sigma House, Oak View Close, Edginswell Park, Torquay, TQ2 7FF.