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Registered number: 15531968
P D EAGLEHURST LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 28 FEBRUARY 2025
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P D EAGLEHURST LIMITED
REGISTERED NUMBER: 15531968
BALANCE SHEET
AS AT 28 FEBRUARY 2025
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Creditors: amounts falling due within one year
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Net current (liabilities)/assets
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Total assets less current liabilities
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Investment property reserve
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P D EAGLEHURST LIMITED
REGISTERED NUMBER: 15531968
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 4 to 9 form part of these financial statements.
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P D EAGLEHURST LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 28 FEBRUARY 2025
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Investment property revaluation reserve
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Shares issued during the period
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Transfers between reserves
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P D EAGLEHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
P D Eaglehurst Limited is a private company limited by share capital, incorporated on 29 February 2024 under the Companies Act 2006 and domiciled in England. The address of the Company's registered office is 124 Finchley Road, London, NW3 5JS.
2.Accounting policies
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Summary of significant accounting policies
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all reporting periods presented, unless otherwise stated.
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Basis of preparation of financial statements
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The financial statements of the Company have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland, and Companies Act 2006.
The preparation of financial statements in conformity with Financial Reporting Standard 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Company's accounting policies.
Details of those estimates and/or judgments made in applying the Company's accounting policies towards the preparation of these financial statements that may be considered as yielding a significant risk of a material adjustment being made to the carrying amounts of assets and/or liabilities reported in the balance sheet during the next financial reporting period are disclosed in note 3 to the financial statements.
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Functional and presentational currency
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Items included in the financial statements of the Company are measured using the currency of the primary economic environment in which the Company operates (the "functional currency").
The functional currency of the Company, and the currency in which the financial statements are presented (the "presentational currency"), is 'Pounds Sterling' (£) rounded to the nearest single unit of currency.
In assessing whether the going concern basis remains appropriate for the preparation of the financial statements, the director has reviewed the Company’s principal and emerging risks, existing loan facilities, access to funding and liquidity position and the Company's performance up to the date these financial statements were approved and expected performance over the 18 months following the balance sheet date.
Based on his assessment, the director at the time of approving the financial statements has a reasonable expectation that the Company has, available at its disposal, adequate resources to continue in operational existence for the foreseeable future.
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P D EAGLEHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
All borrowing costs are recognised in profit or loss in the year in which they are incurred unless where considered, in the opinion of the directors, to be material with respect to the value of the associated capital instrument upon which the respective borrowing costs on issue are initially recognised as a reduction against the proceeds of the associated capital instrument.
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
Taxation comprises of corporate taxation ("current taxation") and deferred taxation recognised solely in profit or loss.
Current taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date where taxable income is generated by the Company through its business operations.
The Company is subject to taxation at the rate enacted by HM Revenue & Customs in respect of property investment activities undertaken in the United Kingdom. All such liabilities in respect of UK current taxation payable are provided for as soon as there is a reasonable certainty that a liability will crystallise. The Company did not undertake any other activities in any other country.
Deferred taxation is recognised on temporary differences arising between the tax bases of assets and liabilities and their respective carrying amounts in the financial statements. Deferred taxation is calculated using tax rates and on the basis of tax laws enacted or substantively enacted at the balance sheet date and expected to apply when the related deferred tax asset/liability is realised/settled. Deferred tax assets are recognised only to the extent that it is sufficiently probable that future taxable profits will be available against which the temporary differences can be utilised.
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P D EAGLEHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
Investment property comprises of property held by the Company to earn income or for capital appreciation, or both.
Investment property is initially recognised at purchase cost plus directly attributable acquisition expenses and subsequently measured at fair value.
Investment properties are not depreciated.
Gains and losses arising from changes in fair value are recognised in profit or loss during the period in which they arise.
Purchases and sales of investment property are recognised when contracts have been unconditionally exchanged and the significant risks and rewards of ownership have been transferred.
An investment property is derecognised for accounting purposes upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying value) is recognised in profit or loss in the period the asset is derecognised.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities; with said financial assets and liabilities classified in accordance with the substance of the underlying contractual obligations rather than its legal form.
Financial assets and liabilities are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or the financial asset is transferred along with substantially all the risks and rewards of ownership of the asset to another party. Financial liabilities are derecognised only when the Company’s obligations are discharged, cancelled or expired.
The measurement of specific financial assets, financial liabilities, and equity held by the Company is as outlined below:
Debtors (excluding deferred tax assets (see note 2.7) are initially measured at transaction price (i.e fair value) and subsequently held, at transaction price less provision for impairment.
Creditors are initially measured and subsequently held at transaction price.
Bank loans are initially measured at fair value and subsequently held at amortised cost using the effective interest method.
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P D EAGLEHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
Ordinary share capital, shown in equity, is initially measured and subsequently held at its nominal value. Where the transaction price for issued shares exceeds their nominal value, the difference is shown under equity in a share premium account with any directly attributable transaction costs associated with the issuing of said shares deducted from said share premium account.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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In the application of the Company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. Although the expected outcome of said estimates and assumptions will, by definition, seldom equal the related actual results; estimates and judgments made are continually re-evaluated and are based on historical experience as well as other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical judgments in applying the entity’s accounting policies
The valuation of investment properties involves the application, and therefore significant judgment, of unobservable inputs.
Critical accounting estimates and assumptions
The estimates and assumptions that are considered as having a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial period are addressed below:
Investment properties
∙The fair value of investment properties is determined annually by the directors on an open market value basis by reference to specific advice from third party experts and available market evidence. In determining the fair value, a number of estimates and assumptions are required based on the property market as a whole and rental yields, nature, location and condition of the specific investment property.
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The Company has no employees other than the directors, who did not receive any remuneration.
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The average monthly number of employees, including directors, during the period was 0.
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P D EAGLEHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
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Long term leasehold investment property
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The 2025 valuations were made by the director, on an open market value for existing use basis.
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Due after more than one year
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Bank loans amounting to £398.976 are secured by way of a first legal charge over the investment property held by the Company.
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P D EAGLEHURST LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 FEBRUARY 2025
Investment property revaluation reserve
Investment property revaluation reserves comprise of all current and prior non-distributable gains and losses net of deferred taxation in respect of fair value movements on revaluation of investment properties held by the company.
Profit and loss account
The profit and loss account includes all current and prior period retained profits and (losses) net of amounts distributed to the Company's equity shareholders.
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Related party transactions
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At the balance sheet date, £329,472 was owed by the Company to the director. Amounts owed were unsecured, non-interest bearing and repayable on demand with no fixed date for repayment.
There were no other related party transactions and/or period end balances to report in accordance with Financial Reporting Standard 102 or the Companies Act 2006 as part of these financial statements.
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The immediate parent undertaking is Adler Group Holdings Limited, a company incorporated under the UK Companies Act 2006, which holds a 100% interest in the total voting rights of the Company.
Adler Group Holdings Limited, whose registered office is located at 124 Finchley Road, London, NW3 5JS is the parent undertaking of the smallest group to consolidate these financial statements.
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