The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Eastcote Land Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old House, 64 The Avenue, Egham, TW20 9AD.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements of the company are consolidated in the financial statements of Eastcote Holdings Limited. The registered address of the immediate parent company is The Old House, 64 The Avenue, Egham, TW20 9AD. These consolidated financial statements are available from Companies House, Crown Way, Cardiff, CF14 3UZ.

Notwithstanding the loss for the year, the director is confident in the long term profitability of the company and has no reason to doubt the intention of funders and investors to continue to provide financial support to enable the company to meet its obligations as they fall due. Accordingly the financial statements have been prepared on a going concern basis.true

Revenue from sales of retirement living units is recognised upon signature of the completion agreement. This is when the significant risks and rewards of ownership have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Retirement living units are sold on a long leasehold basis.

Revenue from service charges is recognised on an accruals basis.

Revenue recognition and deferred income

In respect of initial and subsequent sales of retirement living units, each tenant enters into a long term leasehold  agreement which includes a commitment to pay a community facility fee to the company, to meet the operating expenses of services provided during the period of ownership including lease transfer costs at the end of the tenancy.  This fee is calculated by reference to a variable percentage of selling price at the end of the tenancy, which increases depending on the number of years of ownership, up to a pre-determined cap. 

Given the contingent timing of the event, together with the uncertainty over future selling price and the variability of the percentage to be applied, such revenue cannot be quantified with reasonable certainty at the beginning of the tenancy and accordingly is accounted for at the end.  Each tenant may elect to pay an upfront, fixed purchase fee in place of the community facility fee at the beginning of the tenancy; for consistency of revenue recognition these purchase fees are also deferred until the end of the tenancy.

Development property held for resale is valued at the purchase or construction price including related legal, professional and consultancy expenditure and any irrecoverable VAT. The value is reviewed at the balance sheet date and any permanent diminution in value is provided for in the profit or loss account.

Cash and cash equivalents are basic financial assets and represent cash in hand and deposits held at call with banks.

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, which include debtors and cash and bank balances, are initially measured at transaction price. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, including creditors, bank loans and loans from fellow group companies, 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.

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

The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are enacted or substantively enacted at the balance sheet date. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

During the current and preceding periods, the average monthly number of persons employed by the company was nil.

Other creditors due in greater than one year includes notional interest owed to group undertakings.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Certain entities in the group headed by Cinnamon Care Homes LP are party to unlimited cross guarantees in favour of Virgin Money, in respect of borrowings of various group companies. The entities party to this guarantee are as follows:

As at 31 March 2025, the net borrowings encompassed by the cross guarantee were £7,261,800 (2024: £7,261,800).

The company has taken advantage of the available exemption in Financial Reporting Standard 102 Section 33 "Related party disclosures" and has not disclosed transactions with group undertaking for entities within the group headed by Eastcote Holdings Limited.

At the balance sheet date, the company owed £90,000 (2024: £90,000) to Waterlooville Care Limited, a fellow member of the group headed by Cinnamon Care Homes LP. The balance is interest free and repayable on demand and has therefore been classified as falling due within one year.

At the balance sheet date the company owed £1,364 (2024: £2,416) to Cinnamon Care Collection Limited ("CCC"), a related party by virtue of common directorship. The balance is interest free and repayable on demand and have been classified as falling due within one year.