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Company No: 10915120 (England and Wales)

# BOVINGDONS REAL ESTATE LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BOVINGDONS REAL ESTATE LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BOVINGDONS REAL ESTATE LIMITED

## COMPANY INFORMATION

For the financial year ended 31 December 2024
BOVINGDONS REAL ESTATE LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 December 2024

DIRECTORS | Mr. C. Bovingdon
| Mr. S. Burroughs
| Ms. I. Newton
| Mr. P. Newton

REGISTERED OFFICE | 1-2 Burkes Court Station Road
| Beaconsfield
| HP9 1QR
| United Kingdom

COMPANY NUMBER | 10915120 (England and Wales)

ACCOUNTANT | Verallo
| Century House
| Wargrave Road
| Henley-on-Thames
| Oxfordshire
| United Kingdom
| RG9 2LT

BOVINGDONS REAL ESTATE LIMITED

## BALANCE SHEET

As at 31 December 2024
BOVINGDONS REAL ESTATE LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 153,385 |  | 44,371
|  | 153,385 |  | 44,371
Current assets |  |  |  |
Debtors | 4 | 141,008 |  | 483,867
Cash at bank and in hand |  | 370,038 |  | 145,921
|  | 511,046 |  | 629,788
Creditors: amounts falling due within one year | 5 | ( 534,635) |  | ( 404,312)
Net current (liabilities)/assets |  | (23,589) |  | 225,476
Total assets less current liabilities |  | 129,796 |  | 269,847
Creditors: amounts falling due after more than one year | 6 | ( 106,402) |  | ( 68,543)
Net assets |  | 23,394 |  | 201,304
Capital and reserves |  |  |  |
Called-up share capital | 7 | 106 |  | 106
Share premium account |  | 22,862 |  | 22,862
Capital redemption reserve |  | 6 |  | 6
Profit and loss account |  | 420 |  | 178,330
Total shareholders' funds |  | 23,394 |  | 201,304

For the financial year ending 31 December 2024 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 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 Bovingdons Real Estate Limited (registered number: 10915120) were approved and authorised for issue by the Board of Directors on 11 March 2026. They were signed on its behalf by:

Mr. C. Bovingdon Director |

BOVINGDONS REAL ESTATE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BOVINGDONS REAL ESTATE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 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 year, unless otherwise stated.

##### General information and basis of accounting

Bovingdons Real Estate 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 1-2 Burkes Court Station Road, Beaconsfield, HP9 1QR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### 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, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | depreciated over the life of the lease
Vehicles | 15 % reducing balance
Fixtures and fittings | 20 % reducing balance
Computer equipment | 20 % 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.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### 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, 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.

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, 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.

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

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 8 |  | 8

#### 3. Tangible assets

| Leasehold improve- ments |  | Vehicles |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 January 2024 | 57,527 |  | 0 |  | 7,950 |  | 24,279 |  | 89,756
Additions | 0 |  | 120,200 |  | 0 |  | 2,485 |  | 122,685
At 31 December 2024 | 57,527 |  | 120,200 |  | 7,950 |  | 26,764 |  | 212,441
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 January 2024 | 28,607 |  | 0 |  | 5,210 |  | 11,568 |  | 45,385
Charge for the financial year | 5,753 |  | 4,508 |  | 548 |  | 2,862 |  | 13,671
At 31 December 2024 | 34,360 |  | 4,508 |  | 5,758 |  | 14,430 |  | 59,056
Net book value |  |  |  |  |  |  |  |  |
At 31 December 2024 | 23,167 |  | 115,692 |  | 2,192 |  | 12,334 |  | 153,385
At 31 December 2023 | 28,920 |  | 0 |  | 2,740 |  | 12,711 |  | 44,371

Included in the net book value is £115,692 (2023 - £nil) relating to assets held under hire purchase. The depreciation charged in relation to these assets amounted to £4,508 (2023 - £nil).

#### 4. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 107,340 |  | 178,619
Amounts owed by Group undertakings | 0 |  | 272,309
Prepayments | 18,846 |  | 18,112
Other debtors | 14,822 |  | 14,827
| 141,008 |  | 483,867

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

| 2024 |  | 2023
| £ |  | £
Bank loans | 45,067 |  | 41,600
Trade creditors | 19,287 |  | 7,415
Amounts owed to Group undertakings | 198,657 |  | 133,208
Accruals | 4,355 |  | 4,683
Corporation tax | 166,996 |  | 123,474
Other taxation and social security | 77,549 |  | 89,099
Obligations under finance leases and hire purchase contracts | 16,121 |  | 0
Other creditors | 6,603 |  | 4,833
| 534,635 |  | 404,312

The aggregate amount of creditors for which security has been given by the company amounted to £61,188 (2023 - £41,600).

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

| 2024 |  | 2023
| £ |  | £
Bank loans | 20,009 |  | 68,543
Obligations under finance leases and hire purchase contracts | 86,393 |  | 0
| 106,402 |  | 68,543

The aggregate amount of creditors for which security has been given by the company amounted to £106,402 (2023 - £68,543).

#### 7. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100
6 Ordinary C shares of £ 1.00 each | 6 |  | 6
| 106 |  | 106

#### 8. Financial commitments

Commitments

| 2024 |  | 2023
| £ |  | £
Total future minimum lease payments under non-cancellable operating leases | 32,163 |  | 84,651

#### 9. Ultimate controlling party

The company remained under the control of Mr C. Bovingdon during the year by virtue of his majority shareholding in Bovingdons Real Estate Holdings Limited, the company's immediate parent company.