Company No: 06775508 (England and Wales)

Contents

• Company Information
• Statement of Financial Position
• Notes to the Financial Statements

DIRECTORS	M R Ellis
	E A Ellis

REGISTERED OFFICE	1st Floor Wilson's Chambers
	13 Commerical Street
	Hereford
	HR1 2DB
	United Kingdom

COMPANY NUMBER

06775508 (England and Wales)

CHARTERED ACCOUNTANTS	Bishop Fleming LLP
	1-3 College Yard
	Worcester
	WR1 2LB

	Note	2021		2020
		£		£
Fixed assets
Tangible assets	3	0		2,429
Investment property	4	2,480,000		2,480,000
Investments	5	181,097		19,070
		2,661,097		2,501,499
Current assets
Debtors
- due within one year	6	59,452		24,399
- due after more than one year	6	1,250,000		1,250,000
Cash at bank and in hand		402,293		466,321
		1,711,745		1,740,720
Creditors
Amounts falling due within one year	7	( 2,030,702)		( 1,961,205)
Net current liabilities		(318,957)		(220,485)
Total assets less current liabilities		2,342,140		2,281,014
Creditors
Amounts falling due after more than one year	8	( 771,615)		( 858,074)
Provisions for liabilities		( 27,353)		( 24,019)
Net assets		1,543,172		1,398,921
Capital and reserves
Called-up share capital		100		100
Profit and loss account		1,543,072		1,398,821
Total shareholders' funds		1,543,172		1,398,921

For the financial year ending 31 December 2021 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 Burlton Estates Limited (registered number: 06775508) were approved and authorised for issue by the Board of Directors on 13 June 2022. They were signed on its behalf by:

M R Ellis Director

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

Burlton Estates 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 1st Floor Wilson's Chambers, 13 Commerical Street, Hereford, HR1 2DB, 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 Statement of Financial Position 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

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 Statement of Financial Position 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 basis over its expected useful life, as follows:

Plant and machinery

10 years straight line

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 Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Comprehensive Income as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

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.

Investments
Investments in listed company shares are remeasured to market value at each Statement of Financial Position date. Gains and losses on re-measurement are recognised in profit or loss for the period.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2021		2020
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Tangible assets

	Plant and machinery		Total
	£		£
Cost
At 01 January 2021	24,291		24,291
At 31 December 2021	24,291		24,291
Accumulated depreciation
At 01 January 2021	21,862		21,862
Charge for the financial year	2,429		2,429
At 31 December 2021	24,291		24,291
Net book value
At 31 December 2021	0		0
At 31 December 2020	2,429		2,429

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2021	2,480,000
As at 31 December 2021	2,480,000

5. Fixed asset investments

	Listed investments		Total
	£		£
Carrying value before impairment
At 01 January 2021	40,011		40,011
Additions	165,753		165,753
Disposals	( 26,838)		( 26,838)
At 31 December 2021	178,926		178,926
Provisions for impairment
At 01 January 2021	20,941		20,941
Impairment	( 23,112)		( 23,112)
At 31 December 2021	( 2,171)		( 2,171)
Carrying value at 31 December 2021	181,097		181,097
Carrying value at 31 December 2020	19,070		19,070

6. Debtors

	2021		2020
	£		£
Debtors: amounts falling due within one year
Trade debtors	5,549		0
Prepayments	53,903		24,399
	59,452		24,399
Debtors: amounts falling due after more than one year
Amounts owed by associates	1,250,000		1,250,000

7. Creditors: amounts falling due within one year

	2021		2020
	£		£
Bank loans	83,333		83,333
Trade creditors	0		540
Amounts owed to directors	1,895,000		1,845,000
Accruals and deferred income	13,200		3,152
Corporation tax	31,708		24,988
Other taxation and social security	7,461		4,192
	2,030,702		1,961,205

8. Creditors: amounts falling due after more than one year

	2021		2020
	£		£
Bank loans	771,615		858,074

There are no amounts included above in respect of which any security has been given by the small entity.

9. Related party transactions

Transactions with entities in which the entity itself has a participating interest

	2021		2020
	£		£
Amounts owed by associates	1,250,000		1,250,000