Company No: 06775508 (England and Wales)

Contents

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

		2020		2019
	Note	£		£
Fixed assets
Tangible assets	3	2,429		4,858
Investment property		2,480,000		2,480,000
Investments	4	19,070		25,558
		2,501,499		2,510,416
Current assets
Debtors
- due within one year	5	24,399		85,548
- due after more than one year	5	1,250,000		1,250,000
Cash at bank and in hand		466,321		382,281
		1,740,720		1,717,829
Creditors
Amounts falling due within one year	6	( 1,961,205)		( 1,959,311)
Net current liabilities		(220,485)		(241,482)
Total assets less current liabilities		2,281,014		2,268,934
Creditors
Amounts falling due after more than one year	7	( 858,074)		( 944,532)
Provisions for liabilities		( 24,019)		( 24,020)
Net assets		1,398,921		1,300,382
Capital and reserves
Called-up share capital	8	100		100
Profit and loss account		1,398,821		1,300,282
Total shareholders' funds		1,398,921		1,300,382

For the financial year ending 31 December 2020 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 Act with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared 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 11 June 2021. 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.

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 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.

The functional currency of Burlton Estates Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

Going concern

The directors have reviewed budgets and forecasts for a period of 12 months following the date of approval of the financial statements and are of the opinion that the financial statements are correctly prepared on the going concern basis. The Company continues to hold healthy cash reserves and has a strong balance sheet given the investor support available. The directors have considered the going concern of the business in light of challenges faced in relation to COVID-19 and feel that the Company is well structured to respond to these challenges for the foreseeable future. The directors therefore continue to adopt the going concern basis in preparing these 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.

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 & machinery - 10% 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 are 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 include cash in hand, deposits held at call with banks 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.

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

	2020		2019
	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/Valuation
At 01 January 2020	24,291		24,291
At 31 December 2020	24,291		24,291
Accumulated depreciation
At 01 January 2020	19,433		19,433
Charge for the financial year	2,429		2,429
At 31 December 2020	21,862		21,862
Net book value
At 31 December 2020	2,429		2,429
At 31 December 2019	4,858		4,858

4. Fixed asset investments

	Listed investments		Total
	£		£
Carrying value before impairment
At 01 January 2020	44,269		44,269
Disposals	( 4,258)		( 4,258)
At 31 December 2020	40,011		40,011
Provisions for impairment
At 01 January 2020	18,711		18,711
Impairment	2,230		2,230
At 31 December 2020	20,941		20,941
Carrying value at 31 December 2020	19,070		19,070
Carrying value at 31 December 2019	25,558		25,558

5. Debtors

	2020		2019
	£		£
Debtors: amounts falling due within one year
Trade debtors	0		18,000
Prepayments	24,399		67,548
	24,399		85,548
Debtors: amounts falling due after more than one year
Amounts owed by associates	1,250,000		1,250,000

6. Creditors: amounts falling due within one year

	2020		2019
	£		£
Bank loans and overdrafts	83,333		83,333
Trade creditors	540		8,963
Amounts owed to directors	1,845,000		1,800,000
Accruals	3,152		24,190
Corporation tax	24,988		33,854
Other taxation and social security	4,192		8,971
	1,961,205		1,959,311

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

	2020		2019
	£		£
Bank loans	858,074		944,532

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

8. Called-up share capital

	2020		2019
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100

9. Related party transactions

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

	2020		2019
	£		£
Amounts owed by associates	1,250,000		1,250,000