Everwood Estates Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05070332 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 27 MARCH 2023

FOR

EVERWOOD ESTATES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R G Park

REGISTERED OFFICE:

The Manor House

2 Totteridge Common

London

N20 8NL

REGISTERED NUMBER:

05070332 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

FIXED ASSETS

Tangible assets

4

197

263

Investments

5

21,707,482

21,372,576

Investment property

6

3,050,000

3,050,000

24,757,679

24,422,839

CURRENT ASSETS

Debtors

7

2,200

2,889

Investments

8

478,085

-

Cash at bank

2,323

1,926

482,608

4,815

CREDITORS

Amounts falling due within one year

9

226,006

1,312,784

NET CURRENT ASSETS/(LIABILITIES)

256,602

(1,307,969

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,014,281

23,114,870

CREDITORS

Amounts falling due after more than one year

10

(22,371,452

)

(20,470,057

)

PROVISIONS FOR LIABILITIES

11

(391,444

)

(391,444

)

NET ASSETS

2,251,385

2,253,369

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Revaluation reserve

13

2,096,258

2,096,258

Retained earnings

154,127

156,111

SHAREHOLDERS' FUNDS

2,251,385

2,253,369

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 27 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 27 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:

Mr R G Park - Director

1.	STATUTORY INFORMATION

Everwood Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

Cost

At 28 March 2022

and 27 March 2023

3,090

Depreciation

At 28 March 2022

2,827

Charge for year

66

At 27 March 2023

2,893

Net book value

At 27 March 2023

197

At 27 March 2022

263

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2023

2022

£

£

Park Investments London LLP

21,707,482

21,372,576

6.	INVESTMENT PROPERTY

Total

£

Cost or valuation

At 28 March 2022

and 27 March 2023

3,050,000

Net book value

At 27 March 2023

3,050,000

At 27 March 2022

3,050,000

Cost or valuation at 27 March 2023 is represented by:

£

Valuation in 2018

962,702

Valuation in 2022

1,525,000

Cost

562,298

3,050,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

2,200

2,889

8.	CURRENT ASSET INVESTMENTS

2023

2022

£

£

Investment in LLP

478,085

-

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

-

1,070,450

Trade creditors

29,317

55,647

Taxation and social security

1,841

2,631

Other creditors

194,848

184,056

226,006

1,312,784

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

22,371,452

20,470,057

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans - Limited

2,104,962

-

Repayable by instalments

Bank loans - LLP

20,266,490

20,470,057

11.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

391,444

391,444

Deferred

tax

£

Balance at 28 March 2022

391,444

Balance at 27 March 2023

391,444

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

13.

RESERVES

Revaluation

reserve

£

At 28 March 2022

and 27 March 2023

2,096,258