Evenbell Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08680951 (England and Wales)

EVENBELL PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs A S Bell

REGISTERED OFFICE:

Highland House

Mayflower Close

Chandler's Ford

Eastleigh

Hampshire

SO53 4AR

REGISTERED NUMBER:

08680951 (England and Wales)

BANKERS:

Handelsbanken

3 Carlton Crescent

Southampton

Hampshire

SO15 2EY

FIXED ASSETS

Tangible assets

3

61

180

Investment property

4

465,000

465,000

465,061

465,180

CURRENT ASSETS

Cash at bank

229,559

34,649

CREDITORS

Amounts falling due within one year

5

(575,346

)

(391,078

)

NET CURRENT LIABILITIES

(345,787

)

(356,429

)

TOTAL ASSETS LESS CURRENT LIABILITIES

119,274

108,751

PROVISIONS FOR LIABILITIES

(8,157

)

(9,009

)

NET ASSETS

111,117

99,742

CAPITAL AND RESERVES

Called up share capital

2

2

Non-distributable reserves

72,323

72,323

Retained earnings

38,792

27,417

SHAREHOLDERS' FUNDS

111,117

99,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 March 2019 and were signed by:

Mrs A S Bell - Director

1.	STATUTORY INFORMATION

Evenbell Properties 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 FRS102 "The Financial Reporting Standards

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 FRS102 have been applied other than where additional disclosure

is required to show a true and far 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 £1.

The financial statements have been prepared under the historical cost convention, modified to include certain

financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements are the first financial statements Evenbell Properties Limited have prepared in

accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and

Republic of Ireland' (FRS 102), as applied to smaller entities by the adoption of Section 1A of FRS102. The

financial statements of Evenbell Properties Limited for the year ended 30 September 2016 were prepared in

accordance with previous UK GAAP.

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy

choices differ from previous UK GAAP. Consequently, the directors have amended certain accounting policies

to comply with FRS 102.

Upon transition the company has reclassified the revaluation reserve as non-distributable reserves. and provided

for deferred tax set off against the non-distributable reserves.

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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

20% Straight line

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.

In accordance with the Financial Reporting Standard for Smaller Entities, no depreciation is provided in respect

of investment properties. This is a departure from the requirements of the Companies Act 2006, which requires

all properties to be depreciated. These properties are held for investment purposes only and the directors

consider that to depreciate them would not give a true and fair view. Depreciation is only one of many factors

reflected in the valuation of these properties and accordingly the amount of depreciation that might otherwise

have been charged cannot be separately identified or quantified. The directors consider that this policy results in

the financial statements giving a true and fair view.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Fixed assets

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 recognised in the income statement.

Financial assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes

party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables 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 financial transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and

subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the

debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct

issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the

discretion of the company.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 October 2017

and 30 September 2018

595

DEPRECIATION

At 1 October 2017

415

Charge for year

119

At 30 September 2018

534

NET BOOK VALUE

At 30 September 2018

61

At 30 September 2017

180

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2017

and 30 September 2018

465,000

NET BOOK VALUE

At 30 September 2018

465,000

At 30 September 2017

465,000

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

2,965

2,953

Other creditors

572,381

388,125

575,346

391,078