C H Ellis Limited - Accounts to registrar (filleted) - small 18.2

C H Ellis Limited - Accounts to registrar (filleted) - small 18.2

C.H. ELLIS LIMITED - Company Information

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REGISTERED NUMBER: 00737963 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 September 2018

for

C H Ellis Limited
C H Ellis Limited (Registered number: 00737963)






Contents of the Financial Statements
for the Year Ended 29 September 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C H Ellis Limited

Company Information
for the Year Ended 29 September 2018







DIRECTORS: Mr C R Ellis
Mr P C Ellis
Mr D P Ellis





SECRETARY: Mr C R Ellis





REGISTERED OFFICE: Wilson House
48 Brooklyn Road
Seaford
East Sussex
BN25 2DX





REGISTERED NUMBER: 00737963 (England and Wales)





ACCOUNTANTS: Swindells LLP
Chartered Accountants
Wilson House
48 Brooklyn Road
Seaford
East Sussex
BN25 2DX
Page 1
C H Ellis Limited (Registered number: 00737963)

Balance Sheet
29 September 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 958,433 994,773
Investments 5 53,904 58,955
Investment property 6 750,000 750,000
Herd 7 80,227 80,810
1,842,564 1,884,538

CURRENT ASSETS
Stocks 592,748 561,662
Debtors 8 163,332 185,783
Cash at bank 3,308 388
759,388 747,833
CREDITORS
Amounts falling due within one year 9 580,221 629,189
NET CURRENT ASSETS 179,167 118,644
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,021,731
2,003,182

CREDITORS
Amounts falling due after more than
one year
10
(349,047
)
(352,813
)

PROVISIONS FOR LIABILITIES (103,412 ) (98,048 )
NET ASSETS 1,569,272 1,552,321

CAPITAL AND RESERVES
Called up share capital 12 20,900 20,900
Capital redemption reserve 13 100 100
Fair value reserve 13 599,047 595,951
Retained earnings 13 949,225 935,370
SHAREHOLDERS' FUNDS 1,569,272 1,552,321

The notes form part of these financial statements

Page 2 continued...
C H Ellis Limited (Registered number: 00737963)

Balance Sheet - continued
29 September 2018


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 September 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 26 June 2019 and were signed on its
behalf by:





Mr C R Ellis - Director


The notes form part of these financial statements

Page 3
C H Ellis Limited (Registered number: 00737963)

Notes to the Financial Statements
for the Year Ended 29 September 2018

1. STATUTORY INFORMATION

C H Ellis 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents revenue, net of VAT, from commercial transactions under which the company
supplies customers the goods that it is in business to provide and it is recognised when it obtains,
through performance under contract, the right to consideration for those goods.

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

Asset classDepreciation rate
Farmhouse and farm buildingsNil
Freehold landNil
Freehold improvements10% reducing balance
Grain processing plant/siloStraight line over 20 years
Borehole25% reducing balance
Plant and machinery10%-25% reducing balance
Combine harvesters20% reducing balance
Tractors25% reducing balance
Motor vehicles25% reducing balance

Farmhouse and farm buildings have not been depreciated which is a departure from the
requirements of the Companies Act concerning the depreciation of fixed assets. The directors
consider that systematic annual depreciation would be inappropriate because it is anticipated that
residual values will exceed the carrying value of such assets which are maintained to a high standard.
The accounting policy adopted is therefore necessary for the financial statements to show a true and
fair view.

Page 4 continued...
C H Ellis Limited (Registered number: 00737963)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2018

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at fair value at each reporting date. Any aggregate surplus or deficit
arising from changes in fair value is recognised in profit or loss.

Herd
The cattle herd and sheep herd are valued annually under the herd basis.

Fixed asset investments
Unlisted fixed asset investments are stated at historical cost less provision for any diminution in
value.

Listed fixed asset investments are measured at fair value through the profit and loss account. The
fair value of £53,884 (2017 - £58,935) and the fair value loss of £5,051 (2017 - £472) included in
profit and loss account for the year was determined by reference to the bid price at the year end
date.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss
Account, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling
at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving
at the operating result.

Page 5 continued...
C H Ellis Limited (Registered number: 00737963)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2018

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes on behalf of directors and
employees. Contributions payable to the company's pension scheme are charged to profit or loss in
the period to which they relate.

Government grants
Government grants in respect of capital expenditure are credited to a deferred income account and
released to profit over the expected useful lives of the relevant assets in equal annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to
which they relate.

Going concern
The accounts have been prepared on a going concern basis as the directors have indicated their
intention to continue to support the company for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 10 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Borehole
£    £    £   
COST
At 30 September 2017 620,586 1,350,896 18,469
Additions - 11,355 -
At 29 September 2018 620,586 1,362,251 18,469
DEPRECIATION
At 30 September 2017 217,054 913,010 9,756
Charge for year 4,661 56,859 2,178
Eliminated on disposal - - -
At 29 September 2018 221,715 969,869 11,934
NET BOOK VALUE
At 29 September 2018 398,871 392,382 6,535
At 29 September 2017 403,532 437,886 8,713

Page 6 continued...
C H Ellis Limited (Registered number: 00737963)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2018

4. TANGIBLE FIXED ASSETS - continued

Motorised Computer
vehicles equipment Totals
£    £    £   
COST
At 30 September 2017 711,761 2,049 2,703,761
Additions 56,500 595 68,450
Disposals (4,995 ) - (4,995 )
At 29 September 2018 763,266 2,644 2,767,216
DEPRECIATION
At 30 September 2017 568,032 1,136 1,708,988
Charge for year 40,432 315 104,445
Eliminated on disposal (4,650 ) - (4,650 )
At 29 September 2018 603,814 1,451 1,808,783
NET BOOK VALUE
At 29 September 2018 159,452 1,193 958,433
At 29 September 2017 143,729 913 994,773

Included in cost of land and buildings is freehold land of £ 135,141 (2017 - £ 135,141 ) which is not
depreciated.

Included within the net book value of tangible fixed assets is £42,550 (2017 - £nil) in respect of
assets held under hire purchase contracts. Depreciation for the year on those assets was £3,450
(2017 - £nil).

5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 30 September 2017 58,935 20 58,955
Revaluations (5,051 ) - (5,051 )
At 29 September 2018 53,884 20 53,904
NET BOOK VALUE
At 29 September 2018 53,884 20 53,904
At 29 September 2017 58,935 20 58,955

The listed investments have a historical cost of £3,537 (2017 - £3,537).

Page 7 continued...
C H Ellis Limited (Registered number: 00737963)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2018

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 30 September 2017
and 29 September 2018 750,000
NET BOOK VALUE
At 29 September 2018 750,000
At 29 September 2017 750,000

The investment properties were valued on a fair value basis on 29 September 2018 by the directors
of the company.

If the investment properties had not been revalued they would have been included at an historical
cost of £45,428 (2017 - £45,428).

7. HERD
Sheep Cattle
herd herd Totals
£    £    £   
COST
At 30 September 2017 65,610 15,200 80,810
Change in valuation (2,183 ) 1,600 (583 )
At 29 September 2018 63,427 16,800 80,227
NET BOOK VALUE
At 29 September 2018 63,427 16,800 80,227
At 29 September 2017 65,610 15,200 80,810

8. DEBTORS
2018 2017
£    £   
Amounts falling due within one year:
Trade debtors 66,548 91,487
Other debtors 87,204 94,296
153,752 185,783

Page 8 continued...
C H Ellis Limited (Registered number: 00737963)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2018

8. DEBTORS - continued
2018 2017
£    £   
Amounts falling due after more than one year:
Other debtors 9,580 -

Aggregate amounts 163,332 185,783

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 323,138 395,236
Hire purchase contracts 11,500 -
Trade creditors 165,535 188,215
Taxation and social security 4,926 6,043
Other creditors 75,122 39,695
580,221 629,189

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Bank loans 330,839 352,813
Hire purchase contracts 18,208 -
349,047 352,813

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 232,580 250,655

Page 9 continued...
C H Ellis Limited (Registered number: 00737963)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2018

11. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank overdrafts 300,182 371,067
Bank loans 353,795 376,982
653,977 748,049

Bank borrowings are secured by way of a legal charge over the freehold property owned by the
company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
5,950 Ordinary A £1 5,950 5,950
10,450 Ordinary B £1 10,450 10,450
4,500 Ordinary C £1 4,500 4,500
20,900 20,900

All issued shares rank pari passu.

13. RESERVES
Capital Fair
Retained redemption value
earnings reserve reserve Totals
£    £    £    £   

At 30 September 2017 935,370 100 595,951 1,531,421
Profit for the year 27,401 - - 27,401
Dividends (10,450 ) - - (10,450 )
Transfer from/(to)
other reserve (3,096 ) - 3,096 -
At 29 September 2018 949,225 100 599,047 1,548,372

Page 10 continued...
C H Ellis Limited (Registered number: 00737963)

Notes to the Financial Statements - continued
for the Year Ended 29 September 2018

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company made advances to a director of £60,000 (2017 - £37,000) and was
repaid £60,000 (2017 - £13,518). At the year end the director owed the company £17,246 (2017 -
£17,246).

The loan is unsecured, interest free and repayable on demand.

In addition, the company was owed a trade debt of £12,230 (2017 - £21,328) by a business owned
by the director.

The company has also provided a guarantee on a bank loan to the director of £279,783 (2017:
£292,253) at the balance sheet date to give the lender security for the loan.

15. RELATED PARTY DISCLOSURES

At the year end the company owed two other directors and participators in the company the sum of
£38,003 (2017 - £8,002). The loans are unsecured, interest free and repayable on demand.

During the year the company was charged rent by the directors totalling £28,167 (2017 - £28,167).

Page 11