E and S Estates Limited - Accounts to registrar (filleted) - small 18.2
E and S Estates Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2019 |
| for |
| E AND S ESTATES LIMITED |
| E AND S ESTATES LIMITED (REGISTERED NUMBER: 03210336) |
| Contents of the Financial Statements |
| for the year ended 31 March 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| E AND S ESTATES LIMITED |
| Company Information |
| for the year ended 31 March 2019 |
| Directors: |
| Registered office: |
| Registered number: |
| Auditors: |
| Chartered Accountants and Statutory Auditor |
| Sterling House |
| 19/23 High Street |
| Kidlington |
| Oxfordshire |
| OX5 2DH |
| E AND S ESTATES LIMITED (REGISTERED NUMBER: 03210336) |
| Balance Sheet |
| 31 March 2019 |
| 31/3/19 | 31/3/18 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Investments | 3 |
| Current assets |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 4 |
| Net current (liabilities)/assets | ( |
) |
| Total assets less current liabilities |
| Provisions for liabilities |
| Net assets |
| Capital and reserves |
| Called up share capital |
| Share premium | 5 |
| Foreign exchange |
| translation reserve | 5 | ( |
) |
| Retained earnings | 5 |
| Shareholders' funds |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on by: |
| E AND S ESTATES LIMITED (REGISTERED NUMBER: 03210336) |
| Notes to the Financial Statements |
| for the year ended 31 March 2019 |
| 1. | Statutory information |
| E and S Estates Limited is a |
| 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 |
| Investments in subsidiaries |
| The investment in subsidiary undertakings are recognised at cost less provision for diminution in value. |
| Monetary items which are denominated in foreign currency, such as loans and dividends receivable, which |
| form part of the net investment in the subsidiary, are translated into sterling at the balance sheet date with the |
| gain or loss on translation being recognised in Other Comprehensive Income. |
| 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. |
| E AND S ESTATES LIMITED (REGISTERED NUMBER: 03210336) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2019 |
| 2. | Accounting policies - continued |
| 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. |
| Monetary items which are denominated in foreign currency, such as loans and dividends receivable which |
| form part of the net investment in the subsidiary, are translated into sterling at the balance sheet date with the |
| gain or loss on translation being recognised in Other Comprehensive Income. This is a departure from Section |
| 30 of Financial Reporting Standard 102, which requires that any gain or loss on translation be recognised in |
| the Income Statement. |
| This departure is a true and fair override as the settlement of the loan and dividend receivable balances which |
| form part of the net investment in the associate is neither planned, nor likely to occur in the foreseeable future, |
| therefore it is believed that the recognition of temporary differences in exchange rates in the Income Statement |
| would be misleading in these circumstances. |
| Going concern |
| The directors have made an assessment of the company's ability to continue as a going concern and have |
| identified that E and S Estates Poland Sp Zoo, a company that E and S Estates Ltd owns a 50% stake in, has |
| net liabilities at the year end of £1,048,048. The Directors have written down the value of the company's |
| investment in E and S Estates Poland Sp zoo by a further £65,775 in the year to reflect the financial position of |
| E and S Estates Poland Sp Zoo at 31 March 2019. The company is reliant on the financial support of its parent |
| company First Property Group Plc to ensure that it can continue as a going concern for the foreseeable future. |
| 3. | Fixed asset investments |
| 31/3/19 | 31/3/18 |
| £ | £ |
| Shares in group undertakings |
| Loans to group undertakings |
| Additional information is as follows: |
| Shares in |
| group |
| undertakings |
| £ |
| Cost |
| At 1 April 2018 |
| and 31 March 2019 |
| Net book value |
| At 31 March 2019 |
| At 31 March 2018 |
| E AND S ESTATES LIMITED (REGISTERED NUMBER: 03210336) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2019 |
| 3. | Fixed asset investments - continued |
| Loans to |
| group |
| undertakings |
| £ |
| At 1 April 2018 |
| New in year |
| Provision in year | ( |
) |
| At 31 March 2019 |
| The long term loans and dividend receivable due from E and S Estates Poland Sp Zoo are included as part of |
| the net investment in the company. |
| 4. | Creditors: amounts falling due within one year |
| 31/3/19 | 31/3/18 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Other creditors |
| 5. | Reserves |
| Foreign |
| exchange |
| Retained | Share | translation |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 April 2018 | 432,410 |
| Deficit for the year | ( |
) | ( |
) |
| Net unrealised exchange losses | ( |
) | ( |
) |
| At 31 March 2019 | ( |
) | 330,080 |
| The Foreign exchange translation reserve is made up of the unrealised losses of £31,137 arising from the |
| retranslation at the year end of the Zloty loans and dividends receivable that are included in investments. |
| 6. | Disclosure under Section 444(5B) of the Companies Act 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 7. | Related party disclosures |
| Included in creditors due within one year is an interest free loan of £34,686 received from its parent company |
| First Property Group Plc. |
| E AND S ESTATES LIMITED (REGISTERED NUMBER: 03210336) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2019 |
| 8. | Ultimate controlling party |
| The ultimate controlling party is |