Ellson Homes Ltd - Accounts to registrar (filleted) - small 18.2

ELLSON HOMES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G A Hanson

I A Gay

Mrs E V Hanson

SECRETARY:

Mrs E V Hanson

REGISTERED OFFICE:

Highfield House

The Meads

Leighterton

Gloucestershire

GL8 8UW

REGISTERED NUMBER:

05114668 (England and Wales)

ACCOUNTANTS:

Bowen Accountants Ltd

Chartered Accountants

Unit 1 Gate Farm

High Street

Sutton Benger

Chippenham

Wiltshire

SN15 4RE

FIXED ASSETS

Tangible assets

4

45,588

59,927

CURRENT ASSETS

Stocks

5

630,983

1,232,811

Debtors

6

2,014,047

4,114,807

Cash at bank

90,829

257,338

2,735,859

5,604,956

CREDITORS

Amounts falling due within one year

7

2,638,569

5,400,932

NET CURRENT ASSETS

97,290

204,024

TOTAL ASSETS LESS CURRENT LIABILITIES

142,878

263,951

CREDITORS

Amounts falling due after more than one year

8

(9,377

)

(20,629

)

PROVISIONS FOR LIABILITIES

10

(7,661

)

(11,386

)

NET ASSETS

125,840

231,936

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

125,830

231,926

SHAREHOLDERS' FUNDS

125,840

231,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 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 Board of Directors on 16 September 2019 and were signed on its behalf by:

G A Hanson - Director

1.	STATUTORY INFORMATION

Ellson Homes Ltd 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.

Turnover

Turnover represents the value of work completed under contracts to the extent that there is a right to consideration

and is recorded at the value of consideration due. Where a contract has only been partially completed at the balance

sheet date, turnover represents the value of the work to date based on the total expected consideration at completion.

These amounts are recorded as amounts recoverable on contracts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of

the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2018

7,646

121,859

10,806

140,311

Additions

-

-

1,655

1,655

At 31 December 2018

7,646

121,859

12,461

141,966

DEPRECIATION

At 1 January 2018

4,696

67,944

7,744

80,384

Charge for year

738

13,481

1,775

15,994

At 31 December 2018

5,434

81,425

9,519

96,378

NET BOOK VALUE

At 31 December 2018

2,212

40,434

2,942

45,588

At 31 December 2017

2,950

53,915

3,062

59,927

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2018

and 31 December 2018

95,546

DEPRECIATION

At 1 January 2018

48,351

Charge for year

11,800

At 31 December 2018

60,151

NET BOOK VALUE

At 31 December 2018

35,395

At 31 December 2017

47,195

5.

STOCKS

2018

2017

£

£

Work-in-progress

630,983

1,232,811

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

-

126

Amounts recoverable on contract

1,838,029

3,931,256

Other debtors

2,000

39,480

Directors' current accounts

93,990

47,657

Tax

18,717

13,086

VAT

60,715

82,531

Prepayments

596

671

2,014,047

4,114,807

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

1,031,121

Other loans

2,400,563

4,192,294

Hire purchase contracts

11,252

11,252

Trade creditors

123,935

101,673

Tax

40,751

35,120

Social security and other taxes

10,736

7,151

Other creditors

6,000

17,000

Credit Card 1

2,842

2,268

Accruals

42,490

3,053

2,638,569

5,400,932

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

9,377

20,629

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

-

1,031,121

10.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

7,661

11,386

Deferred

tax

£

Balance at 1 January 2018

11,386

Credit to Income Statement during year

(3,725

)

Balance at 31 December 2018

7,661

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2018 and

31 December 2017:

2018

2017

£

£

G A Hanson

Balance outstanding at start of year

21,518

8,391

Amounts advanced

74,096

71,793

Amounts repaid

(28,416

)

(58,666

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

67,198

21,518

I A Gay

Balance outstanding at start of year

26,139

25,471

Amounts advanced

653

668

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

26,792

26,139

Interest is being charged at the official rate of interest on the above loans.

12.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors who act in concert.