ELLOPHIE_LIMITED - Accounts


Company Registration No. 09689744 (England and Wales)
ELLOPHIE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019
PAGES FOR FILING WITH REGISTRAR
ELLOPHIE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ELLOPHIE LIMITED
BALANCE SHEET
AS AT 31 MAY 2019
31 May 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,557
12,421
Investment properties
4
546,750
546,750
557,307
559,171
Current assets
Debtors
5
16,926
17,805
Cash at bank and in hand
6,901
8,956
23,827
26,761
Creditors: amounts falling due within one year
6
(140,170)
(163,857)
Net current liabilities
(116,343)
(137,096)
Total assets less current liabilities
440,964
422,075
Creditors: amounts falling due after more than one year
7
(369,959)
(369,959)
Net assets
71,005
52,116
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
70,905
52,016
Total equity
71,005
52,116
ELLOPHIE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2019
31 May 2019
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

 

The financial statements were approved by the board of directors and authorised for issue on 26 February 2020 and are signed on its behalf by:
Mr S J Gaiger
Mrs L  Gaiger
Director
Director
Company Registration No. 09689744
ELLOPHIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019
- 3 -
1
Accounting policies
Company information

Ellophie Limited is a private company limited by shares incorporated in England and Wales, registration number 09689744. The registered office is The Hollies, Kings Road, Market Lavington, Devizes, Wiltshire, SP10 4PZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 FRS 102 have been applied other than where additional disclosure is required to show a true and fair 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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for student residential rentals.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% on a reducing balance basis

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 credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss

ELLOPHIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2019
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

1.6
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2018 - 2).

3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2018 and 31 May 2019
18,213
Depreciation and impairment
At 1 June 2018
5,792
Depreciation charged in the year
1,864
At 31 May 2019
7,656
Carrying amount
At 31 May 2019
10,557
At 31 May 2018
12,421
4
Investment property
2019
£
Fair value
At 1 June 2018 and 31 May 2019
546,750
ELLOPHIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2019
4
Investment property
(Continued)
- 5 -

The freehold investment property is shown at its fair value, this being SJ Gaiger's (Director) assessment of the fair value of the property based upon rent yields.

The investment property has been pledged to secure borrowings of the company. The company is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
16,053
16,858
Other debtors
873
947
16,926
17,805
6
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
3,819
200
Taxation and social security
4,868
4,544
Other creditors
131,483
159,113
140,170
163,857
7
Creditors: amounts falling due after more than one year
2019
2018
£
£
Other creditors
369,959
369,959

The long-term loans are secured by fixed charges over the investment properties.

 

The directors have also given personal guarantees.

 

 

Creditors which fall due after five years are as follows:
2019
2018
£
£
Payable other than by instalments
369,959
369,959
ELLOPHIE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2019
- 6 -
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary of £1 each
100
100
2019-05-312018-06-01false26 February 2020CCH SoftwareCCH Accounts Production 2019.301No description of principal activityMr S J GaigerMrs L Gaiger096897442018-06-012019-05-31096897442019-05-31096897442018-05-3109689744core:OtherPropertyPlantEquipment2019-05-3109689744core:OtherPropertyPlantEquipment2018-05-3109689744core:CurrentFinancialInstrumentscore:WithinOneYear2019-05-3109689744core:CurrentFinancialInstrumentscore:WithinOneYear2018-05-3109689744core:CurrentFinancialInstruments2019-05-3109689744core:CurrentFinancialInstruments2018-05-3109689744core:Non-currentFinancialInstruments2019-05-3109689744core:Non-currentFinancialInstruments2018-05-3109689744core:ShareCapital2019-05-3109689744core:ShareCapital2018-05-3109689744core:RetainedEarningsAccumulatedLosses2019-05-3109689744core:RetainedEarningsAccumulatedLosses2018-05-3109689744bus:Director12018-06-012019-05-3109689744bus:Director22018-06-012019-05-3109689744core:FurnitureFittings2018-06-012019-05-3109689744core:OtherPropertyPlantEquipment2018-05-3109689744core:OtherPropertyPlantEquipment2018-06-012019-05-31096897442018-05-3109689744core:WithinOneYear2019-05-3109689744core:WithinOneYear2018-05-3109689744bus:PrivateLimitedCompanyLtd2018-06-012019-05-3109689744bus:SmallCompaniesRegimeForAccounts2018-06-012019-05-3109689744bus:FRS1022018-06-012019-05-3109689744bus:AuditExemptWithAccountantsReport2018-06-012019-05-3109689744bus:FullAccounts2018-06-012019-05-31xbrli:purexbrli:sharesiso4217:GBP