E & J Tate Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 02953296

E & J Tate Limited

Filleted Unaudited Financial Statements

31 December 2018

E & J Tate Limited

Statement of Financial Position

31 December 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	4		1,977,038	1,977,038

Current assets

Debtors	5	812,710	775,420
Cash at bank and in hand		250,716	321,311
		------------	------------
		1,063,426	1,096,731

Creditors: amounts falling due within one year	6	2,286,733		2,306,580
		------------		------------
Net current liabilities			1,223,307	1,209,849
			------------	------------
Total assets less current liabilities			753,731	767,189
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	753,729	767,187
	---------	---------
Shareholders funds	753,731	767,189
	---------	---------

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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

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

E & J Tate Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 20 April 2020 , and are signed on behalf of the board by:

E Tajtelbaum

Director

Company registration number: 02953296

E & J Tate Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures & Fittings	-	25% of cost

No provision has been made for depreciation of freehold buildings.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Land and buildings	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2018 and 31 December 2018	1,977,038	5,860	1,982,898
	------------	-------	------------
Depreciation
At 1 January 2018 and 31 December 2018	–	5,860	5,860
	------------	-------	------------
Carrying amount
At 31 December 2018	1,977,038	–	1,977,038
	------------	-------	------------
At 31 December 2017	1,977,038	–	1,977,038
	------------	-------	------------

The investment properties were valued by the directors as at 31 December 2018 having considered the open market value of the properties. No independent valuation was undertaken.

5. Debtors

	2018	2017
	£	£
Other debtors	812,710	775,420
	---------	---------

6. Creditors: amounts falling due within one year

	2018	2017
	£	£
Other creditors	2,286,733	2,306,580
	------------	------------