Extrahold Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 07035579

Extrahold Limited

Filleted Unaudited Financial Statements

31 January 2020

Extrahold Limited

Statement of Financial Position

31 January 2020

	2020		2019
Note	£	£	£

Fixed assets

Tangible assets	4	924	2,082
Investment property	5	2,945,317	2,945,317
		------------	------------
		2,946,241	2,947,399

Current assets

Debtors	6	20,554	9,635
Cash at bank and in hand		10,527	39,072
		--------	--------
		31,081	48,707

Creditors: amounts falling due within one year	7	1,330,589		1,349,329
		------------		------------
Net current liabilities			1,299,508	1,300,622
			------------	------------
Total assets less current liabilities			1,646,733	1,646,777

Creditors: amounts falling due after more than one year	8		1,349,433	1,394,351

Provisions

Taxation including deferred tax	176	396
	------------	------------
Net assets	297,124	252,030
	------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	297,024	251,930
	---------	---------
Shareholders funds	297,124	252,030
	---------	---------

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 Section 1A of 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 income statement has not been delivered.

For the year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Extrahold Limited

Statement of Financial Position (continued)

31 January 2020

These financial statements were approved by the board of directors and authorised for issue on 18 January 2021 , and are signed on behalf of the board by:

Mr S L Pattinson
Director

Company registration number: 07035579

Extrahold Limited

Notes to the Financial Statements

Year ended 31 January 2020

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lion House, 400 Durham Road, Birtley, Co Durham, DH3 1LS.

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.

Revenue recognition

Turnover represents rental income received. Rental income is recognised on an accruals basis.

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.

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 and fittings	-	20% straight line

Investment property

Investment property is shown at cost. The director does not believe that the market value is materially different to the value shown in the accounts.

4. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 February 2019 and 31 January 2020	21,316	21,316
	--------	--------
Depreciation
At 1 February 2019	19,234	19,234
Charge for the year	1,158	1,158
	--------	--------
At 31 January 2020	20,392	20,392
	--------	--------
Carrying amount
At 31 January 2020	924	924
	--------	--------
At 31 January 2019	2,082	2,082
	--------	--------

5. Investment property

	Investment property
	£
Cost
At 1 February 2019 and 31 January 2020	2,945,317
	------------
Impairment
At 1 February 2019 and 31 January 2020	–
	------------

Carrying amount
At 31 January 2020	2,945,317
	------------
At 31 January 2019	2,945,317
	------------

Investment property is shown at cost. The director does not believe that the market value is materially different to the value shown in the accounts.

6. Debtors

	2020	2019
	£	£
Trade debtors	11,065	–
Other debtors	9,489	9,635
	--------	-------
	20,554	9,635
	--------	-------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	43,627	40,860
Trade creditors	2,694	–
Amounts owed to group undertakings and undertakings in which the company has a participating interest	21,000	21,000
Corporation tax	10,798	13,110
Other creditors	1,252,470	1,274,359
	------------	------------
	1,330,589	1,349,329
	------------	------------

8. Creditors: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	1,349,433	1,394,351
	------------	------------

Included within creditors due within 1 year and due in more than 1 year are the following secured debts: Bank Loans £1,393,060 (2019: £1,435,211) The bank loans and overdraft are secured by way of a mortgage debenture over the investment properties of the company.

9. Related party transactions

Included in creditors due within one year is £1,242,774 (2019: £1,263,432) owed to the director of the company, his close family members and companies in which the director has an interest.