Powdermill Estates Limited - Accounts to registrar (filleted) - small 18.2

Powdermill Estates Limited - Accounts to registrar (filleted) - small 18.2

POWDERMILL ESTATES LIMITED - Company Information

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REGISTERED NUMBER: 03692994 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

POWDERMILL ESTATES LIMITED
POWDERMILL ESTATES LIMITED (REGISTERED NUMBER: 03692994)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 5

POWDERMILL ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2020







DIRECTOR: J Cowpland





SECRETARY: J Cowpland





REGISTERED OFFICE: 28 Wilton Road
BEXHILL ON SEA
East Sussex
TN40 1EZ





REGISTERED NUMBER: 03692994 (England and Wales)





ACCOUNTANTS: Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ
Page 1
POWDERMILL ESTATES LIMITED (REGISTERED NUMBER: 03692994)

BALANCE SHEET
31 MARCH 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 63 84
Investments 5 2,692,709 2,715,404
2,692,772 2,715,488

CURRENT ASSETS
Debtors 6 263 263
Cash at bank 6,536 6,536
6,799 6,799
CREDITORS
Amounts falling due within one year 7 363,308 381,990
NET CURRENT LIABILITIES (356,509 ) (375,191 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,336,263 2,340,297

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,336,163 2,340,197
SHAREHOLDERS' FUNDS 2,336,263 2,340,297

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 February 2021 and were signed by:




J Cowpland - Director


The notes form part of these financial statements

Page 2
POWDERMILL ESTATES LIMITED (REGISTERED NUMBER: 03692994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020

1. STATUTORY INFORMATION

Powdermill Estates Limited 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.

The directors have made an assessment about the company's ability to continue as a going concern and they do not consider there to be any material uncertainties. As a result they have adopted the going concern basis of accounting.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2019
and 31 March 2020 3,525
DEPRECIATION
At 1 April 2019 3,441
Charge for year 21
At 31 March 2020 3,462
NET BOOK VALUE
At 31 March 2020 63
At 31 March 2019 84

Page 3 continued...
POWDERMILL ESTATES LIMITED (REGISTERED NUMBER: 03692994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2020

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2019 2,715,404
Disposals (22,695 )
At 31 March 2020 2,692,709
NET BOOK VALUE
At 31 March 2020 2,692,709
At 31 March 2019 2,715,404

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
VAT 263 263

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Tax - 18,682
Directors' current accounts 363,308 363,308
363,308 381,990

8. RELATED PARTY DISCLOSURES

The company is a member of the partnership trading as Powdermills Hotel. Mrs J Cowpland is also a member of the partnership and continues to be a director of Powdermill Estates Ltd. The balance on the company's capital account with the partnership at 31 March 2020 was £2,692,709.

The director has a loan account with the company and at 31 March 2020 the balance due to her was £363,308.There are no terms attached to this loan.

Page 4
ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
POWDERMILL ESTATES LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Powdermill Estates Limited for the year ended 31 March 2020 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Powdermill Estates Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Powdermill Estates Limited and state those matters that we have agreed to state to the director of Powdermill Estates Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Powdermill Estates Limited and its director for our work or for this report.

It is your duty to ensure that Powdermill Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Powdermill Estates Limited. You consider that Powdermill Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Powdermill Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Ashdown Hurrey
Chartered Accountants & Business Advisers
28 Wilton Road
Bexhill on Sea
East Sussex
TN40 1EZ


19 February 2021

This page does not form part of the statutory financial statements

Page 5