EDDLESTON_INVESTMENT_MANA - Accounts

EDDLESTON INVESTMENT MANAGEMENT LIMITED - Company Information

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Company Registration No. 02100053 (England and Wales)

EDDLESTON INVESTMENT MANAGEMENT LIMITED

DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

EDDLESTON INVESTMENT MANAGEMENT LIMITED

COMPANY INFORMATION

Director

R T Eddleston

Secretary

R D Eddleston

Company number

02100053

Registered office

42 Burdon Lane

Cheam

Surrey

Accountants

Lentells Limited

50 Fore Street

Seaton

Devon

EX12 2AD

Business address

42 Burdon Lane

Cheam

Surrey

SM2 7PT

EDDLESTON INVESTMENT MANAGEMENT LIMITED

CONTENTS

Page

Director's report

Accountants' report

Profit and loss account

Balance sheet

4 - 5

Notes to the financial statements

6 - 10

EDDLESTON INVESTMENT MANAGEMENT LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2014

- 1 -

The director presents his report and financial statements for the year ended 31 December 2014.

Principal activities

The principal activity of the company is holding various securities from which it receives investment income.

Director

The following director has held office since 1 January 2014:

R T Eddleston

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

R T Eddleston

Director

10 June 2015

EDDLESTON INVESTMENT MANAGEMENT LIMITED

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EDDLESTON INVESTMENT MANAGEMENT LIMITED FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eddleston Investment Management Limited for the year ended 31 December 2014 set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Eddleston Investment Management Limited, as a body, in accordance with the terms of our engagement letter dated 17 May 2011. Our work has been undertaken solely to prepare for your approval the financial statements of Eddleston Investment Management Limited and state those matters that we have agreed to state to the Board of Directors of Eddleston Investment Management Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eddleston Investment Management Limited and it's Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Eddleston Investment Management 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 profit of Eddleston Investment Management Limited. You consider that Eddleston Investment Management 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 Eddleston Investment Management 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.

Lentells Limited

10 June 2015

Chartered Certified Accountants

50 Fore Street

Seaton

Devon

EX12 2AD

EDDLESTON INVESTMENT MANAGEMENT LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

2014

2013

Notes

Turnover

60,951

41,992

Cost of sales

(1)

Gross profit

60,951

41,991

Administrative expenses

(30,621)

(39,525)

Other operating income

41,955

287,881

Operating profit

72,285

290,347

Other interest receivable and similar income

Profit on ordinary activities before taxation

72,285

290,401

Tax on profit on ordinary activities

(7,572)

(44,536)

Profit for the year

64,713

245,865

EDDLESTON INVESTMENT MANAGEMENT LIMITED

BALANCE SHEET

AS AT

31 DECEMBER 2014

- 4 -

2014

2013

Notes

Fixed assets

Tangible assets

5 & 6

1,014,869

1,019,717

Investments

938,958

956,342

1,953,827

1,976,059

Current assets

Debtors

2,424

556

Cash at bank and in hand

8,451

10,602

10,875

11,158

Creditors: amounts falling due within one year

(385,421)

(464,220)

Net current liabilities

(374,546)

(453,062)

Total assets less current liabilities

1,579,281

1,522,997

Creditors: amounts falling due after more than one year

(8,500)

Provisions for liabilities

(201)

(130)

1,579,080

1,514,367

Capital and reserves

Called up share capital

315,829

Share premium account

15,621

Profit and loss account

1,247,630

1,182,917

Shareholders' funds

1,579,080

1,514,367

EDDLESTON INVESTMENT MANAGEMENT LIMITED

BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2014

- 5 -

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has 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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board for issue on 10 June 2015

R T Eddleston

Director

Company Registration No. 02100053

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 6 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

2% straight line

Fixtures, fittings & equipment

25% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Taxation

2014

2013

Domestic current year tax

U.K. corporation tax

7,501

46,299

Adjustment for prior years

(1,884)

Total current tax

7,501

44,415

Deferred tax

Origination and reversal of timing differences

121

7,572

44,536

Operating profit

2014

2013

Operating profit is stated after charging:

Depreciation of tangible assets

5,562

5,431

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 7 -

Investment income

2014

2013

Other interest

Tangible fixed assets

Land and buildings

Plant and machinery etc

Total

Cost

At 1 January 2014

262,085

31,115

293,200

Additions

714

At 31 December 2014

262,085

31,829

293,914

Depreciation

At 1 January 2014

78,627

30,548

109,175

Charge for the year

5,242

320

5,562

At 31 December 2014

83,869

30,868

114,737

Net book value

At 31 December 2014

178,216

961

179,177

At 31 December 2013

183,458

567

184,025

Tangible fixed assets

Investment properties

Cost

At 1 January 2014 & at 31 December 2014

835,692

Net book value

At 31 December 2014

835,692

At 31 December 2013

835,692

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 8 -

Fixed asset investments

Listed investments

Unlisted investments

Shares in group undertakings and participating interests

Total

Cost

At 1 January 2014

824,640

83,071

48,630

956,341

Additions

3,001

14,003

17,004

Disposals

(34,387)

At 31 December 2014

793,254

97,074

48,630

938,958

Net book value

At 31 December 2014

793,254

97,074

48,630

938,958

At 31 December 2013

824,640

83,072

48,630

956,342

Market value

Director's valuation

Total

At 31 December 2014

1,251,877

54,517

1,306,394

At 31 December 2013

1,112,520

62,440

1,174,960

Debtors

2014

2013

Other debtors

2,424

556

Creditors: amounts falling due within one year

2014

2013

Taxation and social security

7,501

46,299

Other creditors

377,920

417,921

385,421

464,220

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 9 -

Creditors: amounts falling due after more than one year

2014

2013

Other creditors

8,500

Analysis of loans

Wholly repayable within five years

8,500

Provisions for liabilities

Deferred tax liability

Balance at 1 January 2014

130

Profit and loss account

Balance at 31 December 2014

201

The deferred tax liability is made up as follows:

2014

2013

Accelerated capital allowances

201

130

Share capital

2014

2013

Allotted, called up and fully paid

315,829 Ordinary Shares of £1 each

315,829

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 10 -

Statement of movements on reserves

Share premium account

Profit
and loss
account

Balance at 1 January 2014

15,621

1,182,917

Profit for the year

64,713

Balance at 31 December 2014

15,621

1,247,630

Control

The company is controlled by Roger Eddleston by virtue of his shareholding.

Financial commitments

The company is committed over the next twelve months to ground rent and service charges of £5,348

Related party relationships and transactions

A loan of £8,500 has been repaid to Future Trends Ltd.

At 31st December 2014 the company owed it's director, Mr Roger Eddleston, £376,000 (2013 - £416,000). This being shown within 'other creditors'. The loan is interest free and there is no fixed date of repayment.