3D Estates Limited
3D Estates Limited
Registered number: 04954718
Unaudited Financial Statements
For The Year Ended
31 December 2021
3D Estates Limited
Unaudited Financial Statements
For The Year Ended
31 December 2021
Unaudited Financial Statements
Contents | |
Page | |
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Statement of Financial Position | 1—2 |
Notes to the Financial Statements | 3—6 |
3D Estates Limited
Statement of Financial Position
As at
31 December 2021
Statement of Financial Position
Registered number:
04954718
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
2021 | 2020 | ||||
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Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Investments | 4 |
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CURRENT ASSETS | |||||
Debtors | 5 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 6 |
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NET CURRENT ASSETS (LIABILITIES) |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||
Called up share capital | 7 |
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Income Statement |
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SHAREHOLDERS' FUNDS | 368,040 | 324,991 | |||
3D Estates Limited
Statement of Financial Position (continued)
As at
31 December 2021
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Director
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The notes on pages 3 to 6 form part of these financial statements.
3D Estates Limited
Notes to the Financial Statements
For The Year Ended
31 December 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland’ (‘FRS 102’) and the Companies Act 2006.
1.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
1.3.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.
The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met for each of the company's activities described below.
Rental income is recognised in the profit and loss account on a straight line basis over the term of the lease. Dividend income is recognised when the right to receive payment is established.
1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.5.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to or from related parties and investments in non-puttable ordinary shares. During the year an interest free loan was repaid to the director-shareholder. The accounting for this financing transaction is given in note 7.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
3D Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2021
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.7.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment
1.8.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method
1.9.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income statement, directors report, and notes to the financial statements relating to the income statement. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2021 | 2020 | ||
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Office and administration |
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3D Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2021
4.
Investments
Listed | Unlisted | Total | |||
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£ | £ | £ | |||
Cost | |||||
As at
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105,841 | 125,705 | 231,546 | ||
Additions | 14,985 | 14,985 | |||
Revaluations | (5,942) | (5,942) | |||
As at
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114,884 | 125,705 | 240,589 | ||
Provision | |||||
As at
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- | - | - | ||
As at
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Net Book Value | |||||
As at
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114,884 | 125,705 | 240,589 | ||
As at
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105,841 | 125,705 | 231,546 | ||
Listed Investments are non-convertible ordinary shares listed on the London Stock Exchange, New York Stock Exchange and the NASDAQ measured at fair value through profit or loss, the quoted market price amounted to £114,885 (2020: £105,841). The historical cost of these investments was £126,080 (2020: £69,772).
Unlisted investments are shares held in unquoted UK companies measured at fair value through profit or loss.
5.
Debtors
2021 | 2020 | ||
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£ | £ | ||
Due within one year | |||
Trade debtors |
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Other debtors |
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Other debtors (1) |
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6.
Creditors: Amounts Falling Due Within One Year
2021 | 2020 | ||
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£ | £ | ||
Trade creditors |
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Corporation tax |
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Accruals and deferred income |
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3D Estates Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2021
8.
Related Party Transactions
Rottal Hydro Limited
A company in which Dee Ward is a director and 100% shareholder.
Rottal Hydro Limited owed the company £83,092 (2020: £34,205) at the balance sheet date. The amounts are included in other debtors and other creditors. During the year the company advanced £48,887 (2020: £23,321) to Rottal Hydro Limited.
Rottal Estates Partnership
Entity in which the director is a partner.
Included in other debtors are amounts of £50,000 (2020: £40,000) owing from Rottal Estates. Rottal Estates charged the company £6,000 for rent and £4,000 for management charges.
9.
Ultimate Controlling Party
The company's ultimate controlling party is Dee Ward by virtue of his ownership of 100% of the issued share capital in the company.
10.
General Information
3D Estates Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04954718
. The registered office is New Kings Court Tollgate, Chandler's Road, Eastleigh, Hampshire, SO53 3LG.