Ernest Derricott Ltd - Accounts to registrar (filleted) - small 18.2
Ernest Derricott Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2022 |
| for |
| Ernest Derricott Ltd |
| Ernest Derricott Ltd (Registered number: 00304354) |
| Contents of the Financial Statements |
| for the year ended 31 March 2022 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Ernest Derricott Ltd |
| Company Information |
| for the year ended 31 March 2022 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Estate House |
| Evesham Street |
| Redditch |
| Worcestershire |
| B97 4HP |
| Ernest Derricott Ltd (Registered number: 00304354) |
| Abridged Balance Sheet |
| 31 March 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| Ernest Derricott Ltd (Registered number: 00304354) |
| Abridged Balance Sheet - continued |
| 31 March 2022 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Ernest Derricott Ltd (Registered number: 00304354) |
| Notes to the Financial Statements |
| for the year ended 31 March 2022 |
| 1. | STATUTORY INFORMATION |
| Ernest Derricott Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Ernest Derricott Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover represents amounts derived from the provision of goods and services falling within the company's ordinary activities, after deduction of trade discounts, value added tax and any other tax based on the amounts so derived. |
| Tangible fixed assets |
| Fixtures & fittings | - |
| Equipment | - |
| Tangible fixed assets are stated at cost less depreciation. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Ernest Derricott Ltd (Registered number: 00304354) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2022 |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 5. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 | 1,000 |
| NET BOOK VALUE |
| At 31 March 2022 | 1,000 |
| At 31 March 2021 | 1,000 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2021 |
| Revaluations | ( |
) |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| Ernest Derricott Ltd (Registered number: 00304354) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2022 |
| 6. | INVESTMENT PROPERTY - continued |
| Fair value at 31 March 2022 is represented by: |
| £ |
| Valuation in 2009 | 1,615,517 |
| Valuation in 2010 | 1,950,000 |
| Valuation in 2012 | (250,000 | ) |
| Valuation in 2015 | 175,000 |
| Valuation in 2016 | (108,463 | ) |
| Valuation in 2017 | 950,000 |
| Valuation in 2018 | 1,550,000 |
| Valuation in 2019 | (400,000 | ) |
| Valuation in 2021 | 47,176 |
| Valuation in 2022 | (150,000 | ) |
| Cost | 1,220,770 |
| 6,600,000 |
| Investment property was valued on an open market basis on 31 March 2022 by the directors . |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | 1 | 4,725 | 4,725 |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021: |
| 2022 | 2021 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Ernest Derricott Ltd (Registered number: 00304354) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2022 |
| 9. | RELATED PARTY DISCLOSURES |
| Included in other debtors is a loan to Mr W Watson who is the husband of Mrs T V Watson for the sum of £45,000 (2021 - £55,000). |
| During the period dividends were distributed to the directors as follows: |
| Mrs R S Boyce-Derricott £20,000 |
| Mrs T V Watson £10,000 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The controlling party throughout the year was Mrs T Watson by virtue of her holding 2363 of the issued share capital in the company. |