MacAlister Elliott & Partners Limited - Accounts to registrar (filleted) - small 18.2
MacAlister Elliott & Partners Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| MacAlister Elliott & Partners Limited |
| Financial Statements |
| for the Year Ended 31 December 2021 |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| MacAlister Elliott & Partners Limited |
| Company Information |
| for the Year Ended 31 December 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| SENIOR STATUTORY AUDITOR: |
| AUDITORS: |
| 7 Lynwood Court |
| Priestlands Place |
| Lymington |
| Hampshire |
| SO41 9GA |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Balance Sheet |
| 31 December 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 6 |
| Investments | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
| PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Balance Sheet - continued |
| 31 December 2021 |
| 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 Board of Directors and authorised for issue on |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2021 |
| 1. | GENERAL INFORMATION |
| The company is a private company limited by share capital, incorporated in England and Wales. |
| The address of its registered office is: |
| 56 High Street |
| Lymington |
| Hampshire |
| SO41 9AH |
| 2. | STATEMENT OF COMPLIANCE |
| These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| BASIS OF PREPARATION |
| These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. |
| The company's functional and presentation currency is pound sterling and the financial statements are rounded to the nearest pound. |
| KEY SOURCES OF ESTIMATION UNCERTAINTY |
| The company recognises revenue and work in progress based on estimating the outcome of contracts it enters into as described in the revenue recognition accounting policy. This results in estimation uncertainty as the outcomes of such contracts are not guaranteed and are subject to changes in circumstances which are outside the control of the directors. The directors obtain as much relevant and reliable information as is available to them in order to determine the outcome of such contracts, but acknowledge that actual outcomes may materially impact the profit recognised on completion. |
| EXEMPTION FROM PREPARING GROUP ACCOUNTS |
| The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts. Therefore, the financial statements cover the individual entity. |
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES |
| The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. |
| GOING CONCERN |
| The directors believe that the company is well placed to manage its business risks successfully, despite the current uncertain economic outlook, and have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements. |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| TANGIBLE ASSETS |
| Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
| DEPRECIATION |
| Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows: |
| Asset class | Depreciation method and rate |
| Fixtures and fittings | 25% straight line basis |
| Short leasehold improvements | Straight line over 6.5 year lease |
| INVESTMENT PROPERTY |
| Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for an difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. |
| INVESTMENTS IN SUBSIDIARIES |
| Investments in subsidiary undertakings are recognised at cost. |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| FOREIGN CURRENCIES |
| Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account. |
| HIRE PURCHASE AND LEASES |
| Rentals payable under operating lease are charged in the profit and loss account on a straight line basis over the lease term. |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 3. | ACCOUNTING POLICIES - continued |
| PENSIONS |
| The company operates a defined contribution pension scheme. Contributions are charged in the profit and loss account as they become payable in accordance with the rules of the scheme. |
| BORROWINGS |
| Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. |
| Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. |
| Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
| INTEREST AND DIVIDENDS RECEIVABLE |
| Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | AUDITORS' REMUNERATION |
| 2021 | 2020 |
| £ | £ |
| Audit of the financial statements | 4,000 | 4,000 |
| 6. | TANGIBLE FIXED ASSETS |
| Short | Fixtures |
| leasehold | and |
| improvements | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2021 |
| Additions |
| At 31 December 2021 |
| DEPRECIATION |
| At 1 January 2021 |
| Charge for year |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 7. | INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2021 |
| Disposals | ( |
) |
| At 31 December 2021 |
| NET BOOK VALUE |
| At 31 December 2021 |
| At 31 December 2020 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: 56 High Street, Lymington, Hampshire, SO41 9AH England & Wales |
| Nature of business: |
| % |
| Class of shares: | holding |
| Control Union Pesca Ltd was dissolved via voluntary strike-off on 4th January 2022. |
| Registered office: Mozambique |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2021 | 2020 |
| £ | £ |
| Investments in subsidiaries | 125 | 128 |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Unutilized foreign tax credit | 76,910 | 42,206 |
| Prepayments and accrued income |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Barclays CIBL Loan |
| Trade creditors |
| Pension contributions unpaid | 2,128 | 2,819 |
| Corporation tax liability | ( |
) |
| Taxation and social security |
| Other creditors |
| Accrued expenses |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Barclays CIBL Loan - 2-5 years |
| Barclays CIBL Loan more 5 yr |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Barclays CIBL Loan more 5 yr | 7,576 | - |
| 11. | PROVISIONS FOR LIABILITIES |
| 2021 | 2020 |
| £ | £ |
| Deferred tax |
| Deferred tax | 1,154 | 2,221 |
| Deferred tax transferred to profit and loss account |
(204 |
) |
(1,067 |
) |
| 950 | 1,154 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2021 |
| Utilised during year | ( |
) |
| Balance at 31 December 2021 |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary shares | £0.10 | 180 | 180 |
| MacAlister Elliott & Partners Limited (Registered number: 01317449) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2021 |
| 13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Independenet Auditors' Report was unqualified. The Senior Statutory Auditor who signed the Audit report was Peter Clegg BSc FCA CTA, who signed for and on behalf of Westlake Clark Audit LLP. |
| 14. | FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENCIES |
| Amounts not provided for in the balance sheet |
| The total amount of financial commitments not included in the balance sheet is £24,402 (2020 - £56,199). This relates to operating lease commitments of which £18,297 is payable within 1 year and £6,105 is payable within 2 to 5 years. |
| 15. | RELATED PARTY DISCLOSURES |
| MEP Mozambique Limitado (MEP MOZ) is a 99% subsidiary of MacAlister Elliott & Partners Limited (MEP Ltd). During the year, there were sales of £531,875 (2020: £169,058) from MEP Ltd to MEP Moz. At the balance sheet date an amount of £86,308 (2020: £307,780) was owed from MEP Moz to MEP ltd. |
| 16. | PARENT AND ULTIMATE PARENT UNDERTAKING |
| MacAlister Elliott & Partners Limited is a 100% subsidiary. |
| The company's immediate parent is CUPH Holding B.V., incorporated in Netherlands. |
| The ultimate parent is Control Union B.V., incorporated in Netherlands. |
| The parent of the largest group in which these financial statements are consolidated is CUPH Holding B.V, |
| incorporated in Netherlands. |
| The address of CUPH Holding B.V is: |
| Boompies 270, Rotterdam, 3011XZ, Netherlands |