Earl Kendrick Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07474203 (England and Wales)

EARL KENDRICK ASSOCIATES LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Davies

REGISTERED OFFICE:

2nd Floor, One Hobbs House

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

REGISTERED NUMBER:

07474203 (England and Wales)

ACCOUNTANTS:

Albury Associates Limited

2nd Floor, One Hobbs House,

Harrovian Business Village

Bessborough Road

Harrow

Middlesex

HA1 3EX

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

190

3,251

Investments

6

201,397

145,345

201,587

148,596

CURRENT ASSETS

Debtors

7

743,046

813,597

Cash at bank

263,694

164,322

1,006,740

977,919

CREDITORS

Amounts falling due within one year

8

250,503

242,966

NET CURRENT ASSETS

756,237

734,953

TOTAL ASSETS LESS CURRENT LIABILITIES

957,824

883,549

PROVISIONS FOR LIABILITIES

1,832

1,832

NET ASSETS

955,992

881,717

CAPITAL AND RESERVES

Called up share capital

9

4,120

100

Retained earnings

10

951,872

881,617

SHAREHOLDERS' FUNDS

955,992

881,717

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

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

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 March 2021 and were signed by:

J Davies - Director

1.	STATUTORY INFORMATION

Earl Kendrick Associates 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements

The financial statements contain information about Earl Kendrick Associates Limited 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets

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

Plant and machinery 25% straight line basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

Taxation

The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax assets are recognised when tax paid exceeds the tax payable.

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

Current tax is based on taxable profit for the year. Current tax assets and liabilities are measured using tax rates that have been enacted or substantively enacted by the reporting period.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is measured at the average tax rates that are expected to apply in the periods in which timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the income statement so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company operated a defined contribution pension scheme. Contributions payable to the scheme are charged to profit or loss account in the year to which they relate. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments.

Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision in measured at present value the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2020

and 31 December 2020

15,000

AMORTISATION

At 1 January 2020

and 31 December 2020

15,000

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2020

and 31 December 2020

3,648

68,159

71,807

DEPRECIATION

At 1 January 2020

3,648

64,908

68,556

Charge for year

-

3,061

3,061

At 31 December 2020

3,648

67,969

71,617

NET BOOK VALUE

At 31 December 2020

-

190

190

At 31 December 2019

-

3,251

3,251

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2020

240,922

Additions

104,020

Disposals

(180

)

At 31 December 2020

344,762

PROVISIONS

At 1 January 2020

95,577

Provision for year

47,788

At 31 December 2020

143,365

NET BOOK VALUE

At 31 December 2020

201,397

At 31 December 2019

145,345

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Finnegan Associates Limited

Registered office: Inside of the United Kingdom.

Nature of business: Surveying and property consulting services.

%

Class of shares:

holding

Ordinary Shares

100.00

2020

2019

£

£

Aggregate capital and reserves

12,388

12,388

Loss for the year

-

(1,564

)

Earl Kendrick Associates (North) Limited

Registered office: Inside of the United Kingdom.

Nature of business: Chartered surveyors and property consultants.

%

Class of shares:

holding

Ordinary B

90.00

2020

2019

£

£

Aggregate capital and reserves

(10,920

)

(23,324

)

Profit/(loss) for the year

60,804

(10,324

)

Earl Kendrick Associates (South) Limited

Registered office: Inside of the United Kingdom.

Nature of business: Chartered surveyors and property consultants.

%

Class of shares:

holding

Ordinary B

90.00

2020

2019

£

£

Aggregate capital and reserves

19,411

9,085

Profit for the year

34,976

20,085

Earl Kendrick Associates (West) Limited

Registered office: Inside of the United Kingdom.

Nature of business: Chartered surveyors and property consultants.

%

Class of shares:

holding

Ordinary B

99.00

2020

£

Aggregate capital and reserves

1,090

Profit for the year

90

EK Reinstatement Cost Assessment Limited

Registered office: Inside of the United Kingdom.

Nature of business: Chartered surveyors and property consultants.

%

Class of shares:

holding

Ordinary B

99.00

2020

2019

£

£

Aggregate capital and reserves

24,618

(2,138

)

Profit/(loss) for the year

50,356

(3,138

)

EK McQuade Limited

Registered office: Inside of the United Kingdom.

Nature of business: Chartered surveyors and property consultants.

%

Class of shares:

holding

Ordinary A

45.45

31/12/20

30/9/20

£

£

Aggregate capital and reserves

6,389

397

Profit/(loss) for the period

5,992

(107,151

)

Licence to Alter Limited

Registered office: Inside of the United Kingdom

Nature of business: Chartered surveyors and property consultants.

%

Class of shares:

holding

Ordinary B

99.00

2020

2019

£

£

Aggregate capital and reserves

5,282

(3,229

)

Profit for the year

20,011

2,771

Earl Kendrick Associates (Cotswold) Limited

Registered office: Inside of the United Kingdom.

Nature of business: Chartered surveyors and property consultants.

%

Class of shares:

holding

Ordinary B

50.00

2020

£

Aggregate capital and reserves

(1,944

)

Loss for the year

(2,044

)

Earl Kendrick (London) Limited

Registered office: Inside of the United Kingdom.

Nature of business: Chartered surveyors and property consultants.

%

Class of shares:

holding

Ordinary A

5.00

Ordinary B

95.00

2020

2019

£

£

Aggregate capital and reserves

1,000

3,611

(Loss)/profit for the year

(2,611

)

2,611

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

18,282

141,454

Amounts owed by associates

621,970

564,743

Other debtors

102,794

107,400

743,046

813,597

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

38

33,051

Trade creditors

107,459

131,418

Amounts owed to group undertakings

48,907

48,952

Amounts owed to associates

27,437

-

Taxation and social security

18,434

6,476

Other creditors

48,228

23,069

250,503

242,966

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

4,120

Ordinary A Shares

£1

4,120

100

10.

RESERVES

Retained

earnings

£

At 1 January 2020

881,617

Profit for the year

70,255

At 31 December 2020

951,872

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2020 and 31 December 2019:

2020

2019

£

£

J Davies

Balance outstanding at start of year

(35,987

)

(50,589

)

Amounts advanced

(12,615

)

(192,066

)

Amounts repaid

22,424

206,668

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(26,178

)

(35,987

)

12.	RELATED PARTY DISCLOSURES

At the year-end date, included within other debtors is an amount of £1,374 (2019: £1,329) owed from Port Trader Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £284,989 (2019: £282,185) owed from Portgrove Estates Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £10,306 (2019: £30,903) owed from Earl Kendrick Associates (South) Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £37,559 (2019: £47,523) owed from Earl Kendrick Associates (North) Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £2,936 (2019: £2,936) owed from Lcello JS Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £237,515 (2019: £137,277) owed from Earl Kendrick (London) Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £411 (2019: £305) owed from EK2 Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £8,900 (2019: £5,000) owed from Leasecheck Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £1,506 (2019: £NIL) owed from Earl Kendrick Associates (West) Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other creditors is an amount of £48,907 (2019: £48,952) owed to Finnegans Associates Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £16,292 (2019: £1,479) owed from EK Reinstatement Cost Assessment Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £18,405 (2019: £41,309) owed from Licence to Alter Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £578 owed from Earl Kendrick Associates (Cotswold) Ltd. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £1,200 owed from EK Digital Ltd. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other creditors is an amount of £48,907 (2019: £48,952) owed to Finnegan Associates Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

At the year-end date, included within other debtors is an amount of £27,437 owed to EK Mcquade Limited. A company in which Mr J Davies is a director. This amount is interest free and repayable on demand.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Davies.