E C Straiton & Partners Limited - Accounts to registrar (filleted) - small 18.2
E C Straiton & Partners Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2020 |
for |
E C Straiton & Partners Limited |
E C Straiton & Partners Limited (Registered number: 07097933) |
Contents of the Financial Statements |
for the Year Ended 31 December 2020 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
E C Straiton & Partners Limited (Registered number: 07097933) |
Balance Sheet |
31 December 2020 |
2020 | 2019 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings | 618,228 |
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. |
E C Straiton & Partners Limited (Registered number: 07097933) |
Balance Sheet - continued |
31 December 2020 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
E C Straiton & Partners Limited (Registered number: 07097933) |
Notes to the Financial Statements |
for the Year Ended 31 December 2020 |
1. | STATUTORY INFORMATION |
E C Straiton & Partners Limited is a |
Registered number: | 07097933 |
Registered office: | Veterinary Hospital |
Cannock Road |
Penkridge |
Staffs |
ST19 5RY |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis. |
Turnover |
Turnover represents net invoiced sales of goods and services, excluding value added tax, and is recognised as the company becomes entitled to consideration for those goods and services. |
Goodwill |
The useful economic life of goodwill has been reassessed during the year and has been reduced from twenty years to ten years. The directors' believe this is a more accurate reflection of the use of goodwill. |
Tangible fixed assets |
Long leasehold | - |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Office equipment | - |
Leasehold property is depreciated evenly over the life of the lease. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
E C Straiton & Partners Limited (Registered number: 07097933) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
E C Straiton & Partners Limited (Registered number: 07097933) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 January 2020 |
and 31 December 2020 |
AMORTISATION |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
Long | to | Plant and |
leasehold | property | machinery |
£ | £ | £ |
COST |
At 1 January 2020 |
Additions |
At 31 December 2020 |
DEPRECIATION |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
E C Straiton & Partners Limited (Registered number: 07097933) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixtures |
and | Motor | Office |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2020 |
Additions |
At 31 December 2020 |
DEPRECIATION |
At 1 January 2020 |
Charge for year |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
£ |
COST |
Additions |
At 31 December 2020 |
DEPRECIATION |
Charge for year |
At 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2020 |
and 31 December 2020 |
NET BOOK VALUE |
At 31 December 2020 |
At 31 December 2019 |
E C Straiton & Partners Limited (Registered number: 07097933) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
6. | INVESTMENT PROPERTY - continued |
The director's have valued the investment property as at 31.12.2020 |
7. | DEBTORS |
2020 | 2019 |
as restated |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
as restated |
£ | £ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
Included in Other Creditors due within one year is a balance representing the liability due to the previous shareholder, Mr K Anderson, upon a purchase of own shares contract. |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
as restated |
£ | £ |
Other creditors |
Included in Other Creditors due after one year is a balance representing the liability due to the previous shareholder, Mr K Anderson, upon a purchase of own shares contract. |
E C Straiton & Partners Limited (Registered number: 07097933) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2020 | 2019 |
as restated |
£ | £ |
Hire purchase contracts | 10,767 | - |
Hire purchase liability is secured by the assets it relates too. |