Ellis Tower Properties Limited Filleted accounts for Companies House (small and micro)

ELLIS TOWER PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 8953411

Ellis Tower Properties Limited

Filleted Unaudited Abridged Financial Statements

31 March 2021

Ellis Tower Properties Limited

Abridged Statement of Financial Position

31 March 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	5	3,242	3,781
Investments	6	17,000	17,000
		--------	--------
		20,242	20,781

Current assets

Debtors	1,843	1,229
Cash at bank and in hand	16,910	69,412
	--------	--------
	18,753	70,641

Creditors: amounts falling due within one year	1,846		11,364
	--------		--------
Net current assets		16,907	59,277
		--------	--------
Total assets less current liabilities		37,149	80,058

Provisions

Taxation including deferred tax	616	718
	--------	--------
Net assets	36,533	79,340
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	36,433	79,240
	--------	--------
Shareholders funds	36,533	79,340
	--------	--------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

Ellis Tower Properties Limited

Abridged Statement of Financial Position (continued)

31 March 2021

These abridged financial statements were approved by the board of directors and authorised for issue on 2 December 2021 , and are signed on behalf of the board by:

A Ellis
Director

Company registration number: 8953411

Ellis Tower Properties Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Hadleigh Business Centre, 351 London Road, Benfleet, SS7 2BT, Essex.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).

5. Tangible assets

	£
Cost
At 1 April 2020	7,395
Additions	410
	-------
At 31 March 2021	7,805
	-------
Depreciation
At 1 April 2020	3,614
Charge for the year	949
	-------
At 31 March 2021	4,563
	-------
Carrying amount
At 31 March 2021	3,242
	-------
At 31 March 2020	3,781
	-------

6. Investments

	£
Cost
At 1 April 2020 and 31 March 2021	17,000
	--------
Impairment
At 1 April 2020 and 31 March 2021	–
	--------
Carrying amount
At 31 March 2021	17,000
	--------
At 31 March 2020	17,000
	--------

7. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2021
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
A Ellis	( 150)	( 256)	( 406)
	----	----	----

	2020
	Balance brought forward	Advances/ (credits) to the director	Balance outstanding
	£	£	£
A Ellis	( 46)	( 104)	( 150)
	----	----	----

8. Related party transactions

The company was under the control of Mr A Ellis throughout the current period. Mr A Ellis is the managing director and sole shareholder.