Ember Estates Limited Filleted accounts for Companies House (small and micro)

EMBER ESTATES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00923509

Ember Estates Limited

Filleted Unaudited Financial Statements

30 June 2021

Ember Estates Limited

Statement of Financial Position

30 June 2021

	2021		2020
Note	£	£	£

Fixed assets

Tangible assets	5	389	519
Investments	6	1,303,270	1,302,970
		------------	------------
		1,303,659	1,303,489

Current assets

Stocks		1,195,193	641,230
Debtors	7	6,373	4,978
Cash at bank and in hand		901,877	1,623,952
		------------	------------
		2,103,443	2,270,160

Creditors: amounts falling due within one year	8	663,900		592,080
		------------		------------
Net current assets			1,439,543	1,678,080
			------------	------------
Total assets less current liabilities			2,743,202	2,981,569

Creditors: amounts falling due after more than one year	9	632,453	632,453
		------------	------------
Net assets		2,110,749	2,349,116
		------------	------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,110,649	2,349,016
	------------	------------
Shareholders funds	2,110,749	2,349,116
	------------	------------

These 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 income statement has not been delivered.

For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ember Estates Limited

Statement of Financial Position (continued)

30 June 2021

These financial statements were approved by the board of directors and authorised for issue on 24 March 2022 , and are signed on behalf of the board by:

Mr J M Hickman

Director

Company registration number: 00923509

Ember Estates Limited

Notes to the Financial Statements

Year ended 30 June 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 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX.

2. Statement of compliance

These 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 and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Income 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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 & Fittings	-	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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4. Employee numbers

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

5. Tangible assets

	Fixtures and fittings
	£
Cost
At 1 July 2020 and 30 June 2021	15,263
	--------
Depreciation
At 1 July 2020	14,744
Charge for the year	130
	--------
At 30 June 2021	14,874
	--------
Carrying amount
At 30 June 2021	389
	--------
At 30 June 2020	519
	--------

6. Investments

	Shares in group undertakings	Loans to group undertakings	Shares in participating interests	Total
	£	£	£	£
Cost
At 1 July 2020	1,468,747	( 173,878)	8,101	1,302,970
Additions	–	–	300	300
	------------	---------	-------	------------
At 30 June 2021	1,468,747	( 173,878)	8,401	1,303,270
	------------	---------	-------	------------
Impairment
At 1 July 2020 and 30 June 2021	–	–	–	–
	------------	---------	-------	------------

Carrying amount
At 30 June 2021	1,468,747	( 173,878)	8,401	1,303,270
	------------	---------	-------	------------
At 30 June 2020	1,468,747	( 173,878)	8,101	1,302,970
	------------	---------	-------	------------

99% of Share Capital of Chalford Property Company Limited (a company incorporated in England and Wales) was acquired during a previous period.

Group Accounts have not been prepared as the Group qualifies as a Small Group under Section 398 of the Companies Act 2006.

The net profit/(loss) after tax of the subsidiary for the year to 30 June 2021 was £(19,107)(2020 - £96,864) and the capital and reserves at that date amounted to £6,198,734(2020 - £6,217,841).

Included within other operating income is the company's share of losses from its participating interest in Emberden LLP for the year ended 31 March 2021. The following year's accounts of the LLP have not yet been completed and any profits/losses for that year will be included in the results of this company for the year ended 30 June 2022.

7. Debtors

	2021	2020
	£	£
Other debtors	6,373	4,978
	-------	-------

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	4,624	4,281
Unsecured Loan - Director	98,392	25,448
Other creditors	560,884	562,351
	---------	---------
	663,900	592,080
	---------	---------

9. Creditors: amounts falling due after more than one year

	2021	2020
	£	£
Unsecured Loan - Cox & Readman Developments Limited	632,453	632,453
	---------	---------

10. Related party transactions

The company was under the control of Mr J M Hickman throughout the current and previous year. Mr J M Hickman is a director and the majority shareholder. The unsecured loans from Mr J M Hickman and Mr M Hickman, directors of the company are referred to in Note 8. At 30 June 2021 and during the year then ended Mr M Hickman was interested as a shareholder in Cox & Readman Developments Limited. The unsecured loan from that company is referred to in Note 9. During a previous year the company acquired 99% of the Share Capital of Chalford Property Company Limited from Mr M Hickman. Part of the consideration for the purchase was the issue to Mr M Hickman of £1,161,437 Floating Rate Unsecured Loan Notes 2013.The outstanding amount is shown under Other Creditors in Note 8. These Loan Notes carry interest at the rate of 3% over Base Rate.