Everest Plant Limited
Everest Plant Limited
Registered number: 04797391
Unaudited Financial Statements
For The Year Ended
31 July 2022
Daverns
Chartered Accountants
Hardy House
Northbridge Road
Berkhamsted
Herts
HP4 1EF
Everest Plant Limited
Unaudited Financial Statements
For The Year Ended
31 July 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Page 1
Everest Plant Limited
Balance Sheet
As at
31 July 2022
Balance Sheet
Registered number:
04797391
For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
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| Fair value reserves |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 1,271,336 | 1,091,203 | |||
Page 1
Page 2
Everest Plant Limited
Balance Sheet (continued)
As at
31 July 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Everest Plant Limited
Notes to the Financial Statements
For The Year Ended
31 July 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
1.2.
Turnover
Turnover represents rents receivable, excluding value added tax.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Fixtures & Fittings |
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1.4.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
1.5.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2022 | 2021 | ||
|---|---|---|---|
| Office and administration |
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Page 3
Page 4
Everest Plant Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2022
3.
Tangible Assets
| Investment Properties | Fixtures & Fittings | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost or Valuation | |||
| As at
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| Additions | 1,611 |
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| Revaluation | 207,230 |
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| As at
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| Depreciation | |||
| As at
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| Provided during the period | - |
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| As at
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- |
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| Net Book Value | |||
| As at
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| As at
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4.
Debtors
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other creditors |
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| Accruals and deferred income |
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| Director's loan account |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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Page 4
Page 5
Everest Plant Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2022
7.
Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
On 22 September 2015 and on 29 July 2016 the company granted charges to F Everest and Nottingham Building Society respectively in respect of 62 Oaklands Lane, Smallford, St Albans, Herts and 62 Oaklands Lane, St Albans, Herts.
On 17 February 2020 the company granted a charges to Nottingham Building Society in respect of 60 Oaklands Lane, Smallford, St Albans, Herts.
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts | 723,238 | 723,238 |
8.
Share Capital
| 2022 | 2021 | ||
|---|---|---|---|
| Allotted, Called up and fully paid |
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| Value | Number | 2022 | 2021 | ||
|---|---|---|---|---|---|
| Allotted, called up and fully paid | £ | £ | £ | ||
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100 | 100 | |
9.
Reserves
Included in fair value reserves is an amount of £372,236 which represents the fair value adjustment in respect of investment properties. This amount cannot be distributed to the members as it represents an un-reaslised surplus in respect of the fair value adjustment pertaining to the investment properties and has been transferred from retained earnings.
10.
Related Party Transactions
During the year Blaze Commercial Limited paid Everest Plant Limited £70,500 (2021: £60,000) in respect of rent. The directors believes the transaction to be at arms length.
11.
General Information
Everest Plant Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
04797391
. The registered office is Hardy House, Northbridge Road, Berkhamsted, Herts, HP4 1EF.
Page 5