E G Lewis Developments Limited - Accounts to registrar (filleted) - small 23.2.5
E G Lewis Developments Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| E G LEWIS DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 31 JANUARY 2023 |
| E G LEWIS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05232919) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 8 |
| E G LEWIS DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Ground Floor Cardigan House |
| Castle Court |
| Swansea Enterprise Park |
| Swansea |
| SA7 9LA |
| BANKERS: |
| Phoenix Way |
| Llansamlet |
| Swansea |
| SA7 9FS |
| E G LEWIS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05232919) |
| BALANCE SHEET |
| 31 JANUARY 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| 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 | ( |
) | ( |
) |
| ACCRUALS AND DEFERRED INCOME | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Retained earnings | 11 |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| E G LEWIS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05232919) |
| BALANCE SHEET - continued |
| 31 JANUARY 2023 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| E G LEWIS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05232919) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| 1. | STATUTORY INFORMATION |
| E G Lewis Developments Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rental income, excluding value added tax. |
| Tangible fixed assets |
| Improvements to property | - |
| Motor vehicles | - |
| Impairment of fixed assets |
| At each reporting date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). |
| Recoverable amount is the higher of fair value less costs to sell and value in use. |
| If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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. |
| 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. |
| 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. |
| E G LEWIS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05232919) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
| Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
| Basic financial assets |
| Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
| Basic financial liabilities |
| Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the measurement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Improvements |
| to | Motor |
| property | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 February 2022 |
| Additions |
| At 31 January 2023 |
| DEPRECIATION |
| At 1 February 2022 |
| Charge for year |
| At 31 January 2023 |
| NET BOOK VALUE |
| At 31 January 2023 |
| At 31 January 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Interest |
| in other |
| participating |
| interests |
| £ |
| COST |
| Additions | 2 |
| At 31 January 2023 | 2 |
| NET BOOK VALUE |
| At 31 January 2023 | 2 |
| E G LEWIS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05232919) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 February 2022 |
| Additions |
| At 31 January 2023 |
| NET BOOK VALUE |
| At 31 January 2023 |
| At 31 January 2022 |
| Fair value at 31 January 2023 is represented by: |
| £ |
| Valuation in 2011 | 960,565 |
| Cost | 1,752,769 |
| 2,713,334 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Amounts owed by group undertakings |
| Amounts owed by participating interests | 708,102 | - |
| Amounts owed by Skelton Thomas |
| Directors' current accounts | - | 240,000 |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to participating interests | 1,965,923 | - |
| Amounts owed to E G Lewis & Co | 198,800 | - |
| Tax |
| Social security and other taxes |
| VAT | 291,829 | 71,665 |
| Amounts owed to related party |
| Other creditors | 4,451 | 816 |
| Directors' current accounts | - | 500 |
| Accrued expenses |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans more than 1 year |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary share capital | £1 | 1,000 | 1,000 |
| E G LEWIS DEVELOPMENTS LIMITED (REGISTERED NUMBER: 05232919) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2023 |
| 11. | RESERVES |
| Retained | Revaluation |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 February 2022 | 4,180,738 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| At 31 January 2023 | 4,018,648 |
| 12. | RELATED PARTY DISCLOSURES |
| Entities with control, joint control or significant influence over the entity |
| 2023 | 2022 |
| £ | £ |
| Sales | 2,352,964 | 586,536 |
| Purchases | - | - |
| Amount due from related party | 5,305,602 | - |
| Amount due to related party | 2,164,723 | 275,000 |
| 13. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is Mr T Lewis by virtue of his shareholding in E G Lewis Investment Services Limited. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| E G LEWIS DEVELOPMENTS LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of E G Lewis Developments Limited for the year ended 31 January 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of E G Lewis Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of E G Lewis Developments Limited and state those matters that we have agreed to state to the Board of Directors of E G Lewis Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than E G Lewis Developments Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that E G Lewis Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of E G Lewis Developments Limited. You consider that E G Lewis Developments Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of E G Lewis Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Ground Floor Cardigan House |
| Castle Court |
| Swansea Enterprise Park |
| Swansea |
| SA7 9LA |