Eddington Estates Limited - Limited company accounts 23.2
Eddington Estates Limited - Limited company accounts 23.2
| REGISTERED NUMBER: |
| EDDINGTON ESTATES LIMITED |
| REPORT OF THE DIRECTORS AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2023 |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2023 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Income Statement | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 6 |
| EDDINGTON ESTATES LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 March 2023 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Station House |
| Connaught Road |
| Brookwood |
| Woking |
| Surrey |
| GU24 0ER |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| REPORT OF THE DIRECTORS |
| for the year ended 31 March 2023 |
| The directors present their report with the financial statements of the company for the year ended 31 March 2023. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of property consultancy and letting. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report. |
| This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| INCOME STATEMENT |
| for the year ended 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses | ( |
) | ( |
) |
| 19,574 | 8,582 |
| Other operating income |
| OPERATING PROFIT |
| Interest payable and similar expenses | ( |
) | ( |
) |
| PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
| Tax on profit/(loss) | 4 | ( |
) |
| PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| BALANCE SHEET |
| 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| Investments | 6 |
| Investment property | 7 |
| CURRENT ASSETS |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium | 13 |
| Retained earnings | 13 |
| 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. |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| BALANCE SHEET - continued |
| 31 March 2023 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2023 |
| 1. | STATUTORY INFORMATION |
| Eddington Estates Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents receivable during the year and income receivable from property consultancy. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investments in associates |
| Investments in associate undertakings are recognised at cost. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 4. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2023 | 2022 |
| £ | £ |
| Deferred tax |
| Tax on profit/(loss) |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2022 |
| and 31 March 2023 |
| DEPRECIATION |
| At 1 April 2022 |
| and 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| 6. | FIXED ASSET INVESTMENTS |
| Interest |
| in |
| associate |
| £ |
| COST |
| At 1 April 2022 |
| and 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| 7. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2022 |
| Revaluations | 107,000 |
| At 31 March 2023 |
| NET BOOK VALUE |
| At 31 March 2023 |
| At 31 March 2022 |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 7. | INVESTMENT PROPERTY - continued |
| Fair value at 31 March 2023 is represented by: |
| £ |
| Valuation in 2006 | 38,005 |
| Valuation in 2007 | (5,000 | ) |
| Valuation in 2009 | 20,000 |
| Valuation in 2014 | 184,541 |
| Valuation in 2016 | 111,435 |
| Valuation in 2017 | 32,000 |
| Valuation in 2018 | 10,000 |
| Valuation in 2019 | 35,000 |
| Valuation in 2020 | 381 |
| Valuation in 2023 | 107,000 |
| Cost | 791,638 |
| 1,325,000 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 2023 | 2022 |
| £ | £ |
| Cost | 791,638 | 791,638 |
| Investment properties were valued on an open market basis on 31 March 2023 by the director . |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Amounts owed by group undertakings |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade creditors |
| Social security and other taxes |
| VAT | 100 | - |
| Wages | 2,815 | 1,755 |
| Directors' current accounts | 1,389 | 2,530 |
| Accrued expenses |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans - 2-5 years |
| EDDINGTON ESTATES LIMITED (REGISTERED NUMBER: 04929118) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Bank loans are secured against land and property. |
| 12. | PROVISIONS FOR LIABILITIES |
| 2023 | 2022 |
| £ | £ |
| Deferred tax | 61,932 | 41,530 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2022 |
| Provided during year |
| Balance at 31 March 2023 |
| All of the deferred taxation provision relates to timing differences between the recognition of unrealised gains on investment properties and when corporation tax on the capital gains is payable. |
| 13. | RESERVES |
| Retained | Share |
| earnings | premium | Totals |
| £ | £ | £ |
| At 1 April 2022 | 692,216 |
| Profit for the year |
| At 31 March 2023 | 769,362 |
| Included in reserves is a figure of £471,428 representing unrealised revaluation gains on investment properties less the associated provision for deferred tax. |