EDDLESTON_INVESTMENT_MANA - Accounts

EDDLESTON INVESTMENT MANAGEMENT LIMITED - Company Information

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Company Registration No. 02100053 (England and Wales)

EDDLESTON INVESTMENT MANAGEMENT LIMITED

DIRECTOR'S REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

EDDLESTON INVESTMENT MANAGEMENT LIMITED

COMPANY INFORMATION

Director

R T Eddleston

Secretary

R D Eddleston

Company number

02100053

Registered office

42 Burdon Lane

Cheam

Surrey

Accountants

Lentells Limited

50 Fore Street

Seaton

Devon

EX12 2AD

Business address

42 Burdon Lane

Cheam

Surrey

SM2 7PT

EDDLESTON INVESTMENT MANAGEMENT LIMITED

CONTENTS

Page

Director's report

Accountants' report

Profit and loss account

Balance sheet

4 - 5

Notes to the financial statements

6 - 10

EDDLESTON INVESTMENT MANAGEMENT LIMITED

DIRECTOR'S REPORT

FOR THE YEAR ENDED 31 DECEMBER 2015

- 1 -

The director presents his report and financial statements for the year ended 31 December 2015.

Director

The following director has held office since 1 January 2015:

R T Eddleston

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

On behalf of the board

R T Eddleston

Director

19 September 2016

EDDLESTON INVESTMENT MANAGEMENT LIMITED

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EDDLESTON INVESTMENT MANAGEMENT LIMITED FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Eddleston Investment Management Limited for the year ended 31 December 2015 set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Eddleston Investment Management Limited, as a body, in accordance with the terms of our engagement letter dated 8 September 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Eddleston Investment Management Limited and state those matters that we have agreed to state to the Board of Directors of Eddleston Investment Management Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Eddleston Investment Management Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Eddleston Investment Management 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 Eddleston Investment Management Limited. You consider that Eddleston Investment Management 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 Eddleston Investment Management 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.

Lentells Limited

19 September 2016

Chartered Certified Accountants

50 Fore Street

Seaton

Devon

EX12 2AD

EDDLESTON INVESTMENT MANAGEMENT LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

2015

2014

Notes

Turnover

45,586

60,951

Administrative expenses

(42,347)

(30,621)

Other operating income

136,858

41,955

Profit on ordinary activities before taxation

140,097

72,285

Tax on profit on ordinary activities

(12,553)

(7,572)

Profit for the year

127,544

64,713

EDDLESTON INVESTMENT MANAGEMENT LIMITED

BALANCE SHEET

AS AT

31 DECEMBER 2015

- 4 -

2015

2014

Notes

Fixed assets

Tangible assets

4 & 5

1,009,727

1,014,869

Investments

732,284

938,958

1,742,011

1,953,827

Current assets

Debtors

2,007

2,424

Cash at bank and in hand

12,615

8,451

14,622

10,875

Creditors: amounts falling due within one year

(49,797)

(385,421)

Net current liabilities

(35,175)

(374,546)

Total assets less current liabilities

1,706,836

1,579,281

Provisions for liabilities

(212)

(201)

1,706,624

1,579,080

Capital and reserves

Called up share capital

315,829

Share premium account

15,621

Profit and loss account

1,375,174

1,247,630

Shareholders' funds

1,706,624

1,579,080

EDDLESTON INVESTMENT MANAGEMENT LIMITED

BALANCE SHEET (CONTINUED)

AS AT

31 DECEMBER 2015

- 5 -

For the financial year ended 31 December 2015 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 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 financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board for issue on 19 September 2016

R T Eddleston

Director

Company Registration No. 02100053

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 6 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

2% straight line

Fixtures, fittings & equipment

25% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Operating profit

2015

2014

Operating profit is stated after charging:

Depreciation of tangible assets

5,595

5,562

Taxation

2015

2014

Domestic current year tax

U.K. corporation tax

12,543

7,501

Total current tax

12,543

7,501

Deferred tax

Origination and reversal of timing differences

12,553

7,572

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 7 -

Tangible fixed assets

Land and buildings

Plant and machinery etc

Total

Cost

At 1 January 2015

262,085

31,830

293,915

Additions

452

At 31 December 2015

262,085

32,282

294,367

Depreciation

At 1 January 2015

83,869

30,868

114,737

Charge for the year

5,242

353

5,595

At 31 December 2015

89,111

31,221

120,332

Net book value

At 31 December 2015

172,974

1,061

174,035

At 31 December 2014

178,216

961

179,177

Tangible fixed assets

Investment properties

Cost

At 1 January 2015 & at 31 December 2015

835,692

Net book value

At 31 December 2015

835,692

At 31 December 2014

835,692

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 8 -

Fixed asset investments

Listed investments

Unlisted investments

Shares in group undertakings and participating interests

Total

Cost

At 1 January 2015

793,254

97,075

48,630

938,959

Additions

61,362

331

61,693

Disposals

(251,070)

(17,298)

(268,368)

At 31 December 2015

603,546

80,108

48,630

732,284

Net book value

At 31 December 2015

603,546

80,108

48,630

732,284

At 31 December 2014

793,254

97,074

48,630

938,958

Market value

Director's valuation

Total

At 31 December 2015

979,629

52,709

1,032,338

At 31 December 2014

1,251,877

54,517

1,306,394

Debtors

2015

2014

Trade debtors

552

Other debtors

1,455

2,424

2,007

2,424

Creditors: amounts falling due within one year

2015

2014

Trade creditors

4,304

Taxation and social security

12,543

7,501

Other creditors

32,950

377,920

49,797

385,421

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 9 -

Provisions for liabilities

Deferred tax liability

Balance at 1 January 2015

202

Profit and loss account

Balance at 31 December 2015

212

The deferred tax liability is made up as follows:

2015

2014

Accelerated capital allowances

212

201

Share capital

2015

2014

Allotted, called up and fully paid

315,829 Ordinary Shares of £1 each

315,829

Statement of movements on reserves

Share premium account

Profit
and loss
account

Balance at 1 January 2015

15,621

1,247,630

Profit for the year

127,544

Balance at 31 December 2015

15,621

1,375,174

Control

The company is controlled by Mr Roger Eddleston by virtue of his shareholding.

Financial commitments

The company is committed over the next twelve months to ground rent and service charges of £6,431.26

EDDLESTON INVESTMENT MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 10 -

Related party relationships and transactions

At 31st December 2015 the company owed it's director, Mr Roger Eddleston, £31,000 (2014 - £376,000 ). This being shown within 'other creditors'. The loan is interest free and there is no fixed date of repayment.

EDDLESTON INVESTMENT MANAGEMENT LIMITED

MANAGEMENT INFORMATION

FOR THE YEAR ENDED 31 DECEMBER 2015

EDDLESTON INVESTMENT MANAGEMENT LIMITED

DETAILED TRADING AND PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2015

2015

2014

Turnover

Income received from investments

45,586

60,951

Administrative expenses

(42,347)

(30,621)

3,239

30,330

Other operating income

Rent receivable

40,197

39,430

Profit on sale of investments

96,661

2,525

136,858

41,955

Operating profit

140,097

72,285

EDDLESTON INVESTMENT MANAGEMENT LIMITED

SCHEDULE OF ADMINISTRATIVE EXPENSES

FOR THE YEAR ENDED 31 DECEMBER 2015

2015

2014

Administrative expenses

Tiger House - rent, service charges & insurance

4,696

4,099

Tiger House - rates

2,607

2,423

Information Services

1,416

1,467

Tiger House- light and heat

182

258

Tiger House - repairs and maintenance

244

1,550

Lochinvar - rent,service charged & insurance

1,221

794

Lochinvar Man fees

2,429

2,438

Lochinvar Light & Heat

450

Printing, postage and stationery

166

219

Telephone

1,219

1,117

Lochinvar - repairs & maintenance

1,394

3,183

Bedford Hill -ground rent and service charges

1,140

1,112

Motor running expenses

700

Bedford Hill - repairs and maintenance

1,883

Bedford Hill - flat management expenses

1,339

588

Accountancy

1,944

2,022

Barclays Dealing Account - Admin charges

100

Sundry expenses

282

287

Subscriptions

770

369

Amortisation on short leasehold

5,242

Depreciation on equipment

353

320

Loss on sale of investments

14,457

42,347

30,621