Ellson Homes Ltd - Abbreviated accounts 16.3

ELLSON HOMES LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 APRIL 2015 TO 31 DECEMBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G A Hanson

I A Gay

Mrs E V Hanson

SECRETARY:

Mrs E V Hanson

REGISTERED OFFICE:

Highfield House

The Meads

Leighterton

Gloucestershire

GL8 8UW

REGISTERED NUMBER:

05114668 (England and Wales)

ACCOUNTANTS:

Bowen Accountants Ltd

Chartered Accountants

Griffon House

Seagry Heath

Great Somerford

Wiltshire

SN15 5EN

FIXED ASSETS

Tangible assets

2

106,870

48,915

CURRENT ASSETS

Stocks

1,680,658

658,368

Debtors

3,000,960

1,743,221

Cash at bank

241,491

-

4,923,109

2,401,589

CREDITORS

Amounts falling due within one year

3

4,927,828

2,417,961

NET CURRENT LIABILITIES

(4,719

)

(16,372

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

102,151

32,543

CREDITORS

Amounts falling due after more than one
year

(45,319

)

(21,852

)

PROVISIONS FOR LIABILITIES

(21,119

)

(9,705

)

NET ASSETS

35,713

986

CAPITAL AND RESERVES

Called up share capital

4

10

Profit and loss account

35,703

976

SHAREHOLDERS' FUNDS

35,713

986

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 16 January 2017 and were signed on its behalf by:

G A Hanson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the value of work completed under contracts to the extent that there is a right to

consideration and is recorded at the value of consideration due. Where a contract has only been partially

completed at the balance sheet date, turnover represents the value of the work to date based on the total expected

consideration at completion. These amounts are recorded as amounts recoverable on contracts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

86,583

Additions

87,832

Disposals

(35,394

)

At 31 December 2015

139,021

DEPRECIATION

At 1 April 2015

37,668

Charge for period

9,968

Eliminated on disposal

(15,485

)

At 31 December 2015

32,151

NET BOOK VALUE

At 31 December 2015

106,870

At 31 March 2015

48,915

3.

CREDITORS

Creditors include an amount of £ 1,327,257 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

value:

£

10

Ordinary

£1

10

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 December 2015 and the

year ended 31 March 2015:

2015

£

G A Hanson

Balance outstanding at start of period

95,725

(533

)

Amounts repaid

(142,416

)

(84,537

)

Balance outstanding at end of period

7,309

95,725

I A Gay

Balance outstanding at start of period

24,286

21,549

Amounts repaid

(102

)

-

Balance outstanding at end of period

24,729

24,286

Interest is being charged at 3% on the above loans.