EJP Interests Limited - Accounts to registrar - small 16.3

REGISTERED NUMBER: 01909353 (England and Wales)

Unaudited Financial Statements For The Year Ended 31st May 2016

for

EJP Interests Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

B W Burton

C R Hill

S Winfield

SECRETARY:

B W Burton

REGISTERED OFFICE:

c/o Aston Shaw

The Union Building

51-59 Rose Lane

Norwich

Norfolk

NR1 1BY

REGISTERED NUMBER:

01909353 (England and Wales)

ACCOUNTANTS:

Aston Shaw Ltd

The Union Building

51-59 Rose Lane

Norwich

Norfolk

NR1 1BY

FIXED ASSETS

Tangible assets

4

2,822,872

1,935,551

CURRENT ASSETS

Debtors

5

10,295

22,452

Cash at bank and in hand

383,959

76,558

394,254

99,010

CREDITORS

Amounts falling due within one year

6

1,140,944

654,865

NET CURRENT LIABILITIES

(746,690

)

(555,855

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,076,182

1,379,696

PROVISIONS FOR LIABILITIES

336,612

195,253

NET ASSETS

1,739,570

1,184,443

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

7

1,738,703

1,034,042

Retained earnings

767

150,301

SHAREHOLDERS' FUNDS

1,739,570

1,184,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 7th February 2017 and were signed on its behalf by:

S Winfield - Director

1.	STATUTORY INFORMATION

EJP Interests Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents amounts receivable for goods and services.

Tangible fixed assets and depreciation

Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation, less estimated

residual value, of each asset over it's expected useful life, as follows:

Freehold land and buildings

- 1% straight line on buildings

Fixtures, fittings and equipment

- 10%, 12.5%, 20% and 25% straight line

The rate of depreciation on freehold property was changed from 2% to 1% straight line in this

year of revaluation to more accurately reflect the revised useful economic life of 100 years which

is also in line with that of the parent company Black Swan International Ltd.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Provision has also been made for deferred tax on gains arising on the revaluation of freehold land

and buildings, in accordance with FRS 102.

Pension costs and other post-retirement benefits

Until May 2005, the company operated a defined contribution pension scheme for the directors.

The assets of the scheme are held separately from those of the company in an independently

administered fund. Contributions payable for the year were charged to the profit and loss

account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2015 - 23 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1st June 2015

2,087,210

134,094

2,221,304

Additions

44,878

14,710

59,588

Revaluations

667,912

-

667,912

At 31st May 2016

2,800,000

148,804

2,948,804

DEPRECIATION

At 1st June 2015

168,173

117,580

285,753

Charge for year

17,821

8,352

26,173

Revaluation adjustments

(185,994

)

-

(185,994

)

At 31st May 2016

-

125,932

125,932

NET BOOK VALUE

At 31st May 2016

2,800,000

22,872

2,822,872

At 31st May 2015

1,919,037

16,514

1,935,551

Cost or valuation at 31st May 2016 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 1993

146,157

-

146,157

Valuation in 2001

275,000

-

275,000

Valuation in 2003

75,000

-

75,000

Valuation in 2012

775,000

-

775,000

Valuation in 2016

667,912

-

667,912

Cost

860,931

148,804

1,009,735

2,800,000

148,804

2,948,804

If freehold land and buildings had not been revalued they would have been included at the

following historical cost:

31/5/16

31/5/15

£

£

Cost

860,931

816,052

Aggregate depreciation

110,212

102,103

Value of land in freehold land and buildings

49,993

49,993

Freehold land and buildings were valued on an open market basis on 31st May 2016 by Lambert Smith Hampton

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/16

31/5/15

£

£

Trade debtors

8,831

4,846

Other debtors

1,464

17,606

10,295

22,452

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/5/16

31/5/15

£

£

Trade creditors

9,999

10,452

Taxation and social security

81,714

6,757

Other creditors

1,049,231

637,656

1,140,944

654,865

Included within other creditors is £1,032,350 (2015: £626,350) owed by EJP Interests Limited to

Black Swan International Limited, the parent company.

7.

RESERVES

Revaluation

reserve

£

At 1st June 2015

1,034,042

Transfer to profit and loss

reserve

(9,712

)

Freehold property revaluation

853,906

No description

(139,533

)

At 31st May 2016

1,738,703

8.	RELATED PARTY DISCLOSURES

9.	ULTIMATE CONTROLLING PARTY

Since 1 June 2005, the directors B Burton, S Winfield and C Hill have controlled the company by

virtue of their cumulative holding of the issued share capital of Black Swan International Limited,

the parent company.

10.

SECURITY

NatWest bank hold the following forms of security:

- Guarantee dated 16 September 2014 executed by Black Swan International Limited and EJP

Interests Limited for the liabilities of Black Swan International Limited and EJP Interests Limited.

- Debenture dated 16 September 2014 over all assets of EJP Interests Limited.

- Legal charge dated 26 September 2014 over Chiswick House.