Charles Simpson Organisation Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 00502996 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

CHARLES SIMPSON ORGANISATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Simpson

SECRETARY:

D L Williams

REGISTERED OFFICE:

50 Seymour Street

London

W1H 7JG

REGISTERED NUMBER:

00502996 (England and Wales)

ACCOUNTANTS:

Civvals Limited

50 Seymour Street

London

W1H 7JG

FIXED ASSETS

Tangible assets

4

13,606,387

12,856,529

CURRENT ASSETS

Stocks

1,062,859

663,476

Debtors

5

403,805

324,569

Cash at bank and in hand

193,410

301,129

1,660,074

1,289,174

CREDITORS

Amounts falling due within one year

6

663,656

477,720

NET CURRENT ASSETS

996,418

811,454

TOTAL ASSETS LESS CURRENT LIABILITIES

14,602,805

13,667,983

PROVISIONS FOR LIABILITIES

24,165

24,165

NET ASSETS

14,578,640

13,643,818

CAPITAL AND RESERVES

Called up share capital

47,049

47,049

Revaluation reserve

7

6,962,008

6,962,008

Retained earnings

7,569,583

6,634,761

SHAREHOLDERS' FUNDS

14,578,640

13,643,818

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 25 April 2017 and were signed by:

J Simpson - Director

1.	STATUTORY INFORMATION

Charles Simpson Organisation 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.

Preparation of consolidated financial statements

The financial statements contain information about Charles Simpson Organisation Limited as an individual

company and do not contain consolidated financial information as the parent of a group. The company has taken

the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

The company is a wholly owned subsidiary of Charles Simpson Investments Limited, a company incorporated in

England. Its parent company has taken the option under Section 398 of the Companies Act 2006 not to prepare

consolidated financial statements.

Turnover

Turnover represents net invoiced sales of mobile homes, rent receivable and other related services, excluding

value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

over 50 years

Short leasehold

-

Over the life of the lease

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on cost

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 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.

Freehold property

The company's freehold properties are held for long term investment and are included in the balance sheet at

their open market values. The surplus or deficit on annual revaluation of such properties are transferred to

revaluation reserves. Depreciation is not provided in respect of land and buildings comprising the mobile home

parks. Other freehold buildings are depreciated over 50 years.

This policy represents a departure from statutory accounting principles, which require depreciation to be

provided on all fixed assets. The director consider that this policy is necessary in order that the financial

statements may give true and fair view because current values and changes in current values are of prime

importance rather than the calculation of systematic annual depreciation. Depreciation or amortisation is only

one of many factors that is reflected in the annual valuation and the amount which might otherwise have been

shown cannot be separately identified or quantified.

Leasehold property

Leasehold properties are not amortised where the unexpired term is over fifty years.

Unlisted investments

Unlisted investments are shown in the accounts at the lower of cost or current market value allowing for any

diminution in the value of the investment. Revaluation of unlisted investments are transferred to revaluation

reserves via the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST OR VALUATION

At 1 January 2016

12,848,894

97,316

1,111,428

Additions

772,971

-

-

At 31 December 2016

13,621,865

97,316

1,111,428

DEPRECIATION

At 1 January 2016

112,354

79,262

1,111,428

Charge for year

13,619

548

-

At 31 December 2016

125,973

79,810

1,111,428

NET BOOK VALUE

At 31 December 2016

13,495,892

17,506

-

At 31 December 2015

12,736,540

18,054

-

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2016

430,996

148,652

7,683

14,644,969

Additions

-

16,387

4,293

793,651

At 31 December 2016

430,996

165,039

11,976

15,438,620

DEPRECIATION

At 1 January 2016

392,846

84,867

7,683

1,788,440

Charge for year

5,722

22,592

1,312

43,793

At 31 December 2016

398,568

107,459

8,995

1,832,233

NET BOOK VALUE

At 31 December 2016

32,428

57,580

2,981

13,606,387

At 31 December 2015

38,150

63,785

-

12,856,529

Cost or valuation at 31 December 2016 is represented by:

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

Valuation in 1997

6,962,008

-

-

Cost

6,659,857

97,316

1,111,428

13,621,865

97,316

1,111,428

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

Valuation in 1997

-

-

-

6,962,008

Cost

430,996

165,039

11,976

8,476,612

430,996

165,039

11,976

15,438,620

If freehold properties had not been revalued they would have been included at the following historical cost:

2016

2015

£

£

Cost

5,841,532

5,841,532

The freehold properties were valued on an open market basis on 31 December 1997 by Humberts Leisure, Chartered Surveyors

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Amounts owed by group undertakings

79,350

79,350

Amounts owed by associates

144,695

83,303

Other debtors

179,760

161,916

403,805

324,569

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Taxation and social security

209,216

38,403

Other creditors

454,440

439,317

663,656

477,720

7.

RESERVES

Revaluation

reserve

£

At 1 January 2016

and 31 December 2016

6,962,008

8.	CONTINGENT LIABILITIES

An unlimited composite cross guarantee has been given to National Westminster Bank Plc in respect of overdraft

on all common ownership companies.

9.	DIRECTOR'S LOAN

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

J Simpson

Balance outstanding at start of year

7,651

24,808

Amounts advanced

2,759

7,651

Amounts repaid

(7,651

)

(24,808

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,759

7,651

The outstanding loan was repaid in full after the year end.

10.	RELATED PARTY DISCLOSURES

During the year, the company paid management fees of £250,000 (2015 : £250,000) to Great Bradley

(Withypool) Limited in which Mr J Simpson, the director, is also a director and shareholder.

Balances due from related company at balance sheet date were:

2016

2015

£

£

Great Bradley (Withypool) Limited

138,695

83,303

During the year, the company paid management fees of £105,000 (2015 : £nil) to Jellybaby Limited in which Mr

J Simpson, the director, is also a director.

Balances due from related company at balance sheet date were:

2016

2015

£

£

Jellybaby Limited

21,320

-

11.	ULTIMATE CONTROLLING PARTY

The Simpson Family Settlement and Mr J Simpson, the director, control the company by virtue of holding 100%

of the issued ordinary share capital of Charles Simpson Investments Limited.