Ellson Homes Ltd - Limited company - abbreviated - 11.6

ELLSON HOMES LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

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

34,795

42,871

CURRENT ASSETS

Stocks

725,755

465,113

Debtors

1,744,832

142,525

Cash at bank

39,810

16,392

2,510,397

624,030

CREDITORS

Amounts falling due within one year

3

2,505,766

584,785

NET CURRENT ASSETS

4,631

39,245

TOTAL ASSETS LESS CURRENT LIABILITIES

39,426

82,116

CREDITORS

Amounts falling due after more than one year

(21,830

)

(30,133

)

PROVISIONS FOR LIABILITIES

(6,864

)

(8,458

)

NET ASSETS

10,732

43,525

CAPITAL AND RESERVES

Called up share capital

4

10

10

Profit and loss account

10,722

43,515

SHAREHOLDERS' FUNDS

10,732

43,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 26 November 2014 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 April 2008).

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 2013

54,244

Additions

3,748

At 31 March 2014

57,992

DEPRECIATION

At 1 April 2013

11,373

Charge for year

11,824

At 31 March 2014

23,197

NET BOOK VALUE

At 31 March 2014

34,795

At 31 March 2013

42,871

3.

CREDITORS

Creditors include an amount of £ 185,046 for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

10

Ordinary

£1

10

10

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2014 and

31 March 2013:

2014

2013

£

£

G A Hanson

Balance outstanding at start of year

4,622

-

Amounts repaid

(96,512

)

-

Balance outstanding at end of year

(533

)

4,622

I A Gay

Balance outstanding at start of year

22,360

-

Amounts repaid

(1,672

)

-

Balance outstanding at end of year

21,549

22,360

Interest is being charged at 4% on the above loans.