EMBER ESTATES LIMITED Company Accounts

EMBER ESTATES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00923509

EMBER ESTATES LIMITED

Filleted Unaudited Financial Statements

30 June 2017

EMBER ESTATES LIMITED

Financial Statements

Year ended 30 June 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

EMBER ESTATES LIMITED

Statement of Financial Position

30 June 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4	1,231	1,641
Investments	5	3,100,365	3,495,152
		---------------	---------------
		3,101,596	3,496,793

Current assets

Stocks		595,074	571,122
Debtors	6	3,961	5,419
Cash at bank and in hand		67,200	112,101
		-----------	-----------
		666,235	688,642

Creditors: amounts falling due within one year	7	1,016,653		1,378,398
		---------------		---------------
Net current liabilities			350,418	689,756
			---------------	---------------
Total assets less current liabilities			2,751,178	2,807,037

Creditors: amounts falling due after more than one year	8	578,453	575,453
		---------------	---------------
Net assets		2,172,725	2,231,584
		---------------	---------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	2,172,625	2,231,484
	---------------	---------------
Members funds	2,172,725	2,231,584
	---------------	---------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

EMBER ESTATES LIMITED

Statement of Financial Position (continued)

30 June 2017

For the year ending 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 19 April 2018 , and are signed on behalf of the board by:

Mr J M Hickman

Director

Company registration number: 00923509

EMBER ESTATES LIMITED

Notes to the Financial Statements

Year ended 30 June 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 July 2016 and 30 June 2017	15,263	15,263
	----------	----------
Depreciation
At 1 July 2016	13,622	13,622
Charge for the year	410	410
	----------	----------
At 30 June 2017	14,032	14,032
	----------	----------
Carrying amount
At 30 June 2017	1,231	1,231
	----------	----------
At 30 June 2016	1,641	1,641
	----------	----------

5. Investments

	Shares in group undertakings	Loans to group undertakings	Shares in participating interests	Total
	£	£	£	£
Cost
At 1 July 2016	1,468,747	1,436,482	589,923	3,495,152
Additions	–	–	469,000	469,000
Disposals	–	( 863,787)	–	(863,787)
	---------------	---------------	---------------	---------------
At 30 June 2017	1,468,747	572,695	1,058,923	3,100,365
	---------------	---------------	---------------	---------------
Impairment
At 1 July 2016 and 30 June 2017	–	–	–	–
	---------------	---------------	---------------	---------------

Carrying amount
At 30 June 2017	1,468,747	572,695	1,058,923	3,100,365
	---------------	---------------	---------------	---------------
At 30 June 2016	1,468,747	1,436,482	589,923	3,495,152
	---------------	---------------	---------------	---------------

99% of Share Capital of Chalford Property Company Limited (a company incorporated in England and Wales) was acquired during a previous period.

Group Accounts have not been prepared as the Group qualifies as a Small Group under Section 398 of the Companies Act 2006.

The net profit after tax of the subsidiary for the year to 30 June 2017 was £69,735 (2016 loss £57,2580) and the capital and reserves at that date amounted to £5,931,115 (2016 £5,862,3810).

6. Debtors

	2017	2016
	£	£
Other debtors	3,961	5,419
	--------	--------

7. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	5,611	8,642
Corporation tax	20,018	293,788
Unsecured Loan - Director	60,981	88,925
Other creditors	930,043	987,043
	---------------	---------------
	1,016,653	1,378,398
	---------------	---------------

8. Creditors: amounts falling due after more than one year

	2017	2016
	£	£
Unsecured Loan - Cox & Readman Developments Limited	578,453	575,453
	-----------	-----------

9. Related party transactions

The company was under the control of Mr J M Hickman throughout the current and previous year. Mr J M Hickman is a director and the majority shareholder. The unsecured loans from Mr J M Hickman and Mr M Hickman, directors of the company are referred to in Note 8 At 30 June 2017 and during the year then ended Mr M Hickman was interested as a shareholder in Cox & Readman Developments Limited. The unsecured loan from that company is referred to in Note 9. During a previous year the company acquired 99% of the Share Capital of Chalford Property Company Limited from Mr M Hickman. Part of the consideration for the purchase was the issue to Mr M Hickman of £1,161,437 Floating Rate Unsecured Loan Notes 2013.The outstanding amount is shown under Other Creditors in Note 8 These Loan Notes carry interest at the rate of 3% over Base Rate.