Edgemoor (Helmsley) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 05240653 (England and Wales)

Financial Statements for the Year Ended 30 November 2017

for

Edgemoor (Helmsley) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

10

DIRECTORS:

G E Skinner

Mrs M A Skinner

SECRETARY:

G E Skinner

REGISTERED OFFICE:

Station Road

Helmsley

North Yorkshire

YO62 5BZ

REGISTERED NUMBER:

05240653 (England and Wales)

ACCOUNTANTS:

Eura Audit UK Ripon

Eva Lett House

1 South Crescent

Ripon

North Yorkshire

HG4 1SN

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

165,207

173,625

165,207

173,625

CURRENT ASSETS

Stocks

5

23,382

21,162

Debtors

6

42,940

51,159

Cash at bank and in hand

47,723

4,804

114,045

77,125

CREDITORS

Amounts falling due within one year

7

121,462

135,166

NET CURRENT LIABILITIES

(7,417

)

(58,041

)

TOTAL ASSETS LESS CURRENT LIABILITIES

157,790

115,584

CREDITORS

Amounts falling due after more than one year

8

(1,083

)

(4,067

)

PROVISIONS FOR LIABILITIES

(8,569

)

(9,193

)

NET ASSETS

148,138

102,324

CAPITAL AND RESERVES

Called up share capital

4,000

4,000

Revaluation reserve

10

32,550

32,550

Retained earnings

111,588

65,774

SHAREHOLDERS' FUNDS

148,138

102,324

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2017 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 and authorised for issue by the Board of Directors on 10 April 2018 and were signed on its behalf by:

G E Skinner - Director

1.	STATUTORY INFORMATION

Edgemoor (Helmsley) 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less

any accumulated amortisation and any accumulated impairment losses.

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.

Freehold Property

-

2% on revalued cost

Improvements to Property

-

10% on cost

Plant and Machinery

-

15% on reducing balance

Fixtures and Fittings

-

15% on reducing balance

Motor Vehicles

-

25% on reducing balance

Computer Equipment

-

15% on reducing balance

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 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.

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 profit or loss 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 profit or loss in the period to which they relate.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2016

and 30 November 2017

70,000

AMORTISATION

At 1 December 2016

and 30 November 2017

70,000

NET BOOK VALUE

At 30 November 2017

-

At 30 November 2016

-

Goodwill acquired in 2004 arose on the purchase of the trade and assets of Edgemoor Veterinary Practice.

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

Property

Property

Machinery

£

£

£

COST OR VALUATION

At 1 December 2016

152,550

32,302

79,438

Additions

-

-

5,714

At 30 November 2017

152,550

32,302

85,152

DEPRECIATION

At 1 December 2016

31,525

28,481

49,186

Charge for year

3,050

3,230

5,395

At 30 November 2017

34,575

31,711

54,581

NET BOOK VALUE

At 30 November 2017

117,975

591

30,571

At 30 November 2016

121,025

3,821

30,252

Fixtures

and

Motor

Computer

Fittings

Vehicles

Equipment

Totals

£

£

£

£

COST OR VALUATION

At 1 December 2016

35,654

6,500

30,781

337,225

Additions

-

-

515

6,229

At 30 November 2017

35,654

6,500

31,296

343,454

DEPRECIATION

At 1 December 2016

30,021

5,344

19,043

163,600

Charge for year

845

289

1,838

14,647

At 30 November 2017

30,866

5,633

20,881

178,247

NET BOOK VALUE

At 30 November 2017

4,788

867

10,415

165,207

At 30 November 2016

5,633

1,156

11,738

173,625

Cost or valuation at 30 November 2017 is represented by:

Improvements

Freehold

to

Plant and

Property

Property

Machinery

£

£

£

Valuation in 2013

32,550

-

-

Cost

120,000

32,302

85,152

152,550

32,302

85,152

Fixtures

and

Motor

Computer

Fittings

Vehicles

Equipment

Totals

£

£

£

£

Valuation in 2013

-

-

-

32,550

Cost

35,654

6,500

31,296

310,904

35,654

6,500

31,296

343,454

If freehold property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

120,000

120,000

Aggregate depreciation

31,200

28,800

Freehold property was valued on an open market basis basis on 1 January 2013 by the directors. .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Machinery

£

COST OR VALUATION

At 1 December 2016

32,195

Additions

2,999

Transfer to ownership

(19,995

)

At 30 November 2017

15,199

DEPRECIATION

At 1 December 2016

12,953

Charge for year

2,005

Transfer to ownership

(11,123

)

At 30 November 2017

3,835

NET BOOK VALUE

At 30 November 2017

11,364

At 30 November 2016

19,242

5.

STOCKS

2017

2016

£

£

Stocks

23,382

21,162

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade Debtors

32,286

38,965

Prepayments and Accrued Income

10,654

12,194

42,940

51,159

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

694

1,533

Hire purchase contracts

5,067

7,732

Trade Creditors

35,315

31,626

Taxation

15,122

11,489

Other Taxes and PAYE

15,770

17,756

Directors' current accounts

46,278

59,279

Accruals and Deferred Income

3,216

5,751

121,462

135,166

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

1,083

4,067

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

694

1,533

HSBC Bank plc hold a debenture including a fixed equitable charge over all of the company's property and fixed &

floating charge over all of the company's assets. The Bank also hold a first legal charge over the property known as 4

Howe End, Kirkbymoorside.

10.

RESERVES

Revaluation

reserve

£

At 1 December 2016

and 30 November 2017

32,550

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company occupies a property in Station Road, Helmsley which is jointly owned by the Directors, G E & Mrs M

A Skinner.

During the year rent of £27,000 (2016:£27,000) was paid for the use of this property.

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2016 - £10,000) were paid to the directors .

13.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 November 2017 set out on pages three to twelve and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Eura Audit UK Ripon

Eva Lett House

1 South Crescent

Ripon

North Yorkshire

HG4 1SN

Date: .............................................