ACCOUNTS - Final Accounts preparation

EWART ESTATES LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-04-01 10092446 2017-04-01 2018-03-31 10092446 2016-04-01 2017-03-31 10092446 2018-03-31 10092446 2017-03-31 10092446 2016-04-01 10092446 c:Director1 2017-04-01 2018-03-31 10092446 c:RegisteredOffice 2017-04-01 2018-03-31 10092446 d:FurnitureFittings 2017-04-01 2018-03-31 10092446 d:FurnitureFittings 2018-03-31 10092446 d:FurnitureFittings 2017-03-31 10092446 d:FurnitureFittings d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 10092446 d:FreeholdInvestmentProperty 2018-03-31 10092446 d:FreeholdInvestmentProperty 2017-03-31 10092446 d:CurrentFinancialInstruments 2018-03-31 10092446 d:CurrentFinancialInstruments 2017-03-31 10092446 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 10092446 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 10092446 d:ShareCapital 2018-03-31 10092446 d:ShareCapital 2016-04-01 2017-03-31 10092446 d:ShareCapital 2017-03-31 10092446 d:ShareCapital 2016-04-01 10092446 d:RetainedEarningsAccumulatedLosses 2017-04-01 2018-03-31 10092446 d:RetainedEarningsAccumulatedLosses 2018-03-31 10092446 d:RetainedEarningsAccumulatedLosses 2016-04-01 2017-03-31 10092446 d:RetainedEarningsAccumulatedLosses 2017-03-31 10092446 c:FRS102 2017-04-01 2018-03-31 10092446 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 10092446 c:FullAccounts 2017-04-01 2018-03-31 10092446 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 iso4217:GBP xbrli:pure

Registered number: 10092446

EWART ESTATES LIMITED

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2018


EWART ESTATES LIMITED

COMPANY INFORMATION

Director	G Ewart


Registered number	10092446


Registered office	Withey Court
	Western Industrial Estate
	Caerphilly
	Wales
	CF83 1BF


EWART ESTATES LIMITED

CONTENTS

	Page
Director's responsibilities statement	1
Balance sheet	2 - 3
Statement of changes in equity	4
Notes to the financial statements	5 - 8


EWART ESTATES LIMITED

DIRECTOR'S RESPONSIBILITIES STATEMENT

FOR THE YEAR ENDED 31 MARCH 2018

The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the director is required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgments and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 1


EWART ESTATES LIMITED REGISTERED NUMBER:10092446

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	4		404		475
Investment property			338,179		338,179
			338,583		338,654
Current assets
Debtors: amounts falling due within one year	6	1,257		2,725
Cash at bank and in hand	7	23,277		17,585
		24,534		20,310
Creditors: amounts falling due within one year	8	(343,475)		(356,149)
Net current liabilities			(318,941)		(335,839)
Total assets less current liabilities			19,642		2,815

Net assets			19,642		2,815

Capital and reserves
Called up share capital	100	100
Profit and loss account	19,542	2,715
	19,642	2,815

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 May 2018.

Page 2


EWART ESTATES LIMITED REGISTERED NUMBER:10092446

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2018

G Ewart

Director

The notes on pages 5 to 8 form part of these financial statements.

Page 3


EWART ESTATES LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2018

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2016	75	-	75
Comprehensive income for the year
Profit for the year	-	2,715	2,715
Shares issued during the year	25	-	25

At 1 April 2017	100	2,715	2,815
Comprehensive income for the year
Profit for the year	-	16,827	16,827
At 31 March 2018	100	19,542	19,642

Page 4


EWART ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

1.	General information

Ewart Estates Limited is a limited liability company incorporated in England and Wales. The registered office is Withey Court, Western Industrial Estate, Caerphilly, Wales, CF83 1BF.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The company made a profit during the period but at the balance sheet date had net current liabilities although the overall balance sheet was positive. The company meets its day to day cash requirements from it's director loan facilities. The accounts have been prepared on a going concern basis which assumes that these facilities will continue to be available to the company. If they were to be withdrawn the assets and liabilities would have to be restated to market value. The director considers that the accounts should be prepared on a going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and rebates.

Rental income

Revenue from rental income is recognised in the period in which it relates to.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings

15%

reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Page 5


EWART ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

2.Accounting policies (continued)

2.5

Investment property

Investment property is carried at fair value determined annually by the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from related parties. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

2.9

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including the director, during the year was 1 (2017- 1).

Page 6


EWART ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 April 2017	559
	At 31 March 2018	559
	Depreciation
	At 1 April 2017	84
	Charge for the year on owned assets	71
	At 31 March 2018	155
	Net book value
	At 31 March 2018	404

5.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2017	338,179
	At 31 March 2018	338,179

The 2018 valuations were made by the director, on an open market value for existing use basis.

Debtors

					2018	2017
					£	£


Trade debtors	517	2,082
Other debtors	423	423
Prepayments and accrued income	317	220
	1,257	2,725

Page 7


EWART ESTATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

6.Debtors (continued)

7.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	23,277	17,585
	23,277	17,585

8.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Corporation tax	3,964	795
Other creditors	336,461	350,669
Accruals and deferred income	3,050	4,685
	343,475	356,149

9.	Related party transactions
	Control During the year the company was controlled by the director. Transactions During the year, the company made advances to the director of £15,000. Credits were received of £792 which resulted in amounts due from the company at the year end of £336,461 (2017 - £350,669). The loan is unsecured and interest free with no fixed repayment terms in place.

Page 8