Ellson Homes Ltd - Accounts to registrar (filleted) - small 18.2

ELLSON HOMES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

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

Unit 1 Gate Farm

High Street

Sutton Benger

Chippenham

Wiltshire

SN15 4RE

FIXED ASSETS

Tangible assets

4

59,927

80,560

CURRENT ASSETS

Stocks

5

1,232,811

1,625,051

Debtors

6

4,114,807

400,958

Cash at bank

257,338

1,924,067

5,604,956

3,950,076

CREDITORS

Amounts falling due within one year

7

5,400,932

3,765,843

NET CURRENT ASSETS

204,024

184,233

TOTAL ASSETS LESS CURRENT LIABILITIES

263,951

264,793

CREDITORS

Amounts falling due after more than one year

8

(20,629

)

(31,882

)

PROVISIONS FOR LIABILITIES

10

(11,386

)

(15,306

)

NET ASSETS

231,936

217,605

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

231,926

217,595

SHAREHOLDERS' FUNDS

231,936

217,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 by the Board of Directors on 18 December 2018 and were signed on its behalf by:

G A Hanson - Director

1.	STATUTORY INFORMATION

Ellson Homes Ltd 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.

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 is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs

in bringing stocks to their present location and condition.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2017

7,646

121,859

10,421

139,926

Additions

-

-

385

385

At 31 December 2017

7,646

121,859

10,806

140,311

DEPRECIATION

At 1 January 2017

3,712

49,971

5,683

59,366

Charge for year

984

17,973

2,061

21,018

At 31 December 2017

4,696

67,944

7,744

80,384

NET BOOK VALUE

At 31 December 2017

2,950

53,915

3,062

59,927

At 31 December 2016

3,934

71,888

4,738

80,560

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

Motor

vehicles

£

COST

At 1 January 2017

and 31 December 2017

95,546

DEPRECIATION

At 1 January 2017

32,618

Charge for year

15,733

At 31 December 2017

48,351

NET BOOK VALUE

At 31 December 2017

47,195

At 31 December 2016

62,928

5.

STOCKS

2017

2016

£

£

Work-in-progress

1,232,811

1,625,051

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

126

308

Amounts recoverable on contract

3,931,256

276,302

Other debtors

39,480

1,000

Directors' current accounts

47,657

33,862

Tax

13,086

8,602

VAT

82,531

80,304

Prepayments

671

580

4,114,807

400,958

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

1,031,121

-

Other loans

4,192,294

3,561,737

Hire purchase contracts

11,252

13,438

Trade creditors

101,673

95,568

Tax

35,120

83,816

Social security and other taxes

7,151

3,812

Other creditors

17,000

-

Credit Card 1

2,268

2,930

Accruals

3,053

4,542

5,400,932

3,765,843

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

20,629

31,882

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

1,031,121

-

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

11,386

15,306

Deferred

tax

£

Balance at 1 January 2017

15,306

Credit to Income Statement during year

(3,920

)

Balance at 31 December 2017

11,386

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2017 and

31 December 2016:

2017

2016

£

£

G A Hanson

Balance outstanding at start of year

8,391

7,309

Amounts advanced

71,793

21,826

Amounts repaid

(58,666

)

(20,744

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,518

8,391

I A Gay

Balance outstanding at start of year

25,471

24,729

Amounts advanced

668

742

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

26,139

25,471

Interest is being charged at the official rate of interest on the above loans.

12.	ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors who act in concert.