ESVW Holdings Ltd - Period Ending 2018-09-30

Registration number: 9312172

ESVW Holdings Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2018

(taking advantage of s444 of the Companies Act 2006)

Stables Thompson & Briscoe
Chartered Accountants & Business Advisers
Lowther House
Lowther Street
Kendal
Cumbria
LA9 4DX

ESVW Holdings Ltd

(Registration number: 9312172)
Balance Sheet as at 30 September 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	3	4,748	5,482
Investment property	4	224,654	224,654
		229,402	230,136
Current assets
Stocks	5	351,968	284,380
Debtors	6	7,597	7,967
Cash at bank and in hand		542,899	657,283
		902,464	949,630
Creditors: Amounts falling due within one year	7	(38,235)	(21,808)
Net current assets		864,229	927,822
Net assets		1,093,631	1,157,958
Capital and reserves
Called up share capital		132	132
Profit and loss account		1,093,499	1,157,826
Total equity		1,093,631	1,157,958

For the financial year ending 30 September 2018 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' report and Profit and Loss Account has been taken.

Approved and authorised by the Board on 21 December 2018 and signed on its behalf by:
 

.........................................

Mrs LA MacFarlaine
Director

The notes on pages 2 to 4 form an integral part of these financial statements.

Page 1

ESVW Holdings Ltd

Notes to the Financial Statements for the Year Ended 30 September 2018

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom (England and Wales).

The address of its registered office is:
Lowther House
Lowther Street
Kendal
Cumbria
LA9 4DX

These financial statements were authorised for issue by the Board on 21 December 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	33% straight line
Furniture and fittings	10% straight line

Page 2

ESVW Holdings Ltd

Notes to the Financial Statements for the Year Ended 30 September 2018

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

3	Tangible assets

	Furniture, fittings and equipment  £	Computer equipment  £	Total £
Cost or valuation
At 1 October 2017	5,594	622	6,216
At 30 September 2018	5,594	622	6,216
Depreciation
At 1 October 2017	559	175	734
Charge for the year	560	174	734
At 30 September 2018	1,119	349	1,468
Carrying amount
At 30 September 2018	4,475	273	4,748
At 30 September 2017	5,231	251	5,482

4	Investment properties

	2018 £
At 1 October	224,654

There has been no valuation of investment property by an independent valuer.

5

Stocks

	2018 £	2017 £
Property purchase and development costs	351,968	284,380

6

Debtors

	2018 £	2017 £
Other debtors	7,597	7,207
Prepayments and accrued income	-	760
Less non-current portion	(7,597)	(7,207)
Total current trade and other debtors	-	760

Page 3

ESVW Holdings Ltd

Notes to the Financial Statements for the Year Ended 30 September 2018

Details of non-current trade and other debtors

£7,597 (2017 -£7,207) of other debtors is classified as non current.

7

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Other creditors	27,778	20,545
Accruals and deferred income	10,457	1,263
	38,235	21,808

Page 4