REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2020 |
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ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2020 |
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FOR |
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ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED |
ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED (REGISTERED NUMBER: 00245093) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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Balance Sheet | 1 |
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Notes to the Financial Statements | 3 |
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ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED (REGISTERED NUMBER: 00245093) |
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BALANCE SHEET |
31 DECEMBER 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Non distributable reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED (REGISTERED NUMBER: 00245093) |
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BALANCE SHEET - continued |
31 DECEMBER 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED (REGISTERED NUMBER: 00245093) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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1. | STATUTORY INFORMATION |
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Ellis & Sons Amalgamated Investments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 00245093 and registered office address is Shalden Park Steading, Shalden, Alton, Hampshire, GU34 4DS. |
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The functional currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The results are presented for the company as a single entity only. |
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Preparation of consolidated financial statements |
The company is a parent company subject to the small companies regime. The company and its subsidiaries comprise a small group, the company has not taken the option provided by Section 398 of the Companies Act 2006 to prepare group accounts. |
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Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
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Turnover |
Turnover represents gross rental income, excluding value added tax. |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less provision for permanent impairment. |
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Investment properties |
In accordance with the Financial Reporting Standard for Smaller Entities (effective 2015), investment properties are revalued annually to open market value and no depreciation is provided. The aggregate surplus or deficit arising on revaluation is transferred to the revaluation reserve except where a deficit is deemed to represent a permanent diminution in value, in which case it is charged to the profit and loss account. |
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Investment properties involving reversions may, in some cases, be sold and a replacement property purchased, which is then subject to a continuing lease in favour of the vendor of the original property. In such cases, the substitute property is valued at the time of its purchase at its then reversionary value. |
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Reversions may, in other cases, be sold during the lifetime of the vendor without a replacement property being purchased. This results in the creation of a welfare fund. Where the funds are transferred to the company during the vendor's lifetime the company recognises the transfer as both an asset and liability as the beneficial ownership transfers to the company upon the death of the vendor. Where the funds are retained by the vendor, the company recognises those funds as an asset to be realised upon the death of the vendor. |
ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED (REGISTERED NUMBER: 00245093) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets, which include other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised. |
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Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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Basic financial liabilities, including trade creditors, accruals and deferred income and amounts owed to group undertakings, that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
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Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Investments |
Fixed asset investments are included at cost less provision for any permanent impairment. |
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Going concern |
Based on current trading and future expectations, the directors are confident the company will continue to trade profitably in future periods and generate sufficient cash flows to meet its obligations as they fall due for payment. |
ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED (REGISTERED NUMBER: 00245093) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST |
At 1 January 2020 |
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129,313 |
Disposals | ( |
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(86,547 | ) |
At 31 December 2020 |
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42,766 |
NET BOOK VALUE |
At 31 December 2020 |
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42,766 |
At 31 December 2019 |
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129,313 |
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In the opinion of the directors, the aggregate value of the assets of the company consisting of shares in, or amounts owing from the subsidiary undertakings, is not less than the amounts at which those assets are stated or included in the company's balance sheet. |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2020 |
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Disposals | ( |
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Revaluations | 198,153 |
At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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Fair value at 31 December 2020 is represented by: |
£ |
Valuation in 0 | 1,608,928 |
Cost | 415,280 |
2,024,208 |
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The investment properties were valued on the tenanted open market value basis at 31 December 2020 by Mrs L G Montgomery, a director of the company, to the value of £2,024,209 (2019: £1,878,792). |
ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED (REGISTERED NUMBER: 00245093) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed by group undertakings |
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Other debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed to group undertakings |
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Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Welfare funds |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Welfare funds | 5,352 | 5,352 |
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10. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax on investment properties |
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Deferred |
tax |
£ |
Balance at 1 January 2020 |
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Provided during year |
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Balance at 31 December 2020 |
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ELLIS & SONS AMALGAMATED INVESTMENTS |
LIMITED (REGISTERED NUMBER: 00245093) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2020 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £1 | 33,595 | 34,775 |
(2019 - 34,775 ) |
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During the year, as part of a wider group restructure, the share capital of the company was reduced by 1,180 shares. |
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12. | ULTIMATE PARENT COMPANY |
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The company has no single immediate parent company. The company's ultimate parent company is Ellis Campbell Group Limited, a company incorporated in England and Wales. |