Company registration number 03288522 (England and Wales)
ENDICOTT INVESTMENTS LTD
Unaudited financial statements
For the year ended 30 June 2022
Pages for filing with registrar
ENDICOTT INVESTMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ENDICOTT INVESTMENTS LTD
BALANCE SHEET
As at 30 June 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Investments
5
170,353
Current assets
Stocks
1,417,795
2,418,022
Debtors
6
680,480
168,894
Cash at bank and in hand
2,805,311
3,054,648
4,903,586
5,641,564
Creditors: amounts falling due within one year
7
(339,090)
(749,922)
Net current assets
4,564,496
4,891,642
Net assets
4,734,849
4,891,642
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss reserves
4,733,849
4,890,642
Total equity
4,734,849
4,891,642
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 March 2024 and are signed on its behalf by:
Mr Rory Hamilton-Brown
Director
Company Registration No. 03288522
ENDICOTT INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2022
- 2 -
1
Accounting policies
Company information
Endicott Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, London, SW19 7JY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided and property or securities sold in the normal course of business.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.6
Stocks
Stocks of property and listed and unlisted securities are stated at cost.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price. Financial assets classified as receivable within one year are not amortised.
ENDICOTT INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2022
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
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.
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.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
ENDICOTT INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2022
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2021 and 30 June 2022
54,319
Depreciation and impairment
At 1 July 2021 and 30 June 2022
54,319
Carrying amount
At 30 June 2022
At 30 June 2021
5
Fixed asset investments
2022
2021
£
£
Loans to group undertakings and participating interests
170,353
Movements in fixed asset investments
Loans to joint ventures
£
Cost or valuation
At 1 July 2021
-
Additions
170,353
At 30 June 2022
170,353
Carrying amount
At 30 June 2022
170,353
At 30 June 2021
-
6
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
680,480
168,894
ENDICOTT INVESTMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2022
- 5 -
7
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
169,835
733,144
Corporation tax
162,500
Other creditors
6,755
16,778
339,090
749,922