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Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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ELSIE WHITELEY INNOVATION CENTRE LTD |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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ELSIE WHITELEY INNOVATION CENTRE LTD |
ELSIE WHITELEY INNOVATION CENTRE LTD (REGISTERED NUMBER: 05847775) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ELSIE WHITELEY INNOVATION CENTRE LTD |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor Chartered Accountants |
52 St Johns Lane |
Halifax |
West Yorkshire |
HX1 2BW |
ELSIE WHITELEY INNOVATION CENTRE LTD (REGISTERED NUMBER: 05847775) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 5 |
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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 |
6 |
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( |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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ELSIE WHITELEY INNOVATION CENTRE LTD (REGISTERED NUMBER: 05847775) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Elsie Whiteley Innovation Centre Ltd is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Turnover relates to rents due from tenants and the provision of associated services. |
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Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Long leasehold | - |
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Office equipment | - |
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Fixtures & fittings | - |
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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. |
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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. |
ELSIE WHITELEY INNOVATION CENTRE LTD (REGISTERED NUMBER: 05847775) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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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. |
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3. | TANGIBLE FIXED ASSETS |
Long | Office | Fixtures |
leasehold | equipment | & fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
as restated |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
as restated |
£ | £ |
Other loans (see note 7) |
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Trade creditors |
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Amounts owed to group undertakings |
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VAT | 3,994 | 2,922 |
Accruals and deferred income |
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ELSIE WHITELEY INNOVATION CENTRE LTD (REGISTERED NUMBER: 05847775) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.19 | 31.3.18 |
as restated |
£ | £ |
Other loans (see note 7) |
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7. | LOANS |
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An analysis of the maturity of loans is given below: |
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31.3.19 | 31.3.18 |
as restated |
£ | £ |
Amounts falling due within one year or on demand: |
Other loans |
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Amounts falling due between one and two years: |
Other loans - 1-2 years | - |
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Amounts falling due between two and five years: |
Other loans - 2-5 years |
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8. | PROVISIONS FOR LIABILITIES |
31.3.19 | 31.3.18 |
as restated |
£ | £ |
Deferred tax | 19,804 | 17,670 |
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Deferred |
tax |
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Balance at 1 April 2018 |
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Charge to Income Statement during year |
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Balance at 31 March 2019 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.19 | 31.3.18 |
value: | as restated |
£ | £ |
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Ordinary | 100 | 100 | 100 |
ELSIE WHITELEY INNOVATION CENTRE LTD (REGISTERED NUMBER: 05847775) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1 April 2018 |
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Profit for the year |
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Dividends | ( |
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At 31 March 2019 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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12. | RELATED PARTY DISCLOSURES |
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GNS Limited |
A company owned by K Saeed, a trustee of the parent charity. |
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31.3.19 | 31.3.18 |
£ | £ |
Creditor | - | 372 |
Expenditure : Computer and CCTV equipment | 2,259 | 3,648 |
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Holly Lynch MP |
Holly Lynch MP, a trustee of the parent charity. |
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31.3.19 | 31.3.17 |
£ | £ |
Income Received - Rents and recharges | 7,516 | 7,762 |
Debtor | 37 | 88 |
Tenant deposit held at year end | 918 | 918 |
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13. | POST BALANCE SHEET EVENTS |
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A distribution of £86,020 to the parent charity, Halifax Opportunities Trust, has been agreed based on these |
financial statements. This distribution will be paid within 9 months of the financial year end. |
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14. | ULTIMATE CONTROLLING PARTY |
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The company is under the control of the trustees of Halifax Opportunities Trust, its parent charitable company, |
which owns 100% of the share capital of Elsie Whiteley Innovation Centre. |