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Financial Statements |
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for the Year Ended 31st March 2020 |
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for |
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ELSIE WHITELEY INNOVATION CENTRE LTD |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31st March 2020 |
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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 31st March 2020 |
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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 31st March 2020 |
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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 |
31st March 2020 |
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31/3/20 | 31/3/19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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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 and authorised for issue on
were signed on its behalf 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 31st March 2020 |
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1. | STATUTORY INFORMATION |
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Elsie Whiteley Innovation Centre Ltd is a
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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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ELSIE WHITELEY INNOVATION CENTRE LTD (REGISTERED NUMBER: 05847775) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st March 2020 |
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2. | ACCOUNTING POLICIES - continued |
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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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. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Long | Office | Fixtures | Computer |
leasehold | equipment | & fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2019 |
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Additions |
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Transfer to ownership | - | - | 9,270 | 10,256 | 19,526 |
At 31st March 2020 |
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DEPRECIATION |
At 1st April 2019 |
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Charge for year |
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Transfer to ownership | - | - | 8,938 | 10,256 | 19,194 |
At 31st March 2020 |
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NET BOOK VALUE |
At 31st March 2020 |
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At 31st March 2019 |
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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 31st March 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/20 | 31/3/19 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/3/20 | 31/3/19 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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VAT | 15,337 | 3,994 |
Accruals and deferred income |
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7. | PROVISIONS FOR LIABILITIES |
31/3/20 | 31/3/19 |
£ | £ |
Deferred tax | 18,714 | 19,804 |
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Deferred |
tax |
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Balance at 1st April 2019 |
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Credit to Income Statement during year | ( |
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Provision transferred | 63 |
Balance at 31st March 2020 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/3/20 | 31/3/19 |
value: | £ | £ |
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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 31st March 2020 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1st April 2019 |
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Profit for the year |
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Dividends | ( |
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Transfer of undertakings | 13,301 |
At 31st March 2020 |
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10. | 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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11. | 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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31.3.20 | 31.3.19 |
£ | £ |
Creditor | - | - |
Expenditure : Computer and CCTV equipment | 3,883 | 2,259 |
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12. | POST BALANCE SHEET EVENTS |
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A distribution of £74,465 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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13. | 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. |
ELSIE WHITELEY INNOVATION CENTRE LTD (REGISTERED NUMBER: 05847775) |
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Notes to the Financial Statements - continued |
for the Year Ended 31st March 2020 |
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14. | TRANSFER OF UNDERTAKINGS |
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On 24 March 2020 the members of Hanson Lane Enterprise Centre Limited, a fellow Halifax Opportunities Trust |
subsidiary, agreed and approved the following resolution. |
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"To transfer all the trading activities, contractual obligations, assets and liabilities at 31 March 2020 to fellow Halifax |
Opportunities Trust subsidiary Else Whiteley Innovation Centre Ltd and for Hanson Lane Enterprise Centre Ltd to |
become dormant." |
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These financial statements therefore include the assets and liabilities transferred from Hanson Lane Enterprise |
Centre Ltd to Elsie Whiteley Innovation Centre at 31 March 2020 as per the below: |
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31.3.20 |
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FIXED ASSETS |
Tangible assets | 332 |
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CURRENT ASSETS |
Debtors | 7,340 |
Cash at bank and in hand | 61,009 |
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CREDITORS |
Amounts falling due wihtin one year | (55,317 | ) |
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PROVISIONS FOR LIABILITIES | (63 | ) |
NET ASSETS | 13,301 |