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REGISTERED NUMBER:
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J. ELLINGWORTH (CATERERS) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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REGISTERED NUMBER:
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J. ELLINGWORTH (CATERERS) LIMITED |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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J. ELLINGWORTH (CATERERS) LIMITED (REGISTERED NUMBER: 01053238) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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J. ELLINGWORTH (CATERERS) LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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J. ELLINGWORTH (CATERERS) LIMITED (REGISTERED NUMBER: 01053238) |
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STATEMENT OF FINANCIAL POSITION |
30 NOVEMBER 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Fair value reserve | 9 |
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Other reserves |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
J. ELLINGWORTH (CATERERS) LIMITED (REGISTERED NUMBER: 01053238) |
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STATEMENT OF FINANCIAL POSITION - continued |
30 NOVEMBER 2017 |
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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 director on
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J. ELLINGWORTH (CATERERS) LIMITED (REGISTERED NUMBER: 01053238) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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1. | STATUTORY INFORMATION |
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J. Ellingworth (Caterers) Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation 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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Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following |
annual rates in order to write off each asset over its estimated useful life. |
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Freehold property | - Straight line over 50 years |
Fixtures and fittings | - 25% on reducing balance |
Motor vehicles | - 25% on reducing balance |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
changes in fair value is recognised in profit or loss. |
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Taxation |
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the |
current or past reporting periods using tax rates that have been enacted or substantively enacted by |
the reporting date. |
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Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax |
losses and other deferred tax assets are recognised only to the extent that it is probable that they will |
be recovered against future taxable profits or against the reversal of deferred tax liabilities. |
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Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the |
reporting date that are expected to apply to the reversal of the timing difference. |
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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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Trade and other receivables |
Trade and other receivables are measured at transaction price less any impairment unless the |
arrangement constitutes a financing transaction in which case the transaction is measured at the |
present value of the future receipts discounted at the prevailing market rate of interest . Loans are |
initially measured at fair value and are subsequently measured at amortised cost using the effective |
interest method less any impairment. |
J. ELLINGWORTH (CATERERS) LIMITED (REGISTERED NUMBER: 01053238) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Trade and other payables |
Trade and other payables are measured at their transaction price unless the arrangement constitutes a |
financing transaction in which case the transaction is measured at present value of future payments |
discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair |
value net of their transaction costs. They are subsequently measured at amortised cost using the |
effective interest method. |
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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 |
Fixtures |
Freehold | and | Motor |
property | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 December 2016 |
and 30 November 2017 |
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DEPRECIATION |
At 1 December 2016 |
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Charge for year |
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At 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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5. | INVESTMENT PROPERTY |
Total |
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COST |
At 1 December 2016 |
and 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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Investment properties were valued on an open market basis at 30 November 2017 by a director of the |
company. |
J. ELLINGWORTH (CATERERS) LIMITED (REGISTERED NUMBER: 01053238) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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6. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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VAT |
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Prepayments and accrued income |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Corporation tax |
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Other creditors |
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Directors' current accounts | 9,741 | 12,647 |
Accruals and deferred income |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdraft |
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The bank overdraft is secured by charges over various assets of the company. |
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9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 December 2016 |
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Transfer between reserves | 7,482 |
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At 30 November 2017 |
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J. ELLINGWORTH (CATERERS) LIMITED (REGISTERED NUMBER: 01053238) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
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10. | RELATED PARTY DISCLOSURES |
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At the year end, D J King was owed £9,741 by the company (2016 - £12,647). |
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11. | FIRST YEAR ADOPTION |
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The company transitioned to FRS 102 from previously extant UK GAAP as at 1 December 2015. The |
impact from the transition relates to the transfer and revaluation of the investment properties owned by |
the company and the recognition of the deferred tax liability that may arise on any potential future sale |
of these investment properties. The deferred tax liability at transition date was £71,084 and the |
increase in the value of the investment properties of the company was £502,454 leading to a fair value |
reserve upon transition and at 30 November 2016 of £431,370. There was an increase profit after tax |
of £26,405 for the period ended 30 November 2016 which relates to depreciation charges for the year. |