Company Registration No. 01053238 (England and Wales)
J. ELLINGWORTH (CATERERS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2020
PAGES FOR FILING WITH REGISTRAR
J. ELLINGWORTH (CATERERS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
J. ELLINGWORTH (CATERERS) LIMITED
BALANCE SHEET
AS AT
29 NOVEMBER 2020
29 November 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
4
234,264
236,065
Investment properties
5
1,822,686
1,822,686
2,056,950
2,058,751
Current assets
Debtors
6
174,236
152,685
Cash at bank and in hand
97,579
18,340
271,815
171,025
Creditors: amounts falling due within one year
7
(483,852)
(447,189)
Net current liabilities
(212,037)
(276,164)
Total assets less current liabilities
1,844,913
1,782,587
Provisions for liabilities
(72,768)
(64,552)
Net assets
1,772,145
1,718,035
Capital and reserves
Called up share capital
800
800
Fair value reserve
431,369
438,852
Other reserves
450,200
450,200
Profit and loss reserves
889,776
828,183
Total equity
1,772,145
1,718,035
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 29 November 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he 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.
J. ELLINGWORTH (CATERERS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 NOVEMBER 2020
29 November 2020
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 12 November 2021
Mr D King
Director
Company Registration No. 01053238
J. ELLINGWORTH (CATERERS) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 NOVEMBER 2020
- 3 -
Share capital
Fair value reserve
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 30 November 2018
800
438,852
450,200
844,214
1,734,066
Year ended 29 November 2019:
Profit and total comprehensive income for the year
-
-
-
48,969
48,969
Dividends
-
-
-
(65,000)
(65,000)
Balance at 29 November 2019
800
438,852
450,200
828,183
1,718,035
Year ended 29 November 2020:
Profit and total comprehensive income for the year
-
-
-
54,110
54,110
Transfer of deferred tax on revaluation gain
-
(7,483)
-
7,483
-
Balance at 29 November 2020
800
431,369
450,200
889,776
1,772,145
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2020
- 4 -
1
Accounting policies
Company information
J. Ellingworth (Caterers) Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
53 Guildford Road, Bagshot, Surrey, United Kingdom, GU19 5NG.
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 are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
Freehold land and buildings
Straight line over 50 years
Fixtures and fittings
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure
. Subsequently it is measured
at fair value a
t
the reporting end date.
Changes in fair value are recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include
deposits held at call with banks
.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument
.
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2020
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include
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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including
creditors
, 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
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2020
- 6 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is 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.
Critical judgements
The followin
g critical estimates and assumptions
have had the most significant
effect on amounts recognised in the financial statements.
Investment properties
The company's investment properties are valued, on the basis of market value, by the director of the company. The investment properties are valued at £1,822,686 at the period end.
The director is of the opinion that the estimates and assumptions that they have used in the valuation of the investment properties are appropriate.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
1
1
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2020
- 7 -
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 30 November 2019
252,499
30,710
3,170
286,379
Additions
5,852
5,852
At 29 November 2020
252,499
36,562
3,170
292,231
Depreciation and impairment
At 30 November 2019
24,408
22,792
3,114
50,314
Depreciation charged in the year
5,050
2,589
14
7,653
At 29 November 2020
29,458
25,381
3,128
57,967
Carrying amount
At 29 November 2020
223,041
11,181
42
234,264
At 29 November 2019
228,091
7,918
56
236,065
5
Investment property
2020
£
Fair value
At 30 November 2019 and 29 November 2020
1,822,686
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2020
2019
£
£
Cost
1,254,878
1,254,878
Carrying amount
1,254,878
1,254,878
J. ELLINGWORTH (CATERERS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2020
- 8 -
6
Debtors
2020
2019
Amounts falling due within one year:
£
£
Corporation tax recoverable
32,862
Other debtors
141,374
139,570
174,236
139,570
2020
2019
Amounts falling due after more than one year:
£
£
Other debtors
13,115
Total debtors
174,236
152,685
7
Creditors: amounts falling due within one year
2020
2019
£
£
Bank loans
38,625
Corporation tax
31,305
29,988
Other taxation and social security
424
Other creditors
413,922
416,777
483,852
447,189
8
Creditors: amounts falling due after more than one year
Creditors which fall due after five years are as follows:
2020
2019
£
£
Payable by instalments
5,150
-
9
Related party transactions
At 30 November 2019 and 29 November 2020, the director owed £95,160 to the company.
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17 November 2021
CCH Software
CCH Accounts Production 2021.300
No description of principal activity
Mr D King
Mr D King
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