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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020 |
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BLACK EAGLE ESTATES LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020 |
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FOR |
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BLACK EAGLE ESTATES LIMITED |
BLACK EAGLE ESTATES LIMITED (REGISTERED NUMBER: 06866991) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2020 |
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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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BLACK EAGLE ESTATES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
2 Station Road West |
Oxted |
Surrey |
RH8 9EP |
BLACK EAGLE ESTATES LIMITED (REGISTERED NUMBER: 06866991) |
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BALANCE SHEET |
30 JUNE 2020 |
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2020 | 2019 |
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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Fair value reserve | 9 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
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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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BLACK EAGLE ESTATES LIMITED (REGISTERED NUMBER: 06866991) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2020 |
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1. | STATUTORY INFORMATION |
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Black Eagle Estates Limited 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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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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Tangible fixed assets |
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment |
losses. Depreciation is provided on all tangible fixed assets , other than freehold land, at rates calculated to write |
off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixture and fittings - 20% reducing balance |
Property improvements - 10% straight line |
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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. |
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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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BLACK EAGLE ESTATES LIMITED (REGISTERED NUMBER: 06866991) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2020 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 July 2019 |
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Additions |
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At 30 June 2020 |
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DEPRECIATION |
At 1 July 2019 |
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Charge for year |
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At 30 June 2020 |
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NET BOOK VALUE |
At 30 June 2020 |
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At 30 June 2019 |
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Cost or valuation at 30 June 2020 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2018 | 330,798 | - | 330,798 |
Cost | 1,769,202 | 124,099 | 1,893,301 |
2,100,000 | 124,099 | 2,224,099 |
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If freehold land and buildings had not been revalued they would have been included at the following historical |
cost: |
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2020 | 2019 |
£ | £ |
Cost | 1,769,202 | 1,769,202 |
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Directors agree with the current market value stated for freehold land and buildings. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Prepayments |
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BLACK EAGLE ESTATES LIMITED (REGISTERED NUMBER: 06866991) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2020 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | 1 | 100 | 100 |
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9. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 July 2019 |
and 30 June 2020 |
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10. | RELATED PARTY DISCLOSURES |
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Sanfield Holdings Limited |
Included within other creditors is a loan from the parent company, Sanfield Holdings Limited, amounting to |
£1,162,518 (2019 - £1,158,984) in less than one year and £178,741 (2019 - £269,315) in greater than one year. |
Whilst there are no fixed terms to repayment and the loan is non-interest bearing, the parent company has |
indicated that is has no immediate intention of requiring repayments apart from £269,316 (2019 - £356,356) |
which has a repayment agreement in place. |
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London Chemicals & Resources Limited |
During the year, the company received £39,062 (2019 £42,045) from London Chemicals & Resources Limited in |
respect of rent and service charges at market value under a formal lease. The director, Richard Bartholomew |
and Jer-Bin Wang, both have an interest in London Chemicals & Resources Limited. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate parent company is Sanfield Holdings Limited, a company registered in Samoa. The ultimate |
controlling party is Jer-Bin Wang. |