Black Eagle Estates Limited
|
Registered number: |
06866991
|
Balance Sheet |
as at 30 June 2017
|
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Tangible assets |
2 |
|
|
1,825,198 |
|
|
1,825,642 |
|
Current assets |
Debtors |
3 |
|
32,416 |
|
|
33,809 |
Cash at bank and in hand |
|
|
23,084 |
|
|
57,290 |
|
|
|
55,500 |
|
|
91,099 |
|
Creditors: amounts falling due within one year |
4 |
|
(1,239,022) |
|
|
(1,316,786) |
|
Net current liabilities |
|
|
|
(1,183,522) |
|
|
(1,225,687) |
|
Total assets less current liabilities |
|
|
|
641,676 |
|
|
599,955 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(450,000) |
|
|
(480,000) |
|
|
|
Net assets |
|
|
|
191,676 |
|
|
119,955 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
6 |
|
|
100 |
|
|
100 |
Profit and loss account |
7 |
|
|
191,576 |
|
|
119,855 |
|
Shareholders' funds |
|
|
|
191,676 |
|
|
119,955 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
|
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
|
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
|
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
|
|
|
|
|
R J Bartholomew |
Director |
Approved by the board on 21 March 2018
|
|
Black Eagle Estates Limited
|
Notes to the Accounts |
for the year ended 30 June 2017
|
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
|
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
|
|
|
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:
|
|
|
Fixtures and fittings |
20% reducing balance |
|
Property Improvements |
10% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
|
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price).
|
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
|
|
|
2 |
Tangible fixed assets |
|
|
Land and buildings |
|
Fixtures and Fittings |
|
Property Improvements |
|
Total |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2016 |
1,769,202 |
|
27,440 |
|
79,351 |
|
1,875,993 |
|
Additions |
- |
|
10,038 |
|
- |
|
10,038 |
|
At 30 June 2017 |
1,769,202 |
|
37,478 |
|
79,351 |
|
1,886,031 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2016 |
- |
|
18,611 |
|
31,740 |
|
50,351 |
|
Charge for the year |
- |
|
2,547 |
|
7,935 |
|
10,482 |
|
At 30 June 2017 |
- |
|
21,158 |
|
39,675 |
|
60,833 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2017 |
1,769,202 |
|
16,320 |
|
39,676 |
|
1,825,198 |
|
At 30 June 2016 |
1,769,202 |
|
8,829 |
|
47,611 |
|
1,825,642 |
|
|
|
3 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Trade debtors |
30,651 |
|
33,110 |
|
Other debtors |
1,765 |
|
699 |
|
|
|
|
|
|
32,416 |
|
33,809 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Bank loans and overdrafts |
30,000 |
|
30,000 |
|
Trade creditors |
15,621 |
|
11,080 |
|
Taxation and social security costs |
27,050 |
|
27,058 |
|
Other creditors |
1,166,351 |
|
1,248,648 |
|
|
|
|
|
|
1,239,022 |
|
1,316,786 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
£ |
£ |
|
|
Bank loans |
450,000 |
|
480,000 |
|
|
|
|
|
|
|
|
|
6 |
Share Capital |
Nominal Value |
2017 Number |
2017 |
|
2016 |
£ |
£ |
|
Alloted, called up and fully paid: |
|
Ordinary shares |
£1 each |
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
7 |
Profit and loss account |
2017 |
£ |
|
|
At July 2016 |
119,855 |
|
Profit for the year |
|
71,721 |
|
At 30 June 2017 |
191,576 |
|
|
|
|
|
|
|
|
8 |
Related party transactions |
|
|
Sanfield Holdings Limited |
|
Included within other creditors is a loan from the parent company, Sanfield Holdings Limited, amounting to £1,096,943 (2016:£1,186,943). Whilst there are no fixed terms for repayment and the loan is non-interest bearing, the parent company has indicated that it has no immediate intention of requiring repayments.
|
|
|
London Chemicals & Resources Limited |
|
During the year, the company received £19,600 (2016:£15,600) from London Chemicals & Resources Limited in respect of rent 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. |
|
|
|
|
9 |
Ultimate Controlling party |
|
|
The ultimate parent company is Sanfield Holdings Limited, a company registered in Samoa. The ultimate controlling party is Jer-Bin Wang.
|
|
|
10 |
Other information |
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|
Black Eagle Estates Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
General Wolfe House |
|
83 High Street |
|
Westerham |
|
Kent |
|
TN16 1PG |