Second Poore Limited - Limited company accounts 18.2

Second Poore Limited - Limited company accounts 18.2

SECOND POORE LIMITED - Company Information

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REGISTERED NUMBER: 00787649 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Second Poore Limited
Janice Cope
Chartered Certified Accountants
104 Henniker Gate
Chelmsford
Essex
CM2 6SB








Second Poore Limited (Registered number: 00787649)






Contents of the Financial Statements
for the Year Ended 31 December 2018




Page

Company Information 1

Report of the Directors 2

Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


Second Poore Limited

Company Information
for the Year Ended 31 December 2018







DIRECTORS: Lord Borwick
Lady Borwick
Hon. T Borwick
Hon. Miss A Borwick



REGISTERED OFFICE: 15 Great College Street
London
SW1P 3RX



REGISTERED NUMBER: 00787649 (England and Wales)



ACCOUNTANTS: Janice Cope
Chartered Certified Accountants
104 Henniker Gate
Chelmsford
Essex
CM2 6SB



BANKERS: C Hoare & Co
37 Fleet Street
London
EC4P 4DQ
Page 1
Second Poore Limited (Registered number: 00787649)

Report of the Directors
for the Year Ended 31 December 2018

The directors present their report with the financial statements of the company for the year ended 31 December 2018.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of an Investment Holding Company.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2018 to the date of this
report.

Lord Borwick
Lady Borwick
Hon. T Borwick
Hon. Miss A Borwick

MEMBERS
The members of the company are Lord and Lady Borwick, Hon. T Borwick, Hon. Miss A Borwick and Hon. W
Borwick

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small
companies.

ON BEHALF OF THE BOARD:





Lord Borwick - Director


11 June 2019

Page 2
Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Second Poore Limited


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Second Poore Limited for the year ended 31 December 2018 which comprise the Income
Statement, Balance Sheet and the related notes from the company's accounting records and from information and
explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Second Poore Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Second Poore Limited and state those matters that we have agreed to state to the Board of Directors of Second Poore Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Second Poore Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Second Poore Limited. You consider that Second Poore Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Second Poore Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Janice Cope
Chartered Certified Accountants
104 Henniker Gate
Chelmsford
Essex
CM2 6SB


11 June 2019

This page does not form part of the statutory financial statements

Page 3
Second Poore Limited (Registered number: 00787649)

Income Statement
for the Year Ended 31 December 2018

31/12/18 31/12/17
Notes £    £    £    £   

TURNOVER - -

Administrative expenses 4,949 4,236
OPERATING DEFICIT (4,949 ) (4,236 )

Income from shares in group undertakings 80,000 3,000,000
Interest receivable and similar income - 2
80,000 3,000,002
SURPLUS BEFORE TAXATION 75,051 2,995,766

Tax on surplus - -
SURPLUS FOR THE FINANCIAL YEAR 75,051 2,995,766

The notes form part of these financial statements

Page 4
Second Poore Limited (Registered number: 00787649)

Balance Sheet
31 December 2018

31/12/18 31/12/17
Notes £    £    £    £   
FIXED ASSETS
Investments 3 200,000 200,000

CURRENT ASSETS
Cash at bank and in hand 36,378 2,755

CREDITORS
Amounts falling due within one year 4 3,030 2,958
NET CURRENT ASSETS/(LIABILITIES) 33,348 (203 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
233,348
199,797

RESERVES
Income and expenditure account 233,348 199,797
233,348 199,797

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 June 2019 and were signed on its behalf by:





Lord Borwick - Director


The notes form part of these financial statements

Page 5
Second Poore Limited (Registered number: 00787649)

Notes to the Financial Statements
for the Year Ended 31 December 2018

1. STATUTORY INFORMATION

Second Poore Limited is a private company, limited by guarantee , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Investments in subsidiaries
Fixed Asset Investments are stated at cost less provision for permanent diminution in value.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

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.

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.

3. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2018
and 31 December 2018 200,000
NET BOOK VALUE
At 31 December 2018 200,000
At 31 December 2017 200,000

The company owns 100% of the issued share capital of Federated Trust Corporation Limited, a company
registered in England and Wales and whose principal activity is the provision of management and advisory
services and making loans. In the opinion of the members, the aggregate value of the company's investment in the
subsidiary undertaking is not less than the value of the investment as shown in the balance sheet.

Page 6 continued...
Second Poore Limited (Registered number: 00787649)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2018

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/18 31/12/17
£    £   
Other creditors 3,030 2,958

5. COMPANY LIMITED BY GUARANTEE

The company has no share capital and is limited by guarantee.

The number of members that the company has is five and each member has undertaken to contribute to the assets
of the company a sum not exceeding £1 in the event of the company being wound up.

Page 7