Estates 17 Limited 28/02/2022 iXBRL

Estates 17 Limited 28/02/2022 iXBRL

ESTATES 17 LIMITED - Company Information

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20 28/02/2022 2022-02-28 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2021-03-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07242241 2021-03-01 2022-02-28 07242241 2022-02-28 07242241 2021-02-28 07242241 2020-03-01 2021-02-28 07242241 2021-02-28 07242241 core:FurnitureFittingsToolsEquipment 2021-03-01 2022-02-28 07242241 bus:RegisteredOffice 2021-03-01 2022-02-28 07242241 bus:LeadAgentIfApplicable 2021-03-01 2022-02-28 07242241 bus:Director1 2021-03-01 2022-02-28 07242241 core:LandBuildings core:ShortLeaseholdAssets 2021-02-28 07242241 core:FurnitureFittingsToolsEquipment 2021-02-28 07242241 core:LandBuildings core:ShortLeaseholdAssets 2022-02-28 07242241 core:FurnitureFittingsToolsEquipment 2022-02-28 07242241 core:WithinOneYear 2022-02-28 07242241 core:WithinOneYear 2021-02-28 07242241 core:LandBuildings core:ShortLeaseholdAssets 2021-03-01 2022-02-28 07242241 core:ShareCapital 2022-02-28 07242241 core:ShareCapital 2021-02-28 07242241 core:RetainedEarningsAccumulatedLosses 2022-02-28 07242241 core:RetainedEarningsAccumulatedLosses 2021-02-28 07242241 core:LandBuildings core:ShortLeaseholdAssets 2021-02-28 07242241 core:FurnitureFittingsToolsEquipment 2021-02-28 07242241 bus:Director1 2021-02-28 07242241 bus:Director1 2022-02-28 07242241 bus:Director1 2020-02-29 07242241 bus:Director1 2021-02-28 07242241 bus:Director1 2020-03-01 2021-02-28 07242241 bus:SmallEntities 2021-03-01 2022-02-28 07242241 bus:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 07242241 bus:FullAccounts 2021-03-01 2022-02-28 07242241 bus:SmallCompaniesRegimeForAccounts 2021-03-01 2022-02-28 07242241 bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 07242241 1 2021-03-01 2022-02-28
Company registration number: 07242241
Estates 17 Limited
Unaudited filleted financial statements
28 February 2022
Estates 17 Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Estates 17 Limited
Directors and other information
Directors Mr Neil Collins
Company number 07242241
Registered office 40 Orford Road
London
E17 9NJ
Business address 40 Orford Road
Walthamstow
London
E17 9NJ
Accountants Hill Allen (Wickford) Limited
Office 1 Riverside Court
24 Lower Southend Road
Wickford
SS11 8AW
Bankers Lloyds Bank plc
1 Legg Street
Chelmsford
CM1 1JS
Estates 17 Limited
Statement of financial position
28 February 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 47,807 29,814
_______ _______
47,807 29,814
Current assets
Debtors 6 250,374 237,535
Cash at bank and in hand 254,270 669,010
_______ _______
504,644 906,545
Creditors: amounts falling due
within one year 7 ( 112,315) ( 426,889)
_______ _______
Net current assets 392,329 479,656
_______ _______
Total assets less current liabilities 440,136 509,470
_______ _______
Net assets 440,136 509,470
_______ _______
Capital and reserves
Called up share capital 202 202
Profit and loss account 439,934 509,268
_______ _______
Shareholders funds 440,136 509,470
_______ _______
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 November 2022 , and are signed on behalf of the board by:
Mr Neil Collins
Director
Company registration number: 07242241
Estates 17 Limited
Notes to the financial statements
Year ended 28 February 2022
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 40 Orford Road, London, E17 9NJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland.The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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 measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - Over period of lease
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Government grants
Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 20 (2021: 14 ).
5. Tangible assets
Short leasehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 March 2021 35,316 82,329 117,645
Additions - 31,980 31,980
Disposals - ( 58,876) ( 58,876)
_______ _______ _______
At 28 February 2022 35,316 55,433 90,749
_______ _______ _______
Depreciation
At 1 March 2021 14,706 73,124 87,830
Charge for the year 2,770 11,218 13,988
Disposals - ( 58,876) ( 58,876)
_______ _______ _______
At 28 February 2022 17,476 25,466 42,942
_______ _______ _______
Carrying amount
At 28 February 2022 17,840 29,967 47,807
_______ _______ _______
At 28 February 2021 20,610 9,205 29,815
_______ _______ _______
6. Debtors
2022 2021
£ £
Trade debtors 54,203 137,971
Other debtors 196,171 99,564
_______ _______
250,374 237,535
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 59,514 138,494
Corporation tax - 70,283
Social security and other taxes 46,838 207,336
Other creditors 5,963 10,776
_______ _______
112,315 426,889
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Neil Collins 91,411 28,441 - 119,852
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Neil Collins 94,292 137,119 ( 140,000) 91,411
_______ _______ _______ _______
9. Controlling party
The company is controlled by the director N Collins .