Etonbrook Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01956881 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

ETONBROOK LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Wantling

Mrs C. J. Wantling

A J Wantling

L S Wantling

SECRETARY:

S P Wantling

REGISTERED OFFICE:

DRE & Co

6 Claremont Buildings

Claremont Bank

Shrewsbury

Shropshire

SY1 1RJ

REGISTERED NUMBER:

01956881 (England and Wales)

ACCOUNTANTS:

D.R.E. & Co.

Chartered Accountants

6 Claremont Buildings

Claremont Bank

Shrewsbury

Shropshire

SY1 1RJ

FIXED ASSETS

Tangible assets

5

15,226

14,958

Investments

6

756,055

756,055

Investment property

7

13,817,683

6,086,858

14,588,964

6,857,871

CURRENT ASSETS

Stocks

8

436,995

436,995

Debtors

9

1,407,574

741,547

Cash in hand

222,355

2,578,435

2,066,924

3,756,977

CREDITORS

Amounts falling due within one year

10

441,170

338,371

NET CURRENT ASSETS

1,625,754

3,418,606

TOTAL ASSETS LESS CURRENT LIABILITIES

16,214,718

10,276,477

CREDITORS

Amounts falling due after more than one year

11

(14,887,892

)

(9,239,236

)

PROVISIONS FOR LIABILITIES

(22,752

)

(13,057

)

NET ASSETS

1,304,074

1,024,184

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,304,072

1,024,182

SHAREHOLDERS' FUNDS

1,304,074

1,024,184

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 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 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2021 and were signed on its behalf by:

S P Wantling - Director

1.	STATUTORY INFORMATION

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are for the individual entity only.

The financial statements are presented in sterling (£), rounded to the nearest £1.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Investment property

Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised through the income statement.

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards or control of the ownership of the asset are transferred to another party.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Fixed asset investments

Listed investments are included at fair value. Changes in fair value are recognised in the income statement. The fair value is based on the mid-market value at the balance sheet date, as given in the portfolio valuation provided by Rathbones Investment Management Limited, which is based on Stock Exchange values. Provision is made for impairment of listed investments where there is considered to be a permanent diminution in value Investments are listed on either the UK stock exchange, AIM or non-UK stock exchanges.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2020

1,373

54,676

44,873

5,656

106,578

Additions

10,000

-

-

-

10,000

Disposals

-

-

(16,502

)

-

(16,502

)

At 31 March 2021

11,373

54,676

28,371

5,656

100,076

DEPRECIATION

At 1 April 2020

617

54,676

31,378

4,949

91,620

Charge for year

2,162

-

771

707

3,640

Eliminated on disposal

-

-

(10,410

)

-

(10,410

)

At 31 March 2021

2,779

54,676

21,739

5,656

84,850

NET BOOK VALUE

At 31 March 2021

8,594

-

6,632

-

15,226

At 31 March 2020

756

-

13,495

707

14,958

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2020

and 31 March 2021

756,055

NET BOOK VALUE

At 31 March 2021

756,055

At 31 March 2020

756,055

Cost or valuation at 31 March 2021 is represented by:

Other

investments

£

Valuation in 2017

96,193

Valuation in 2018

(49,273

)

Valuation in 2019

(46,920

)

Cost

756,055

756,055

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2020

6,086,858

Additions

7,952,825

Disposals

(222,000

)

At 31 March 2021

13,817,683

NET BOOK VALUE

At 31 March 2021

13,817,683

At 31 March 2020

6,086,858

The property was valued on an fair value basis on 31 March 2016 by the directors.

8.

STOCKS

31.3.21

31.3.20

£

£

Stocks

380,870

380,870

Work-in-progress

56,125

56,125

436,995

436,995

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Trade debtors

49,909

21,175

Amounts owed by related companies

378,479

-

Other debtors

968,937

711,131

Prepayments

10,249

9,241

1,407,574

741,547

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

31.3.20

£

£

Other loans

168,305

-

Amounts owed to related companies

25,000

25,000

Tax

68,895

66,256

Social security and other taxes

2,054

2,407

VAT

71,947

88,093

Other creditors

23,705

70,067

Directors' current accounts

64,300

64,300

Accruals and deferred income

16,964

22,248

441,170

338,371

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

31.3.20

£

£

Other loans - 1-2 years

164,000

-

Other loans - 2-5 years

492,000

-

Directors Loan Account

14,231,892

9,239,236

14,887,892

9,239,236

The directors' loan accounts are interest free and repayable at the company's discretion.

12.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.21

31.3.20

£

£

Other loans

824,305

-

The other loan is secured against the property to which it relates

13.	RELATED PARTY DISCLOSURES

The company received rent of £25,711 (2020: £25,705) from MVH Limited, a company in which S.P.Wantling is a director and shareholder. The balance due from MVH Limited at the balance sheet date in respect of these transactions was £nil (2020: £nil).

14.	CONTROLLING PARTY

The overall controlling party is Catherine Wantling by vitue of her shareholding of 52% ordinary shares.