Entwisle's Properties Ltd
Registered number: 04989509
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Intangible assets 3 37,500 47,500
Tangible assets 4 697 932
38,197 48,432
Current assets
Stocks - 1,500
Debtors 5 200,878 237,118
Cash at bank and in hand 5,527 43,061
206,405 281,679
Creditors: amounts falling due within one year 6 (14,203) (6,182)
Net current assets 192,202 275,497
Net assets 230,399 323,929
Capital and reserves
Called up share capital 60 100
Share premium (85,440) -
Profit and loss account 315,779 323,829
Shareholders' funds 230,399 323,929
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.
C Johansson
Director
Approved by the board on 29 April 2022
Entwisle's Properties Ltd
Notes to the Accounts
for the year ended 31 December 2021
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.
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. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2021 2020
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2021 100,000
At 31 December 2021 100,000
Amortisation
At 1 January 2021 52,500
Provided during the year 10,000
At 31 December 2021 62,500
Net book value
At 31 December 2021 37,500
At 31 December 2020 47,500
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2021 3,000 7,000 10,000
At 31 December 2021 3,000 7,000 10,000
Depreciation
At 1 January 2021 2,834 6,234 9,068
Charge for the year 43 192 235
At 31 December 2021 2,877 6,426 9,303
Net book value
At 31 December 2021 123 574 697
At 31 December 2020 166 766 932
5 Debtors 2021 2020
£ £
Trade debtors 16,500 -
Other debtors 152,580 162,580
Intercompany Loan 31,798 74,538
200,878 237,118
6 Creditors: amounts falling due within one year 2021 2020
£ £
Trade creditors 975 -
Accruals 12,885 6,182
Other taxes and social security costs 343 -
14,203 6,182
7 Other information
Entwisle's Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Aberdeen Cottage
Tongues Lane
Preesall
FY6 OHL
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