REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Eph Investments Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 July 2023 |
for |
Eph Investments Limited |
Eph Investments Limited (Registered number: 08006116) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Eph Investments Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Leofric House |
Binley Road |
Coventry |
CV3 1JN |
Eph Investments Limited (Registered number: 08006116) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 11 |
Retained earnings | 1,335,724 | 1,221,495 |
SHAREHOLDERS' FUNDS |
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. |
Eph Investments Limited (Registered number: 08006116) |
Balance Sheet - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Eph Investments Limited (Registered number: 08006116) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Eph Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Tangible fixed assets |
Fixtures and fittings | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Taxation |
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. |
Investments |
Fixed asset investments are shown at fair value. |
Eph Investments Limited (Registered number: 08006116) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | ACCOUNTING POLICIES - continued |
Investment properties |
Investment properties, being freehold properties held to earn rental income and for capital appreciation are carried at fair value. |
Investment property disposals are recognised on completion. Profits and losses arising are recognised through the profit or loss account as determined as the difference between the sales proceeds and the carrying amount of the asset. |
Investment properties are not depreciated. |
Rental income arising from investment properties is accounted for on a straight-line basis over the lease term. |
Interest and dividend income |
Interest income is accrued on a time basis, by reference to the principal outstanding and at the effective interest rate applicable. |
Dividend income is recognised when the shareholders' rights to receive payment have been established. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
and 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Eph Investments Limited (Registered number: 08006116) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 August 2022 | 2,103,267 |
Additions | 171,581 |
Disposals | ( |
) | (159,350 | ) |
Revaluations | ( |
) | (12,243 | ) |
At 31 July 2023 | 2,103,255 |
NET BOOK VALUE |
At 31 July 2023 | 2,103,255 |
At 31 July 2022 | 2,103,267 |
Cost or valuation at 31 July 2023 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2016 | - | 197,749 | 197,749 |
Valuation in 2017 | - | 291,946 | 291,946 |
Valuation in 2018 | - | 20,600 | 20,600 |
Valuation in 2019 | - | (29,650 | ) | (29,650 | ) |
Valuation in 2020 | - | (60,823 | ) | (60,823 | ) |
Valuation in 2021 | - | 392,273 | 392,273 |
Valuation in 2022 | - | (259,098 | ) | (259,098 | ) |
Valuation in 2023 | - | (3,246 | ) | (3,246 | ) |
Cost | 511 | 1,552,993 | 1,553,504 |
511 | 2,102,744 | 2,103,255 |
If Fixed asset investments had not been revalued they would have been included at the following historical cost: |
31.7.23 | 31.7.22 |
£ | £ |
Cost | 1,552,993 | 1,549,759 |
Fixed asset investments were valued on a fair value basis on 31 July 2023 by Brooks Macdonald . |
Eph Investments Limited (Registered number: 08006116) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
Revaluations | 255,000 |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2017 | 300,544 |
Valuation in 2021 | 456,866 |
Valuation in 2023 | 255,000 |
Cost | 2,057,590 |
3,070,000 |
If Investment Property had not been revalued 2023 would have been included at the following historical cost: |
31.7.23 | 31.7.22 |
£ | £ |
Cost | 2,057,590 | 2,057,590 |
Investment properties are valued based upon mortgage valuation reports prepared by Boothroyd & Company Independant Chartered Surveyors. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
Eph Investments Limited (Registered number: 08006116) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.7.23 | 31.7.22 |
£ | £ |
Bank loans |
The bank loan is secured upon the investment property. |
11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 August 2022 |
Fair value adjustments | 96,361 |
At 31 July 2023 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Included within 'Other creditors' is a sum of £1,483,543 (2022 - £1,535,080) due to the directors in respect of loans made to the company. Interest is charged and the loans have no set terms for repayment. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is Mr and Mrs P Hazelwood. |