Registration number:
ESH (Assets) Limited
for the Year Ended 30 April 2023
ESH (Assets) Limited
Contents
Statement of Financial Position |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
ESH (Assets) Limited
(Registration number: 06203586)
Statement of Financial Position as at 30 April 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Revaluation reserve |
148,001 |
148,001 |
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Profit and loss account |
272,665 |
231,832 |
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Shareholders' funds |
420,766 |
379,933 |
For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
ESH (Assets) Limited
(Registration number: 06203586)
Statement of Financial Position as at 30 April 2023 (continued)
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.
Approved and authorised by the
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ESH (Assets) Limited
Statement of Changes in Equity for the Year Ended 30 April 2023
Share capital |
Revaluation reserve |
Profit and loss account |
Total |
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At 1 May 2022 |
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Profit for the year |
- |
- |
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At 30 April 2023 |
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Share capital |
Revaluation reserve |
Profit and loss account |
Total |
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At 1 May 2021 |
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- |
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Profit for the year |
- |
- |
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Other comprehensive income |
- |
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- |
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Total comprehensive income |
- |
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Transfers |
- |
16,374 |
(16,374) |
- |
At 30 April 2022 |
100 |
148,001 |
231,832 |
379,933 |
ESH (Assets) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023
General information |
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office is:
Principal activity
The principal activity of the company is the rental of industrial units.
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are prepared in sterling which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. |
Revenue recognition
Turnover represents rental income and recharged expenses receivable, net of Value Added Tax.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
ESH (Assets) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)
2 |
Accounting policies (continued) |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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.
Investment property
The directors consider that this policy of not providing depreciation is necessary in order that the Financial Statements may give a true and fair view because current values and change in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the valuation and the amount which might otherwise have been shown cannot be identified or quantified.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Financial instruments
Recognition and measurement
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
ESH (Assets) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Freehold property |
Total |
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Cost or valuation |
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At 1 May 2022 |
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Additions |
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At 30 April 2023 |
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Depreciation |
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Carrying amount |
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At 30 April 2023 |
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At 30 April 2022 |
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The investment property held includes industrial units that are rented out commercially. There are units that are currently under construction. All units have been revalued by the directors during the year at their best estimate of current market value.
Included within the net book value of land and buildings above is £759,422 (2022 - £755,000) in respect of freehold land and buildings.
ESH (Assets) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)
Debtors |
2023 |
2022 |
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Trade debtors |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
Revaluation reserve |
Total |
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Surplus/deficit on property, plant and equipment revaluation |
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Profit and loss account:
This reserve records retained earnings and accumulated losses.
ESH (Assets) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023 (continued)
Related party transactions |
Transactions with directors |
2023 |
At 1 May 2022 |
Advances to director |
At 30 April 2023 |
Director |
( |
|
( |
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- |
- |
- |
(121,235) |
97 |
(121,138) |
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2022 |
At 1 May 2021 |
At 30 April 2022 |
Director |
( |
( |
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- |
- |
(121,235) |
(121,235) |
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No interest is charged on this loan. The loan is repayable on demand.
Summary of transactions with entities with joint control or significant interest
ESH (Assets) Ltd share shareholders and directors with R P & S Heywood (Haulage) Ltd. The amount owed by ESH (Assets) Ltd at year end was £137,445 (2022: £159,215).