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REGISTERED NUMBER: 00588841















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

E & R ABBOTT LIMITED

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31st March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


E & R ABBOTT LIMITED

COMPANY INFORMATION
for the year ended 31st March 2023







DIRECTOR: J C Abbott



SECRETARY: Mrs S Roat



REGISTERED OFFICE: 134 George Lane
South Woodford
London
E18 1BA



REGISTERED NUMBER: 00588841



AUDITORS: Chegwidden & Co
Statutory Auditors
Chartered Accountants
Priestley House
Priestley Gardens
Chadwell Heath
Essex, RM6 4SN



BANKERS: National Westminster Bank plc
110 George Lane
South Woodford
London
E18

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)

BALANCE SHEET
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 288,635 306,828
Investment property 6 1,500,940 1,500,940
1,789,575 1,807,768

CURRENT ASSETS
Debtors 7 1,485,749 1,672,247
Cash at bank and in hand 584,824 400,746
2,070,573 2,072,993
CREDITORS
Amounts falling due within one year 8 1,180,782 1,439,748
NET CURRENT ASSETS 889,791 633,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,679,366

2,441,013

PROVISIONS FOR LIABILITIES 183,807 184,527
NET ASSETS 2,495,559 2,256,486

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Fair value reserve 10 1,311,977 1,311,977
Retained earnings 1,143,582 904,509
SHAREHOLDERS' FUNDS 2,495,559 2,256,486

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 director and authorised for issue on 15th September 2023 and were signed by:





J C Abbott - Director


E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31st March 2023

1. STATUTORY INFORMATION

E & R Abbott Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents the fair value of commissions receivable, excluding value added tax, once the income and related costs incurred can be reliably measured, and it is probable that the economic benefits will flow to the company.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1981, was amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 25% on reducing balance and 10% on reducing balance

Investment property
Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in the fair value is recognised in the Income Statement. Deferred tax is provided on the fair value of the gain at the rate expected to apply.

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.

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2022
and 31st March 2023 3,261
AMORTISATION
At 1st April 2022
and 31st March 2023 3,261
NET BOOK VALUE
At 31st March 2023 -
At 31st March 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings Totals
£    £    £    £   
COST OR VALUATION
At 1st April 2022
and 31st March 2023 348,356 67,620 84,107 500,083
DEPRECIATION
At 1st April 2022 93,204 53,883 46,168 193,255
Charge for year 8,970 5,431 3,792 18,193
At 31st March 2023 102,174 59,314 49,960 211,448
NET BOOK VALUE
At 31st March 2023 246,182 8,306 34,147 288,635
At 31st March 2022 255,152 13,737 37,939 306,828

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2023

5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31st March 2023 is represented by:

Improvements Fixtures
Freehold to and
property property fittings Totals
£    £    £    £   
Valuation in 2021 53,274 10,337 - 63,611
Cost 295,082 57,283 84,107 436,472
348,356 67,620 84,107 500,083

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022
and 31st March 2023 1,500,940
NET BOOK VALUE
At 31st March 2023 1,500,940
At 31st March 2022 1,500,940

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2015 752,035
Valuation in 2021 229,525
Cost 519,380
1,500,940

If the investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 519,380 519,380

The investment property was valued on an open market basis on 31st March 2021 by the director .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,485,749 1,672,123
Other debtors - 124
1,485,749 1,672,247

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 999,190 1,297,427
Taxation and social security 97,872 74,130
Other creditors 83,720 68,191
1,180,782 1,439,748

9. SECURED DEBTS

A legal charge and a debenture held by the bank and secured against the company's freehold property and assets of the Company, was satisfied after the year end 31 March 2023.

10. RESERVES
Fair
value
reserve
£   
At 1st April 2022
and 31st March 2023 1,311,977

The fair value reserve represents a non-distributable reserve arising from the net fair gains on the revaluation of freehold property, improvements to property and investment properties, as per FRS 102 Section 1A (Small Companies).

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

P G Harris FCCA, ACA (Senior Statutory Auditor)
for and on behalf of Chegwidden & Co

12. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

13. ULTIMATE CONTROLLING PARTY

The controlling party is J C Abbott.