Registered number
05742565
Eckersley White Estate Agency Ltd
Unaudited Filleted Accounts
31 December 2023
Eckersley White Estate Agency Ltd
Report and accounts
Contents
Page
Company information 1
Director's report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Eckersley White Estate Agency Ltd
Company Information
Director
Mr C Drake
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Registered office
Unit 4, Park Ironworks
Forge Road
Kingsley
Bordon
Registered number
05742565
Eckersley White Estate Agency Ltd
Registered number: 05742565
Director's Report
The director presents his report and accounts for the year ended 31 December 2023.
Principal activities
The company's principal activity during the year continued to be that of the operation of an estate agency.
Directors
The following persons served as directors during the year:
Mr C Drake
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 24 August 2024 and signed on its behalf.
Mr C Drake
Director
Eckersley White Estate Agency Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Eckersley White Estate Agency Ltd for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Eckersley White Estate Agency Ltd for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
2 September 2024
Eckersley White Estate Agency Ltd
Registered number: 05742565
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
As restated
Fixed assets
Tangible assets 4 - 1,299
Current assets
Stocks - 250
Debtors 5 341,998 367,451
Cash at bank and in hand 7,847 8,133
349,845 375,834
Creditors: amounts falling due within one year 6 (274,626) (205,731)
Net current assets 75,219 170,103
Total assets less current liabilities 75,219 171,402
Creditors: amounts falling due after more than one year 7 (27,855) (33,433)
Net assets 47,364 137,969
Capital and reserves
Called up share capital 2 2
Profit and loss account 47,362 137,967
Shareholders' funds 47,364 137,969
The director is 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 director acknowledges his 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.
Mr C Drake
Director
Approved by the board on 24 August 2024
Eckersley White Estate Agency Ltd
Notes to the Accounts
for the year ended 31 December 2023
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 (as applied to small entities by section 1A of the standard).
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:
Fixtures, fittings, tools and equipment 25% reducing balance
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 73,600
At 31 December 2023 73,600
Amortisation
At 1 January 2023 73,600
At 31 December 2023 73,600
Net book value
At 31 December 2023 -
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
£
Cost
At 1 January 2023 17,620
At 31 December 2023 17,620
Depreciation
At 1 January 2023 16,321
Charge for the year 1,299
At 31 December 2023 17,620
Net book value
At 31 December 2023 -
At 31 December 2022 1,299
5 Debtors 2023 2022
£ £
Trade debtors 3,360 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 304,546 303,527
Other debtors 34,092 63,924
341,998 367,451
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,308 5,038
Trade creditors 6,726 4,627
Amounts owed to group undertakings and undertakings in which the company has a participating interest 201,232 141,198
Taxation and social security costs 9,385 42,492
Other creditors 51,975 12,376
274,626 205,731
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 27,855 33,433
8 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 6,623 11,931
9 Prior year adjustment
The prior year figures have been amended to include an overdrawn director's loan balance at 31 December 2022, this was cleared in March 2023.
10 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr C Drake
DCA 14,150 150,958 (205,027) (39,919)
14,150 150,958 (205,027) (39,919)
11 Other information
Eckersley White Estate Agency Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4, Park Ironworks
Forge Road
Kingsley
Bordon
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