IRIS Accounts Production v24.2.0.383 00341171 Board of Directors Board of Directors 20.1.23 19.1.24 19.1.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003411712023-01-19003411712024-01-19003411712023-01-202024-01-19003411712022-01-19003411712022-01-202023-01-19003411712023-01-1900341171ns15:EnglandWales2023-01-202024-01-1900341171ns14:PoundSterling2023-01-202024-01-1900341171ns10:Director12023-01-202024-01-1900341171ns10:Director22023-01-202024-01-1900341171ns10:PrivateLimitedCompanyLtd2023-01-202024-01-1900341171ns10:SmallEntities2023-01-202024-01-1900341171ns10:AuditExempt-NoAccountantsReport2023-01-202024-01-1900341171ns10:SmallCompaniesRegimeForDirectorsReport2023-01-202024-01-1900341171ns10:SmallCompaniesRegimeForAccounts2023-01-202024-01-1900341171ns10:AbridgedAccounts2023-01-202024-01-1900341171ns10:CompanySecretary12023-01-202024-01-1900341171ns10:RegisteredOffice2023-01-202024-01-1900341171ns5:CurrentFinancialInstruments2024-01-1900341171ns5:CurrentFinancialInstruments2023-01-1900341171ns5:ShareCapital2024-01-1900341171ns5:ShareCapital2023-01-1900341171ns5:RevaluationReserve2024-01-1900341171ns5:RevaluationReserve2023-01-1900341171ns5:FurtherSpecificReserve1ComponentTotalEquity2024-01-1900341171ns5:FurtherSpecificReserve1ComponentTotalEquity2023-01-1900341171ns5:RetainedEarningsAccumulatedLosses2024-01-1900341171ns5:RetainedEarningsAccumulatedLosses2023-01-1900341171ns5:RevaluationReserve2023-01-19
REGISTERED NUMBER: 00341171 (England and Wales)















Unaudited Financial Statements for the Year Ended 19 January 2024

for

Ernest Ireland Properties (South West)
Limited

Ernest Ireland Properties (South West)
Limited (Registered number: 00341171)






Contents of the Financial Statements
for the Year Ended 19 January 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Ernest Ireland Properties (South West)
Limited

Company Information
for the Year Ended 19 January 2024







DIRECTORS: S M French
T G French





SECRETARY: S M French





REGISTERED OFFICE: 5 Trevone Crescent
St Austell
Cornwall
PL25 5EB





REGISTERED NUMBER: 00341171 (England and Wales)

Ernest Ireland Properties (South West)
Limited (Registered number: 00341171)

Abridged Statement of Financial Position
19 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 300,000 300,000

CURRENT ASSETS
Debtors 12,808 11,561
Cash at bank 2,766 2,910
15,574 14,471
CREDITORS
Amounts falling due within one year 14,186 12,195
NET CURRENT ASSETS 1,388 2,276
TOTAL ASSETS LESS CURRENT
LIABILITIES

301,388

302,276

CAPITAL AND RESERVES
Called up share capital 18,000 18,000
Revaluation reserve 5 160,424 208,001
Other reserves 1,190 1,190
Retained earnings 121,774 75,085
SHAREHOLDERS' FUNDS 301,388 302,276

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 19 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 19 January 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Ernest Ireland Properties (South West)
Limited (Registered number: 00341171)

Abridged Statement of Financial Position - continued
19 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 19 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:




S M French - Director



T G French - Director


Ernest Ireland Properties (South West)
Limited (Registered number: 00341171)

Notes to the Financial Statements
for the Year Ended 19 January 2024

1. STATUTORY INFORMATION

Ernest Ireland Properties (South West) Limited is a private company, limited by shares , registered in England and Wales. 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.

Investment property
Investment property is shown at most recent directors valuation. The valuation is determined by reference to rental yield and market conditions subsiding at the time and is reviewed annually. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit and loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Income from investment property
Income from investment property represents rents receivable in respect of those properties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Ernest Ireland Properties (South West)
Limited (Registered number: 00341171)

Notes to the Financial Statements - continued
for the Year Ended 19 January 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 20 January 2023
and 19 January 2024 300,000
NET BOOK VALUE
At 19 January 2024 300,000
At 19 January 2023 300,000

Fair value at 19 January 2024 is represented by:
£   
Valuation in 2024 160,424
Cost 139,576
300,000

5. RESERVES
Revaluation
reserve
£   
At 20 January 2023 208,001
Movement in fair value (47,577 )

At 19 January 2024 160,424