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Registration number: 14079299

Ellicott Property Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Ellicott Property Investments Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Ellicott Property Investments Ltd

(Registration number: 14079299)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,600

983

Current assets

 

Stocks

5

305,635

211,027

Debtors

6

8,688

1,484

Cash at bank and in hand

 

1,048

3,029

 

315,371

215,540

Creditors: Amounts falling due within one year

7

(329,302)

(220,005)

Net current liabilities

 

(13,931)

(4,465)

Net liabilities

 

(12,331)

(3,482)

Capital and reserves

 

Called up share capital

150

150

Profit and loss account

(12,481)

(3,632)

Shareholders' deficit

 

(12,331)

(3,482)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

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 Board on 29 January 2025 and signed on its behalf by:
 


Mr J M Ellicott
Director

 

Ellicott Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of property development.

2

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.

Going concern

The financial statements have been prepared on a going concern basis as the directors and shareholders will continue to support the company until such point as the property has been sold.

 

Ellicott Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

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.

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:

Asset class

Depreciation method and rate

Computer Equipment

33% straight line

Motor Vehicles

20% reducing balance

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.

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

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ellicott Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Ellicott Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

4

Tangible assets

Computer equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

-

1,000

1,000

Additions

916

-

916

At 30 April 2024

916

1,000

1,916

Depreciation

At 1 May 2023

-

17

17

Charge for the year

102

197

299

At 30 April 2024

102

214

316

Carrying amount

At 30 April 2024

814

786

1,600

At 30 April 2023

-

983

983

5

Stocks

2024
£

2023
£

Work in progress

305,635

211,027

6

Debtors

2024
£

2023
£

Other debtors

5,845

1,484

Prepayments

2,843

-

8,688

1,484

 

Ellicott Property Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Trade creditors

9,525

1,547

Taxation and social security

1,540

310

Accruals and deferred income

2,079

1,100

Other creditors

316,158

217,048

329,302

220,005

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Related party transactions

Transactions with directors

During the year the directors entered into the following advances and credits with the company:

2024

At 1 May 2023
£

Advances/
(credits) to the directors
£

At 30 April 2024
£

Directors

(217,048)

(99,110)

(316,158)

       
     

 

2023

At 1 May 2022
£

Advances/
(credits) to the directors
£

At 30 April 2023
£

Directors

-

(217,048)

(217,048)

 

Other related party transactions


During the year the company entered into payments with Ellicott Property Services Limited of £7,809 (2023: nil) of which Mr M Ellicottt is a director.