IRIS Accounts Production v24.3.0.553 00588841 director 1.4.23 31.3.24 31.3.24 false true false false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure005888412023-03-31005888412024-03-31005888412023-04-012024-03-31005888412022-03-31005888412022-04-012023-03-31005888412023-03-3100588841ns15:PoundSterling2023-04-012024-03-3100588841ns11:Director12023-04-012024-03-3100588841ns11:PrivateLimitedCompanyLtd2023-04-012024-03-3100588841ns11:SmallEntities2023-04-012024-03-3100588841ns11:AuditExempt-NoAccountantsReport2023-04-012024-03-3100588841ns11:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100588841ns11:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100588841ns11:AbridgedAccounts2023-04-012024-03-310058884112023-04-012024-03-3100588841ns11:CompanySecretary12023-04-012024-03-3100588841ns11:RegisteredOffice2023-04-012024-03-3100588841ns6:CurrentFinancialInstruments2024-03-3100588841ns6:CurrentFinancialInstruments2023-03-3100588841ns6:ShareCapital2024-03-3100588841ns6:ShareCapital2023-03-3100588841ns6:RevaluationReserve2024-03-3100588841ns6:RevaluationReserve2023-03-3100588841ns6:RetainedEarningsAccumulatedLosses2024-03-3100588841ns6:RetainedEarningsAccumulatedLosses2023-03-3100588841ns6:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3100588841ns6:LeaseholdImprovements2023-04-012024-03-3100588841ns6:FurnitureFittings2023-04-012024-03-3100588841ns6:RevaluationReserve2023-03-31
REGISTERED NUMBER: 00588841















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

E & R ABBOTT LIMITED

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31st March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


E & R ABBOTT LIMITED

COMPANY INFORMATION
for the year ended 31st March 2024







DIRECTOR: J C Abbott



SECRETARY: Mrs S Roat



REGISTERED OFFICE: Priestley House
Priestley Gardens
Chadwell Heath
Essex
RM6 4SN



REGISTERED NUMBER: 00588841



ACCOUNTANTS: Chegwidden & Co
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)

ABRIDGED BALANCE SHEET
31st March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 - 288,635
Investment property 6 2,070,000 1,500,940
2,070,000 1,789,575

CURRENT ASSETS
Debtors 86,299 1,485,749
Cash at bank and in hand 794,083 584,824
880,382 2,070,573
CREDITORS
Amounts falling due within one year 73,204 1,180,782
NET CURRENT ASSETS 807,178 889,791
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,877,178

2,679,366

PROVISIONS FOR LIABILITIES 222,078 183,807
NET ASSETS 2,655,100 2,495,559

CAPITAL AND RESERVES
Called up share capital 40,000 40,000
Fair value reserve 7 1,593,822 1,311,977
Retained earnings 1,021,278 1,143,582
SHAREHOLDERS' FUNDS 2,655,100 2,495,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)

ABRIDGED BALANCE SHEET - continued
31st March 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 Balance Sheet for the year ended 31st March 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 director and authorised for issue on 12th February 2025 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 2024

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.

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 2024

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 4 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 3,261
Disposals (3,261 )
At 31st March 2024 -
AMORTISATION
At 1st April 2023 3,261
Eliminated on disposal (3,261 )
At 31st March 2024 -
NET BOOK VALUE

At 31st March 2024 -
At 31st March 2023 -

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2024

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st April 2023 500,083
Disposals (84,107 )
Reclassification/transfer (415,976 )
At 31st March 2024 -
DEPRECIATION
At 1st April 2023 211,448
Charge for year 7,526
Eliminated on disposal (51,942 )
Reclassification/transfer (167,032 )
At 31st March 2024 -
NET BOOK VALUE
At 31st March 2024 -
At 31st March 2023 288,635

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 1,500,940
Revaluations 320,116
Reclassification/transfer 248,944
At 31st March 2024 2,070,000
NET BOOK VALUE
At 31st March 2024 2,070,000
At 31st March 2023 1,500,940

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2015 752,035
Valuation in 2021 293,136
Valuation in 2024 320,116
Cost 704,713
2,070,000

E & R ABBOTT LIMITED (REGISTERED NUMBER: 00588841)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31st March 2024

6. INVESTMENT PROPERTY - continued

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

2024 2023
£    £   
Cost 704,713 519,380

The investment property was valued on an open market basis on 31st March 2024 by the director .

7. RESERVES
Fair
value
reserve
£   
At 1st April 2023 1,311,977
Unrealised profit 281,845

At 31st March 2024 1,593,822

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).

8. ULTIMATE CONTROLLING PARTY

The controlling party is J C Abbott.