Company Registration No. 09116809 (England and Wales)
ASTINDALE PROJECTS LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2017
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
ASTINDALE PROJECTS LIMITED
COMPANY INFORMATION
Directors
K Harper
N A Latter
J R Stack
S J Tenzin Limited
Company number
09116809
Registered office
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
Accountants
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
ASTINDALE PROJECTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ASTINDALE PROJECTS LIMITED
Company Registration No. 09116809
BALANCE SHEET
AS AT
30 APRIL 2017
30 April 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Investments
2
50
50
Current assets
Stocks
65,989
46,356
Debtors
3
643
2,047
Cash at bank and in hand
2,499
2,611
69,131
51,014
Creditors: amounts falling due within one year
4
(80,415)
(57,946)
Net current liabilities
(11,284)
(6,932)
Total assets less current liabilities
(11,234)
(6,882)
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(11,334)
(6,982)
Total equity
(11,234)
(6,882)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 30 January 2018 and are signed on its behalf by:
K Harper
Director
ASTINDALE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017
- 2 -
1
Accounting policies
Company information
Astindale Projects Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Old Rectory, Church Street, Weybridge, Surrey, KT13 8DE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date the company had net liabilities of £11,234. Included within creditors are amounts due to connected company of £70,456. The director has confirmed that these loans would not be recalled to the detriment of the company and therefore the accounts have been prepared on the going concern.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities
.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
ASTINDALE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
1
Accounting policies
(Continued)
- 3 -
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Fixed asset investments
2017
2016
£
£
Investments
50
50
3
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
643
2,047
4
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
8,659
7,940
Other creditors
71,756
50,006
80,415
57,946
5
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
50 Ordinary A shares of £1 each
50
50
50 Ordinary B shares of £1 each
50
50
100
100
6
Related party transactions
ASTINDALE PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
6
Related party transactions
(Continued)
- 4 -
At the balance sheet date the company owed £70,456 (2016 - £48,806
) to
S J Tenzin Limited
, one of the controlling parties.
At the balance sheet date the company was owed by
S & L Ventures
Limited
£50 (2016 - £50
), a connected company.