03294075falsethe letting of properties under Assured Shorthold tenancies2017-01-012017-12-31http://www.companieshouse.gov.uk/2016-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2016-12-31http://www.companieshouse.gov.uk/cd:Director12017-01-012017-12-31http://www.companieshouse.gov.uk/pt:SharePremium2016-12-31http://www.companieshouse.gov.uk/pt:ShareCapital2017-12-31http://www.companieshouse.gov.uk/cd:Director22017-01-012017-12-31http://www.companieshouse.gov.uk/pt:SharePremium2017-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12017-01-012017-12-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2017-01-012017-12-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass22017-01-012017-12-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2017-01-012017-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2017-12-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2016-12-31http://www.companieshouse.gov.uk/2017-01-012017-12-31http://www.companieshouse.gov.uk/2016-12-31http://www.companieshouse.gov.uk/cd:FRS1022017-01-012017-12-31http://www.companieshouse.gov.uk/2017-12-31http://www.companieshouse.gov.uk/cd:FullAccounts2017-01-012017-12-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2017-01-012017-12-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 03294075
Acres Hill Limited
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2017
Acres Hill Limited
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2017
DIRECTORS
Mrs C.E. Mant
Mr J.D. Mant
SECRETARY
Miss N. Claydon
REGISTERED OFFICE
The Lodge
Park Road
Shepton Mallet
Somerset
BA4 5BS
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 03294075
Acres Hill Limited
ACCOUNTS
FOR THEYEARENDED31 DECEMBER 2017
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
Acres Hill Limited
BALANCE SHEET AT 31 December 2017
20172016
Notes££
FIXED ASSETS
Tangible assets6,366,5215,865,000
CURRENT ASSETS
Debtors33,3531,622
Cash at bank and in hand125,319184,009
128,672185,631
CREDITORS: Amounts falling due within one year499,717199,755
NET CURRENT ASSETS / (LIABILITIES)28,955(14,124)
TOTAL ASSETS LESS CURRENT LIABILITIES6,395,4765,850,876
CREDITORS: Amounts falling due after more than one year53,404,8002,919,800
PROVISIONS FOR LIABILITIES AND CHARGES7370,643422,192
NET ASSETS2,620,0332,508,884
CAPITAL AND RESERVES
Called up share capital836,57036,570
Share premium account958,12558,125
Profit and loss account2,525,3382,414,189
SHAREHOLDERS' FUNDS2,620,0332,508,884
For the year ending 31 December 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 12 September 2018 and signed on their behalf by
.............................
Mrs C.E. Mant
Director
Acres Hill Limited
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2017
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Investment Properties
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.
2. INVESTMENT PROPERTIES
Investment
PropertiesTotal
££
Fair value
At 1 January 20175,865,0005,865,000
Additions501,521501,521
At 31 December 20176,366,5216,366,521
The fair value of the investment property is comprised of freehold and long leasehold investment properties in the Clifton, Redland, Cotham and Easton areas of Bristol. The directors having considered the current economic climate and its effect on property prices, have valued the property at the balance sheet date on an untenanted basis and the properties are shown at this fair value.
During the year ended 31 December 2017, the revaluation in the year of £0 (2016: £1,330,598) was credited to the profit and loss account in accordance with FRS 102.
3. DEBTORS 20172016
££
Amounts falling due within one year
Other debtors1,983686
Prepayments1,370936
3,3531,622
Acres Hill Limited
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20172016
££
UK corporation tax27,25419,954
Directors current account70798,900
Other Loans38,75057,300
Prepaid Income16,42510,525
Accruals16,58113,076
99,717199,755
5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20172016
££
Bank loans (secured) >1yr3,404,8002,919,800
3,404,8002,919,800
The bank loans of £3,404,800 are secured by fixed charges over the investment property.
6. EMPLOYEES
20172016
No.No.
During the year the average number of employees was 0 (2016 - 0).
7. PROVISIONS FOR LIABILITIES 20172016
££
Deferred taxation370,643422,192
370,643422,192
Acres Hill Limited
8. SHARE CAPITAL 20172016
££
Allotted, issued and fully paid:
32000 Ordinary shares of £1 each3200032000
4570 Class B shares of £1 each45704570
36,57036,570
New shares issued during period:
4570 Class B shares of £1 each45704570
-4,570
9. SHARE PREMIUM ACCOUNT 20172016
££
Share premium account58,12558,125
10. RELATED PARTY TRANSACTIONS
At the balance sheet date the director, Mrs C.E. Mant, was owed £707 (2016:£98,900) by the company. The loan was unsecured, interest free and there were no fixed repayment terms.
During the year the company paid a dividend of £16,000 (2016: £Nil) to Mrs C.E. Mant a director.
11. RETAINED EARNINGS BREAKDOWN
Included in retained earnings is £2,232,984 (2016 - £2,181,435) of profits which are not available for distribution as they are unrealised.