The Aardent Group Limited - Accounts to registrar

REGISTERED NUMBER: 05458727 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

THE AARDENT GROUP LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

L A Nye

Registered office:

Lantrade House

Oxford Rd

Gerrards Cross

Buckinghamshire

SL9 7BB

Registered number:

05458727 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Sterling House

19/23 High Street

Kidlington

Oxfordshire

OX5 2DH

Fixed assets

Tangible assets

4

211

281

Investments

5

850,000

Investment property

6

247,000

225,000

1,097,211

1,075,281

Current assets

Debtors

7

48,008

476,811

Cash at bank

21,251

1,800

69,259

478,611

Creditors

Amounts falling due within one year

8

1,629,484

1,923,632

Net current liabilities

(1,560,225

)

(1,445,021

)

Total assets less current liabilities

(463,014

)

(369,740

)

Provisions for liabilities

56,728

Net liabilities

(519,742

)

(426,468

)

Capital and reserves

Called up share capital

10

2

Fair value reserve

11

(13,630

)

(13,630

)

Retained earnings

11

(506,114

)

(412,840

)

Shareholders' funds

(519,742

)

(426,468

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 3 November 2017 and were signed by:

L A Nye - Director

1.	Statutory information

The Aardent Group 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.

The financial statements are presented in Sterling, which is the functional currency of the company, rounded to the nearest

£1.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value

is recognised in profit or 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 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.

Going concern

The director has made an assessment of the company's ability to continue as a going concern and has identified no material

uncertainties that may cast a significant doubt on the ability of the company to continue as a going concern for the

foreseeable future.

3.	Employees and directors

The average number of employees during the year was 1 (2016 - 1 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 June 2016

and 31 May 2017

4,995

Depreciation

At 1 June 2016

4,714

Charge for year

70

At 31 May 2017

4,784

Net book value

At 31 May 2017

211

At 31 May 2016

281

5.	Fixed asset investments

Other

investments

£

Cost

At 1 June 2016

and 31 May 2017

1,475,956

Provisions

At 1 June 2016

and 31 May 2017

625,956

Net book value

At 31 May 2017

850,000

At 31 May 2016

850,000

6.	Investment property

Total

£

Fair value

At 1 June 2016

225,000

Additions

22,000

At 31 May 2017

247,000

Net book value

At 31 May 2017

247,000

At 31 May 2016

225,000

Investment properties were revalued by the director at 31 May 2017 on an open market basis. The original cost of the

properties was £260,630 (2016 - £238,630.)

Cost or valuation at 31 May 2017 is represented by:

£

Valuation in 2011

6,370

Valuation in 2016

(20,000

)

Cost

260,630

247,000

7.

Debtors: amounts falling due within one year

31/5/17

31/5/16

£

Amounts owed by group undertakings

-

93,289

Other debtors

48,008

383,522

48,008

476,811

8.

Creditors: amounts falling due within one year

31/5/17

31/5/16

£

Bank loans and overdrafts

158,994

320,604

Trade creditors

1,024

583

Amounts owed to group undertakings

890,012

1,034,160

Taxation and social security

20,217

Other creditors

559,237

548,068

1,629,484

1,923,632

9.	Secured debts

The following secured debts are included within creditors:

31/5/17

31/5/16

£

Bank loans

158,994

320,604

The mortgages are secured on the properties to which they relate.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/5/17

31/5/16

value:

£

2

Ordinary

£1

2

11.

Reserves

Retained

Fair value

earnings

reserve

Totals

£

At 1 June 2016

(412,840

)

(13,630

)

(426,470

)

Deficit for the year

(93,274

)

(93,274

)

At 31 May 2017

(506,114

)

(13,630

)

(519,744

)

12.	Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 May 2017 and 31 May 2016:

31/5/17

31/5/16

£

L A Nye

Balance outstanding at start of year

78,681

-

Amounts advanced

32,448

95,000

Amounts repaid

(88,112

)

(16,319

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

23,017

78,681

13.	Subordinated loans

The debt due to L.G.S. (International) Limited has been subordinated in terms of the debt due to the company director, L A

Nye, by way of a deed of subordination dated 4 February 2014.

14.	Debentures

The company has granted a fixed and floating charge over all the assets of the company by way of a debenture deed dated

13 January 2014 in favour of L A Nye, the company director, and L.G.S. (International) Limited, dated 15 January 2014.