Perry Hill Properties Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07269233 (England and Wales)

PERRY HILL PROPERTIES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr M J Aldous

Mrs P J Aldous

REGISTERED OFFICE:

5 Cornfield Terrace

Eastbourne

East Sussex

BN21 4NN

REGISTERED NUMBER:

07269233 (England and Wales)

ACCOUNTANTS:

Breeze & Associates Ltd.

Chartered Accountants

5 Cornfield Terrace

Eastbourne

East Sussex

BN21 4NN

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a

Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Perry Hill Properties Ltd for the year ended 30 June 2018 which comprise the Income

Statement, Statement of Financial Position and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Perry Hill Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Perry Hill Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Perry Hill Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Perry Hill Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Perry Hill Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Perry Hill Properties Ltd. You consider that Perry Hill Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Perry Hill Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Breeze & Associates Ltd.

Chartered Accountants

5 Cornfield Terrace

Eastbourne

East Sussex

BN21 4NN

18 March 2019

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

225,000

225,000

225,000

225,000

CURRENT ASSETS

Debtors

6

12,068

5,065

Cash at bank and in hand

82,998

75,787

95,066

80,852

CREDITORS

Amounts falling due within one year

7

264,887

249,015

NET CURRENT LIABILITIES

(169,821

)

(168,163

)

TOTAL ASSETS LESS CURRENT LIABILITIES

55,179

56,837

PROVISIONS FOR LIABILITIES

871

1,746

NET ASSETS

54,308

55,091

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

33,921

46,071

Retained earnings

8

20,287

8,920

SHAREHOLDERS' FUNDS

54,308

55,091

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 18 March 2019 and were signed on its behalf by:

Mr M J Aldous - Director

Mrs P J Aldous - Director

1.	STATUTORY INFORMATION

Perry Hill Properties Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Computer equipment

-

33.33% on cost

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.

Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment

properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are

measured at fair value. Gains and losses arising from changes in the fair value of investment properties are

included in profit or loss in the period in which they arise.

Investment properties whose fair value cannot be measured reliably without undue cost or effort

on an on-going basis are included in plant, property and equipment at cost less accumulated depreciation and

accumulated impairment losses.

Taxation

Taxation represents the sum of the tax currently payable and deferred tax.

The company's liability to tax is calculated using the tax rates that have been enacted or substantively enacted

by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of the assets and liabilities

in the financial statements and the corresponding tax bases used in the computation of taxable profit.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period to

which the liability is settled or the asset realised, based on tax rates and laws that have been enacted or

substantively enacted by the end of the reporting period.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 July 2017

and 30 June 2018

2,182

DEPRECIATION

At 1 July 2017

and 30 June 2018

2,182

NET BOOK VALUE

At 30 June 2018

-

At 30 June 2017

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2017

225,000

Additions

13,025

Revaluations

(13,025

)

At 30 June 2018

225,000

NET BOOK VALUE

At 30 June 2018

225,000

At 30 June 2017

225,000

The investment property was valued at the year end by Mr M Aldous, a RICS registered valuer and director of

the company, on a fair value basis. Despite the improvement work undertaken during the year, it was deemed

that whilst the work is still taking place, the fair value of the property remains the same.

On a historical basis this property would have been included at the original cost of £177,183.

Deferred taxation of £871 has been provided within the accounts based on the value of the property if sold.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

10,120

5,065

Other debtors

1,948

-

12,068

5,065

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

2,849

1,859

Other creditors

262,038

247,156

264,887

249,015

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 July 2017

8,920

46,071

54,991

Deficit for the year

(783

)

(783

)

Transfer between reserves

12,150

(12,150

)

-

At 30 June 2018

20,287

33,921

54,208

9.	RELATED PARTY DISCLOSURES

During the year, the directors provided an interest bearing loan to the company. At the year end, included in

creditors, was £22,346 (2017 - £65,026) owed to the directors and a further amount of £36,134 (2017 -

£35,356) for interest owed (but not paid) on this balance.

Included in other creditors is £136,529 (2016 - £134,648) owed to Perry Hill Property Management Company

Limited, a company of which M J Aldous is also a director.