Stortview Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04241391 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2018

for

Stortview Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S J Revell

Mrs E G Revell

SECRETARY:

Mr S J Revell

REGISTERED OFFICE:

The Old Boardroom, Collett Road

Ware

Hertfordshire

SG12 7LR

REGISTERED NUMBER:

04241391 (England and Wales)

ACCOUNTANTS:

DSCO

The Old Boardroom

Collett Road

Ware

Hertfordshire

SG12 7LR

FIXED ASSETS

Tangible assets

4

804,118

806,669

CURRENT ASSETS

Debtors

5

72,857

71,359

Cash at bank

3,195

6,985

76,052

78,344

CREDITORS

Amounts falling due within one year

6

125,357

100,300

NET CURRENT LIABILITIES

(49,305

)

(21,956

)

TOTAL ASSETS LESS CURRENT LIABILITIES

754,813

784,713

CREDITORS

Amounts falling due after more than one year

7

(351,206

)

(388,996

)

PROVISIONS FOR LIABILITIES

10

(77,225

)

(74,150

)

NET ASSETS

326,382

321,567

CAPITAL AND RESERVES

Called up share capital

11

12

12

Non-distributable reserves

12

301,899

301,899

Retained earnings

12

24,471

19,656

SHAREHOLDERS' FUNDS

326,382

321,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 19 November 2018 and were signed on its behalf by:

Mr S J Revell - Director

1.	STATUTORY INFORMATION

Stortview 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.

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

value added tax and other sales taxes.

Investment property

The Freehold Property shown in note 5 is held as an Investment Property by the company. The Financial

Reporting Standard for Smaller Entities requires that an Investment Property is shown at its open market value at

the Balance Sheet date. As such no depreciation has been charged during the year. Whilst this is a departure

from the requirements of the Companies Act 2006, it is the correct treatment not to depreciate given that the true

and fair overide takes precedence.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 September 2017

and 31 August 2018

790,000

54,931

844,931

DEPRECIATION

At 1 September 2017

-

38,262

38,262

Charge for year

-

2,551

2,551

At 31 August 2018

-

40,813

40,813

NET BOOK VALUE

At 31 August 2018

790,000

14,118

804,118

At 31 August 2017

790,000

16,669

806,669

Cost or valuation at 31 August 2018 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2004

185,000

-

185,000

Valuation in 2010

187,715

-

187,715

Cost

417,285

54,931

472,216

790,000

54,931

844,931

If Freehold Property had not been revalued it would have been included at the following historical cost:

31.8.18

31.8.17

£

£

Cost

417,285

417,285

Riverside House was valued on an open market basis on 31 March 2010 by Lloyds TSB Bank Plc .

5.

DEBTORS

31.8.18

31.8.17

£

£

Amounts falling due within one year:

Trade debtors

30,323

-

Other debtors

7,616

7,616

Directors' current accounts

1,183

525

Prepayments

1,731

1,731

40,853

9,872

31.8.18

31.8.17

£

£

Amounts falling due after more than one year:

Other debtors > 1 year

32,004

61,487

Aggregate amounts

72,857

71,359

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.18

31.8.17

£

£

Bank loans and overdrafts (see note 8)

44,333

44,333

Trade creditors

24,942

6,255

Tax

17,651

19,712

VAT

10,911

3,875

Other creditors

25,270

23,875

Accrued expenses

2,250

2,250

125,357

100,300

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.18

31.8.17

£

£

Mortgage loans (see note 8)

351,206

388,996

Amounts falling due in more than five years:

Repayable by instalments

Bank loan >5 years

95,706

133,496

8.

LOANS

An analysis of the maturity of loans is given below:

31.8.18

31.8.17

£

£

Amounts falling due within one year or on demand:

Mortgage repayment

44,333

44,333

Amounts falling due between one and two years:

Bank loan 1-2 years

54,833

54,833

Amounts falling due between two and five years:

Bank loan 2-5 years

200,667

200,667

Amounts falling due in more than five years:

Repayable by instalments

Bank loan >5 years

95,706

133,496

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.18

31.8.17

£

£

Mortgage loans

395,539

433,329

The mortgage is secured by way of a First Legal Charge and a debenture over the freehold property.

10.	PROVISIONS FOR LIABILITIES

31.8.18

31.8.17

£

£

Deferred tax

77,225

74,150

Deferred

tax

£

Balance at 1 September 2017

74,150

Accelerated capital allowance

3,075

Deferred tax movement on

freehold property

Balance at 31 August 2018

77,225

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.18

31.8.17

value:

£

£

12

Ordinary

£1

12

12

12.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

£

£

At 1 September 2017

19,656

301,899

321,555

Profit for the year

19,815

19,815

Dividends

(15,000

)

(15,000

)

At 31 August 2018

24,471

301,899

326,370

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £15,000 (2017 - £30,000) were paid to the directors .

Maleon Limited

A Company under common control.

During the year the Company charged Maleon Limited rent of £69,400 (2017:£69,400) and service charges of

£30,000 (2017:£30,000). The company also provided a rebate for service charges of £35,000 (2017:£Nil). As at

the year end, the balance owed by Maleon Limited was £30,323 (2017:£Nil).

The company also maintains an inter-company loan account with Maleon Limited. As at 31st August 2018 the

company was owed £39,621 (2017:£69,103).

Maleon Construction Project Safety Limited

A Company under common control.

The company maintains an inter-company loan account with Maleon Construction Project Safety Limited. As at

31st August 2018 the company owed £25,270 (2017:£23,875).

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S J Revell.