A.T. Bent (Properties) Limited - Accounts to registrar (filleted) - small 18.2

A.T.BENT(PROPERTIES)LIMITED - Company Information

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REGISTERED NUMBER: 00663752 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

A.T. Bent (Properties) Limited

Page

Company Information

Balance Sheet

Notes to the Financial Statements

DIRECTORS:

W T C Bent

H J Alston

M J Deveson

SECRETARY:

M J Deveson

REGISTERED OFFICE:

Home Lodge

Northgate

BECCLES

Suffolk

NR34 9AS

REGISTERED NUMBER:

00663752 (England and Wales)

ACCOUNTANTS:

Argents Chartered Accountants

15 Palace Street

NORWICH

Norfolk

NR3 1RT

FIXED ASSETS

Tangible assets

25,162

24,988

Investments

Investment property

6,411,161

5,935,791

6,436,325

5,960,781

CURRENT ASSETS

Debtors

750,657

814,853

Cash at bank

47,296

266,905

797,953

1,081,758

CREDITORS

Amounts falling due within one year

151,570

107,131

NET CURRENT ASSETS

646,383

974,627

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,082,708

6,935,408

PROVISIONS FOR LIABILITIES

749,583

NET ASSETS

6,333,125

6,185,825

CAPITAL AND RESERVES

Called up share capital

300

Investment property

revaluation reserve

3,902,062

Retained earnings

2,430,763

2,283,463

SHAREHOLDERS' FUNDS

6,333,125

6,185,825

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 25 June 2019 and were signed on its behalf by:

W T C Bent - Director

1.	STATUTORY INFORMATION

A.T. Bent (Properties) 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 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 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.

First year adoption

These accounts are the first set to be prepared by the company under FRS 102. On transition a review has been

carried out of the previously recognised amounts to identify any that would need to be restated under the new

standards, but no adjustments were required.

Preparation of consolidated financial statements

The financial statements contain information about A.T. Bent (Properties) Limited as an individual company and

do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover represents amounts receivable from rent plus charges for property management.

Tangible fixed assets

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

Fixtures and fittings

25% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

33% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

COST

At 1 October 2017

37,713

39,744

20,245

97,702

Additions

2,375

5,104

7,479

At 30 September 2018

40,088

39,744

25,349

105,181

DEPRECIATION

At 1 October 2017

24,059

28,966

19,689

72,714

Charge for year

3,080

2,695

1,530

7,305

At 30 September 2018

27,139

31,661

21,219

80,019

NET BOOK VALUE

At 30 September 2018

12,949

8,083

4,130

25,162

At 30 September 2017

13,654

10,778

556

24,988

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

COST

At 1 October 2017

and 30 September 2018

NET BOOK VALUE

At 30 September 2018

At 30 September 2017

6.	INVESTMENT PROPERTY

Total

FAIR VALUE

At 1 October 2017

5,935,791

Additions

475,370

At 30 September 2018

6,411,161

NET BOOK VALUE

At 30 September 2018

6,411,161

At 30 September 2017

5,935,791

The 2017 valuations were made by the directors, on an open market value for existing use basis.

The historic cost of the investment properties is £1,173,429.

DEBTORS

2018

2017

Amounts falling due within one year:

Trade debtors

2,320

4,400

Directors' loan accounts

38,875

124,343

41,195

128,743

Amounts falling due after more than one year:

Amounts due from group

undertaking

709,462

686,110

709,462

686,110

Aggregate amounts

750,657

814,853

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

Trade creditors

70,596

61,890

Tax

78,016

41,667

Social security and other taxes

2,958

3,574

151,570

107,131

RESERVES

Investment

property

Retained

revaluation

earnings

reserve

Totals

At 1 October 2017

2,283,463

3,902,062

6,185,525

Profit for the year

147,300

At 30 September 2018

2,430,763

3,902,062

6,332,825

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2018 and

30 September 2017:

2018

2017

W T C Bent

Balance outstanding at start of year

124,343

70,979

Amounts advanced

382,250

303,688

Amounts repaid

(467,718

)

(250,324

)

Amounts written off

Amounts waived

Balance outstanding at end of year

38,875

124,343

This loan to Mr WTC Bent , director, is interest free and repayable on demand.

11.	RELATED PARTY TRANSACTIONS

Galleon Storage & Mooring Ltd

Subsidiary

At the end of the year a loan was owing from the subsiduary of £709,462. This loan is interest free and it is

repayable on demand.

The company rents various properties from Mr Bent which in turn are sub-let. The rent payable to Mr Bent in

respect of the head-lease is £13,000 (2017 - £13,000).

Mr WTC Bent paid the company a management charge of £20,000 (2017 - £20,000) to reflect the administration

and management of his private property portfolio during the year.