Ashcourt Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03146261 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2018

FOR

ASHCOURT PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J N Bousfield

D M Boak

K J Bousfield

A J K Bousfield

SECRETARY:

R J N Bousfield

REGISTERED OFFICE:

Ashcourt Group

Foster Street

Hull

East Yorkshire

HU8 8BT

REGISTERED NUMBER:

03146261 (England and Wales)

ACCOUNTANTS:

Lloyd Dowson Limited

Medina House

2 Station Avenue

Bridlington

East Yorkshire

YO16 4LZ

FIXED ASSETS

Tangible assets

4

1,908,320

4,614,182

Investments

5

6,270,942

6,572,041

8,179,262

11,186,223

CURRENT ASSETS

Stocks

-

3,478,207

Debtors

6

11,617,389

8,011,762

Cash at bank

13,530

18,271

11,630,919

11,508,240

CREDITORS

Amounts falling due within one year

7

2,420,647

5,452,647

NET CURRENT ASSETS

9,210,272

6,055,593

TOTAL ASSETS LESS CURRENT LIABILITIES

17,389,534

17,241,816

CREDITORS

Amounts falling due after more than one year

8

(528,170

)

(546,170

)

PROVISIONS FOR LIABILITIES

(3,509

)

(44,681

)

NET ASSETS

16,857,855

16,650,965

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

16,857,755

16,650,865

SHAREHOLDERS' FUNDS

16,857,855

16,650,965

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 30 July 2019 and were signed on its behalf by:

K J Bousfield - Director

1.	STATUTORY INFORMATION

Ashcourt 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.

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.

Turnover

Turnover represents rental income received in the year.

Tangible fixed assets

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

Freehold property

-

0% (see below)

Plant and machinery

-

15% on reducing balance

Fixtures, fittings & equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

It is the opinion of the directors that the net realisable value of freehold properties is significantly in excess of

their net book value.

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Investments

Investments are recorded at acquisition cost, with provisions made as necessary to reduce the carrying amount to

the recoverable value where necessary.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 November 2017

4,564,674

341,333

4,906,007

Additions

271,027

-

271,027

Disposals

(2,962,851

)

-

(2,962,851

)

At 31 October 2018

1,872,850

341,333

2,214,183

DEPRECIATION

At 1 November 2017

-

291,825

291,825

Charge for year

-

14,038

14,038

At 31 October 2018

-

305,863

305,863

NET BOOK VALUE

At 31 October 2018

1,872,850

35,470

1,908,320

At 31 October 2017

4,564,674

49,508

4,614,182

5.	FIXED ASSET INVESTMENTS

31.10.18

31.10.17

£

£

Loans to group undertakings

5,853,159

6,154,258

Participating interests

417,783

417,783

6,270,942

6,572,041

Additional information is as follows:

Interest

Interest

in

in other

subsidiary

participating

undertakings

interests

Totals

£

£

£

COST

At 1 November 2017

and 31 October 2018

167,733

250,050

417,783

NET BOOK VALUE

At 31 October 2018

167,733

250,050

417,783

At 31 October 2017

167,733

250,050

417,783

Loans to

group

undertakings

£

At 1 November 2017

6,154,258

Repayment in year

(301,099

)

At 31 October 2018

5,853,159

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Trade debtors

7,379

8,613

Amounts owed by group undertakings

11,135,139

4,968,245

Amounts owed by associated companies

242,197

2,865,407

Other debtors

232,674

169,497

11,617,389

8,011,762

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.10.17

£

£

Bank loans and overdrafts

189,500

189,500

Hire purchase contracts

-

6,605

Trade creditors

60,488

1,199,263

Amounts owed to group undertakings

1,438,448

1,419,553

Taxation and social security

235,419

431,776

Other creditors

496,792

2,205,950

2,420,647

5,452,647

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.18

31.10.17

£

£

Bank loans

528,170

546,170

31.10.18

31.10.17

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

456,170

474,170

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.18

31.10.17

£

£

Bank loans

717,670

735,670

Bank loans are secured by legal mortgages over specific properties being financed, and personal guarantees

given by R J N Bousfield.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.18

31.10.17

value:

£

£

100

Ordinary

£1

100

100

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.