A C Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04927778 (England and Wales)

A C ESTATES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2019

Page

Company Information

1

Accountants' Report

2

Abridged Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTORS:

J R Walters

J P Walters

J M Walters

SECRETARY:

J P Walters

REGISTERED OFFICE:

4 Hunting Gate

Hitchin

Hertfordshire

SG4 0TJ

REGISTERED NUMBER:

04927778 (England and Wales)

ACCOUNTANTS:

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

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 A C Estates Ltd for the year ended 31st May 2019 which comprise the Income

Statement, Abridged Statement of Financial Position, Statement of Changes in Equity 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 A C Estates 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 A C Estates Ltd and state those matters that we have agreed to state to the Board of Directors of A C Estates 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 A C Estates Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A C Estates 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 profit of A C Estates Ltd. You consider that A C Estates 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 A C Estates 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.

Wags LLP t/a Wagstaffs

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

30th September 2019

FIXED ASSETS

Property, plant and equipment

5

1,080

1,317

Investment property

6

450,000

450,000

451,080

451,317

CURRENT ASSETS

Debtors

61,393

149,251

Cash at bank

65,776

90,083

127,169

239,334

CREDITORS

Amounts falling due within one year

(81,186

)

(125,301

)

NET CURRENT ASSETS

45,983

114,033

TOTAL ASSETS LESS CURRENT LIABILITIES

497,063

565,350

CREDITORS

Amounts falling due after more than one year

(119,409

)

(176,416

)

PROVISIONS FOR LIABILITIES

(30,004

)

(33,440

)

NET ASSETS

347,650

355,494

CAPITAL AND RESERVES

Called up share capital

7

10

10

Investment property reserve

8

199,610

199,610

Retained earnings

148,030

155,874

SHAREHOLDERS' FUNDS

347,650

355,494

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2019 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31st May 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 30th September 2019 and were signed on its behalf by:

J P Walters - Director

1.	STATUTORY INFORMATION

A C Estates 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared on a going concern basis and under the historical cost

convention.

Significant judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these

financial statements.

Revenue

Turnover represents the total invoice value, excluding value added tax, trade discounts and all other

taxes of sales made during the year.

Revenue recognition

Rental income is recognised on a straight line basis over the year in which rental relates.

Property, plant and equipment

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

estimated useful life:

Plant and machinery etc. - 18% Reducing balance method

Investment property

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

changes in fair value are recognised in the income statement and fair value reserve.

Tax

Tax 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 tax 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not

reversed at the statement of financial position 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

Rentals paid under operating leases are charged to the income statement 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

Cost

At 1st June 2018

and 31st May 2019

11,650

Depreciation

At 1st June 2018

10,333

Charge for year

237

At 31st May 2019

10,570

Net book value

At 31st May 2019

1,080

At 31st May 2018

1,317

6.	INVESTMENT PROPERTY

Total

£

Fair value

At 1st June 2018

and 31st May 2019

450,000

Net book value

At 31st May 2019

450,000

At 31st May 2018

450,000

Fair value at 31st May 2019 is represented by:

£

Valuation in 2018

239,990

Cost

210,010

450,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

6

Ordinary A

£1

6

10

4

Ordinary B

£1

4

-

10

10

During the year the company reclassified 10 ordinary £1 shares into 6 ordinary £1 A shares and 4

ordinary £1 B shares.

The ordinary A shares and the Ordinary B shares will pari passu in the capital of the company, save that

the directors may declare dividends on the two classes separately as they may from time to time so

determine.

8.

RESERVES

Investment

property

reserve

£

At 1st June 2018

and 31st May 2019

199,610