Achilles Products Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06002763 (England and Wales)

ACHILLES PRODUCTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Drury

REGISTERED OFFICE:

1 St Pauls Square

Birmingham

West Midlands

B3 1QU

REGISTERED NUMBER:

06002763 (England and Wales)

BANKERS:

Lloyds TSB Bank Plc

City Office Corporate & Institutional

P O Box 72

Bailey Drive

Gillingham Business Park

Kent

ME8 0LS

CURRENT ASSETS

Debtors

5

80,206

230,016

Cash at bank and in hand

26,654

193,878

106,860

423,894

CREDITORS

Amounts falling due within one year

6

54,055

359,051

NET CURRENT ASSETS

52,805

64,843

TOTAL ASSETS LESS CURRENT LIABILITIES

52,805

64,843

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

52,803

64,841

SHAREHOLDERS' FUNDS

52,805

64,843

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 19th December 2019 and were signed by:

S Drury - Director

1.	STATUTORY INFORMATION

Achilles Products 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 (£).

The financial statements have been rounded to the nearest £.

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 have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and have been

rounded to the nearest pound.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover represents the sale

of investment bonds and commission due to the company.

(1) Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods

has transferred to the buyer. This is on the completion bond transfer agreement.

(2) Commission received

Commissions received from introductory services are recognised when the buyer has legally accepted the

significant risks and rewards of ownership of policies/ investments.

(3) Services

Turnover from the provision of services is accrued over the accounting period and invoiced annually.

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 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.

Cash and cash equivalents

Cash and cash equivalents includes deposits held at call at banks.

Debtors

Short term debtors are measured at transaction price.

Creditors

Short term creditors are measured at transaction price.

Financial instruments

Basic financial liabilities, including trade and other payables, bank loans and loans from fellow group companies

are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the

debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Financial asset and liabilities are only offset in the balance sheet when, and only then there exists a legally

enforceable right to set off the recognised amounts and the Group intends to either settle on a net basis, or to

realise the asset and settle the liability simultaneously.

Debt instruments that have no stated interest rate are classified as payable or receivable within one year are

initially measures at an un-discounted amount of the cash or other consideration expected to be paid, net of

impairment. All amounts owed to group companies are unsecured, interest free, have no date of repayment and

are payable on demand.

Share capital

Ordinary shares are classified as equity. Dividends and other distributions to company's shareholders are

recognised as a liability in the financial statements in the period in which dividends and other distributions are

approved by the company's shareholders. These amounts are recognises in the statement of changes in equity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 4 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

-

93,930

Other debtors

80,206

136,086

80,206

230,016

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed to group undertakings

54,015

303,543

Taxation and social security

-

50,000

Other creditors

40

5,508

54,055

359,051

7.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

ordinary

£1

2

2

Each share has the right to receive dividends as and when they become available.

8.	CONTINGENT LIABILITIES

The company is guarantor of rent payable by Moat Farmhouse Properties LLP. The rent is £27,000 per annum

and the rental agreement expires on the 20th July 2021.

9.	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.