Austringer Capital Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11182462 (England and Wales)

AUSTRINGER CAPITAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2018 TO 31 JULY 2019

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr Y A Bux

Mrs B Jennings

Registered office:

Barton Hall

Garstang Road

Broughton

PRESTON

PR3 5BT

Registered number:

11182462 (England and Wales)

Accountants:

Scott & Wilkinson LLP

Chartered Accountants

Dalton House

9 Dalton Square

LANCASTER

LA1 1WD

Fixed assets

Tangible assets

4

12,448

Investment property

5

26,669,763

26,682,211

Current assets

Stocks

7,733,127

Debtors

330,838

Prepayments and accrued income

1,000

Cash at bank

298,563

8,363,528

Creditors

Amounts falling due within one year

31,714,722

Net current liabilities

(23,351,194

)

Total assets less current liabilities

3,331,017

Creditors

Amounts falling due after more than one year

(4,300,000

)

Accruals and deferred income

(15,581

)

Net liabilities

(984,564

)

Capital and reserves

Called up share capital

7

1

Retained earnings

(984,565

)

Shareholders' funds

(984,564

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 July 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 Balance Sheet for the period ended 31 July 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 12 December 2019 and were signed on its behalf by:

Mr Y A Bux - Director

1.	Statutory information

Austringer Capital 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.

Going concern basis

The financial statements have been prepared on a going concern basis as although the company has negative

reserves, the parent company has made a loan to support the company during property development.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

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

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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the period 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 period 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 period was NIL.

4.	Tangible fixed assets

Totals

£

Cost

Additions

14,705

At 31 July 2019

14,705

Depreciation

Charge for period

2,257

At 31 July 2019

2,257

Net book value

At 31 July 2019

12,448

5.	Investment property

Total

£

Fair value

Additions

26,218,292

Revaluations

451,471

At 31 July 2019

26,669,763

Net book value

At 31 July 2019

26,669,763

Fair value at 31 July 2019 is represented by:

£

Valuation in 2019

451,471

Cost

26,218,292

26,669,763

6.	Secured debts

The following secured debts are included within creditors:

£

Bank loans

4,300,000

Other loans

14,376,615

18,676,615

The loans are secured by fixed and floating charges over property held by the company.

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

1

Ordinary

£1

1

1 Ordinary share of £1 was issued during the period for cash of £ 1 .

8.	Related party disclosures

During the year the company borrowed £4,758,807 from Austringer Estates Limited, a group member. This

unsecured loan is free of interest and repayable on demand. The full amount was outstanding at the year end.