Arch House Associates Limited - Accounts to registrar (filleted) - small 18.2
Arch House Associates Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2019 |
| FOR |
| ARCH HOUSE ASSOCIATES LIMITED |
| ARCH HOUSE ASSOCIATES LIMITED (REGISTERED NUMBER: 03179968) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 August 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| ARCH HOUSE ASSOCIATES LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 August 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Langley House |
| Park Road |
| East Finchley |
| London |
| N2 8EY |
| ARCH HOUSE ASSOCIATES LIMITED (REGISTERED NUMBER: 03179968) |
| STATEMENT OF FINANCIAL POSITION |
| 31 August 2019 |
| 31.8.19 | 31.8.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Undistributable reserves | 9 |
| Retained earnings | 9 |
| SHAREHOLDERS' FUNDS |
| 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. |
| ARCH HOUSE ASSOCIATES LIMITED (REGISTERED NUMBER: 03179968) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 31 August 2019 |
| 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 and authorised for issue on on its behalf by: |
| ARCH HOUSE ASSOCIATES LIMITED (REGISTERED NUMBER: 03179968) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 August 2019 |
| 1. | STATUTORY INFORMATION |
| Arch House Associates Limited is a |
| 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 |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life: |
| Improvements to property - 10% reducing balance method |
| Plant and machinery - 25% reducing balance method |
| Fixtures and fittings - 18% reducing balance method |
| Computer equipment - 33% reducing balance method |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficits arising from changes in fair |
| value is recognised in profit or loss. |
| This is a departure from the Companies Act which requires assets to be depreciated. However, in the opinion of the |
| directors, property is held primarily for their investment potential and so fair value is of more significance as a |
| measure of consumption. They therefore have applied a true and fair override with respect to investment properties. |
| The directors have made key assumptions in the determination of the fair value of an investment property in |
| respect of the state of the property market in the location where the property is situated and in respect of the |
| range of reasonable fair value estimates of the asset. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial assets |
| and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related |
| parties and investments in non-puttable ordinary shares. |
| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other |
| accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently |
| amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, |
| typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash |
| or other consideration expected to be paid or received. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
| objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in |
| the Statement of Comprehensive Income. |
| ARCH HOUSE ASSOCIATES LIMITED (REGISTERED NUMBER: 03179968) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 August 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 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. |
| Impairment |
| A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being |
| estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is |
| impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date. |
| When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the |
| recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest |
| identifiable group of assets that includes the assets and generates cash inflows that are largely independent of the |
| cash inflows from other assets or group of assets. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2018 - NIL). |
| ARCH HOUSE ASSOCIATES LIMITED (REGISTERED NUMBER: 03179968) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 August 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements | Fixtures |
| to | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2018 |
| and 31 August 2019 |
| DEPRECIATION |
| At 1 September 2018 |
| Charge for year |
| At 31 August 2019 |
| NET BOOK VALUE |
| At 31 August 2019 |
| At 31 August 2018 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2018 |
| Disposals | ( |
) |
| At 31 August 2019 |
| NET BOOK VALUE |
| At 31 August 2019 |
| At 31 August 2018 |
| Investment property was valued on fair value basis by the director at 13th December 2017. |
| Fair value at 31 August 2019 is represented by: |
| £ |
| Valuation in 2014 | 132,190 |
| Valuation in 2016 | 13,533 |
| Valuation in 2017 | (64,183 | ) |
| Cost | 138,460 |
| 220,000 |
| According to directors of the company, there is no material movement between current market value of the property |
| from the valuation carried out in December 2017. |
| ARCH HOUSE ASSOCIATES LIMITED (REGISTERED NUMBER: 03179968) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 August 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.19 | 31.8.18 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.19 | 31.8.18 |
| £ | £ |
| Other creditors |
| Included in other creditors are accrued expenses of £1,920 (2018:£1,800). |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.19 | 31.8.18 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 9. | RESERVES |
| Retained | Undistributable |
| earnings | reserves | Totals |
| £ | £ | £ |
| At 1 September 2018 | 614,876 |
| Deficit for the year | ( |
) | ( |
) |
| Dividends | ( |
) | ( |
) |
| Investment property | 156,225 | (156,225 | ) | - |
| At 31 August 2019 | 394,269 |
| Within the reserves is an amount of £81,539. This represents the fair value adjustment of the investment properties |
| and the deferred tax. FRS 102 requires that the changes in fair value be recognised in the profit and loss, but that the |
| fair value gains cannot be distributed to the shareholders as a dividend. |