Atha Developments (No. 1) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08746177 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Atha Developments (No. 1) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C A S Atha

J A Atha

T C Atha

REGISTERED OFFICE:

137 Albert Road

Middlesbrough

TS1 2PP

REGISTERED NUMBER:

08746177 (England and Wales)

ACCOUNTANTS:

APC Accountancy

Chartered Accountants

Queens Court Business Centre

Newport Road

Middlesbrough

TS1 5EH

FIXED ASSETS

Tangible assets

4

1,605,132

6,516,178

Investments

5

100

100

1,605,232

6,516,278

CURRENT ASSETS

Stocks

1,029,982

998,544

Debtors

6

2,534,092

201,598

Cash at bank

9,789

159,023

3,573,863

1,359,165

CREDITORS

Amounts falling due within one year

7

2,776,183

5,472,848

NET CURRENT ASSETS/(LIABILITIES)

797,680

(4,113,683

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,402,912

2,402,595

CREDITORS

Amounts falling due after more than one year

8

(732,139

)

(768,587

)

PROVISIONS FOR LIABILITIES

10

(4,046

)

(95,435

)

NET ASSETS

1,666,727

1,538,573

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

17,250

406,857

Retained earnings

1,649,377

1,131,616

SHAREHOLDERS' FUNDS

1,666,727

1,538,573

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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 27 May 2020 and were signed on its behalf by:

C A S Atha - Director

1.	STATUTORY INFORMATION

Atha Developments (No. 1) 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.

Related party exemption

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.

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.

Plant and machinery etc. - 20% on cost

Land and buildings - no depreciation

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 September 2018

6,490,000

55,231

6,545,231

Disposals

(4,900,000

)

-

(4,900,000

)

At 31 August 2019

1,590,000

55,231

1,645,231

DEPRECIATION

At 1 September 2018

-

29,053

29,053

Charge for year

-

11,046

11,046

At 31 August 2019

-

40,099

40,099

NET BOOK VALUE

At 31 August 2019

1,590,000

15,132

1,605,132

At 31 August 2018

6,490,000

26,178

6,516,178

The property St James Studios, 139 Albert Road Middlesbrough was acquired by subsidiary company Atha

Developments (No. 2) Limited at a market value of £4.9M on the 1st September 2018.

Cost or valuation at 31 August 2019 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2018

21,296

-

21,296

Cost

1,568,704

55,231

1,623,935

1,590,000

55,231

1,645,231

The property at 3 Park Road South, Middlesbrough was valued on 31 August 2018 by Sanderson Weatherall at

£1.4M. The directors have reviewed this valuation at 31 August 2019 and consider there to be no change.

The other properties held by the company have been valued on an open market basis on the 31 August 2019 by

the directors.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 September 2018

and 31 August 2019

100

NET BOOK VALUE

At 31 August 2019

100

At 31 August 2018

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Trade debtors

14,570

3,976

Amounts owed by group undertakings

2,444,729

77,795

Other debtors

74,793

119,827

2,534,092

201,598

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans and overdrafts

25,007

2,525,006

Trade creditors

192,217

658,990

Taxation and social security

9,659

66,134

Other creditors

2,549,300

2,222,718

2,776,183

5,472,848

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.19

31.8.18

£

£

Bank loans

732,139

768,587

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.19

31.8.18

£

£

Bank loans

757,146

3,293,593

Lloyds Bank Plc hold fixed and floating charges over the assets of the company under mortgages dated 3 June

2016, 29 July 2016 and 27 November 2017.

10.	PROVISIONS FOR LIABILITIES

31.8.19

31.8.18

£

£

Deferred tax

4,046

95,435

Deferred

tax

£

Balance at 1 September 2018

95,435

Reversed in the year

(91,389

)

Balance at 31 August 2019

4,046

11.	RELATED PARTY DISCLOSURES

During the period the company invoiced Atha & Co Solicitors, a company that C A S Atha is a director of,

£184,000 (2018: £190,800).

During the period Atha & Co. Solicitors advanced the company £200,000 (2018: £Nil). The full amount was

outstanding at 31 August 2019. Interest is being charged on this loan at a rate of 3% per annum.

At 31 August 2019 the company owed it directors; C A S Atha £77,231 (2018: £98,500), J A Atha £428,008

(2018: £428,008) and T C Atha £428,008 (2018: £428,008).

At 31 August 2018 the company was owed £2,444,729 (2018: £77,795) by its subsidiary Atha Developments

(No. 2) Limited.

At 31 August 2019 the company was owed £56,570 (2018: £8,393) by Atha Developments (No. 3) Limited, a

company under common directorship.

No interest has been charged on the above balances.

12.	ULTIMATE CONTROLLING PARTY

The controlling parties are the Trustees, Mr CAS Atha and Mrs K A Atha of The Charles Anthony Stewart Atha

Discretionary Settlement.