1 Stanhope Gardens Limited - Accounts to registrar - small 16.3d

REGISTERED NUMBER: 09606267 (England and Wales)

Unaudited Financial Statements

for the Period 23 May 2015 to 31 May 2016

for

1 Stanhope Gardens Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

A Budgen

A F Carr

N H Lonsdale

S R Heydon

SECRETARY:

S R Heydon

REGISTERED OFFICE:

104 High Street

London Colney

St. Albans

Hertfordshire

AL2 1QL

REGISTERED NUMBER:

09606267 (England and Wales)

ACCOUNTANTS:

Lee Accounting Services Limited

Trading as Lee & Co

Chartered Accountants

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

FIXED ASSETS

Tangible assets

3

2,272,401

CURRENT ASSETS

Stocks

4

146,702

Debtors

5

191

Cash at bank

11,539

158,432

CREDITORS

Amounts falling due within one year

6

4,178

NET CURRENT ASSETS

154,254

TOTAL ASSETS LESS CURRENT LIABILITIES

2,426,655

CREDITORS

Amounts falling due after more than one year

7

2,427,413

NET LIABILITIES

(758

)

CAPITAL AND RESERVES

Called up share capital

4

Retained earnings

(762

)

SHAREHOLDERS' FUNDS

(758

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 23 February 2017 and were signed on its behalf by:

S R Heydon - Director

A Budgen - Director

1.	STATUTORY INFORMATION

1 Stanhope Gardens 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

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

Land and buildings

-

not provided

Depreciation is not currently provided on land and buildings as they are held for development purposes.

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

True and fair override

The company has decided to depart from the requirement of FRS 102 to measure long term bank and

intercompany loans at amortised cost. The company believes that due to the nature of the business to purchase,

develop and sell property, amortising these loans would not give a true and fair view of the balance sheet

position. As a result, these loans have been held at historic cost.

Financial instruments

Creditors

Short term creditors are measured at the transaction price. Bank and intercompany loans are measured at

historic cost as explained above.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

Additions

2,272,401

At 31 May 2016

2,272,401

NET BOOK VALUE

At 31 May 2016

2,272,401

4.

STOCKS

£

Work-in-progress

146,702

Included in work-in-progress are capitalised borrowing costs of £107,642.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

191

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

1,325

Other creditors

2,853

4,178

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

1,596,255

Amounts owed to participating interests

831,158

2,427,413

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

1,596,255

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

1,596,255

9.	RELATED PARTY DISCLOSURES

Heydon & Carr Limited

A company under the control of two of the directors.

The related party provided a funding loan to support fixed asset acquisitions. The loan is not interest bearing

and has no fixed term of repayment but the related party does not intend to recall the loan within 12 months of

the balance sheet date.

£

Amount due to related party at the balance sheet date

395,579

HAC Plant Hire Limited

A company under the control of two of the directors.

The related party provided a funding loan to support fixed asset acquisitions. The loan is not interest bearing

and has no fixed term of repayment but the related party does not intend to recall the loan within 12 months of

the balance sheet date.

£

Amount due to related party at the balance sheet date

20,000

Spacelab Developments Limited

A company under the control of two of the directors.

The related party provided a funding loan to support fixed asset acquisitions. The loan is not interest bearing

and has no fixed term of repayment but the related party does not intend to recall the loan within 12 months of

the balance sheet date.

£

Amount due to related party at the balance sheet date

415,579

The following reproduces the text of the report prepared for the directors and members 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 Balance Sheet. 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 1 Stanhope Gardens Limited for the period ended 31 May 2016 which comprise the Income

Statement, Balance Sheet, 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 1 Stanhope Gardens Limited, 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 1 Stanhope Gardens Limited and state those matters that we have agreed to state to the Board of Directors of 1 Stanhope Gardens Limited, 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 1 Stanhope Gardens Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that 1 Stanhope Gardens Limited 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 loss of 1 Stanhope Gardens Limited. You consider that 1 Stanhope Gardens Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of 1 Stanhope Gardens Limited. 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.

Lee Accounting Services Limited

Trading as Lee & Co

Chartered Accountants

26 High Street

Rickmansworth

Hertfordshire

WD3 1ER

Date: .............................................