Latimer Associates (UK) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 03421996 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2016

for

Latimer Associates (UK) Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

C W Keech

D Keech

M Keech

REGISTERED OFFICE:

2nd Floor

181 Queensway

Bletchley

Milton Keynes

MK2 2DZ

REGISTERED NUMBER:

03421996 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

10 Orange Street

London

WC2H 7DQ

FIXED ASSETS

Tangible assets

2

476

669

CURRENT ASSETS

Debtors

3

9,970,036

9,016,889

Cash in hand

172

130

9,970,208

9,017,019

CREDITORS

Amounts falling due within one year

745,232

164,765

NET CURRENT ASSETS

9,224,976

8,852,254

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,225,452

8,852,923

CREDITORS

Amounts falling due after more than one
year

22,123,879

21,991,433

NET LIABILITIES

(12,898,427

)

(13,138,510

)

CAPITAL AND RESERVES

Called up share capital

4

120,000

Share premium

80,000

Profit and loss account

(13,098,427

)

(13,338,510

)

SHAREHOLDERS' FUNDS

(12,898,427

)

(13,138,510

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 27 April 2017 and were signed on its behalf by:

D Keech - Director

1.	ACCOUNTING POLICIES

ACCOUNTING CONVENTION

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

TURNOVER

Turnover relates to the provision of management services and is stated net of value added tax.

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

-

33% on cost

GOING CONCERN

These financial statements have been prepared on the basis that the company is a going concern but reference

should be made to the Note on Financial Commitments.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

13,140

DEPRECIATION

At 1 August 2015

12,471

Charge for year

193

At 31 July 2016

12,664

NET BOOK VALUE

At 31 July 2016

476

At 31 July 2015

669

3.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

The aggregate total of debtors falling due after more than one year is £ 9,676,426 (31.7.15 - £ 8,728,426 )

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

120,000

Ordinary

£1

120,000

5.	ULTIMATE PARENT COMPANY

The parent undertaking is Pedralbes Limited. Willdav Engineering SA, a company incorporated in Switzerland,

is regarded by the directors as being the company's ultimate parent company.

Willdav Engineering SA is wholly owned by the Oliver Foundation, which is a foundation incorporated in

Panama.

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The Director Mr D Keech owed the company £81,195 (2015: £76,049) as at the balance sheet date.

7.	FINANCIAL COMMITMENTS AND GOING CONCERN

The directors have considered the going concern position of the company. They have concluded that the

company is a going concern because amounts included in other creditors are due to related companies, which

have given undertakings that repayments will not be sought until the company is in a position to make

repayments.