ACCOUNTS - Final Accounts

1-12 PILGRIMS COURT COMPANY LIMITED - Company Information

Caseware UK (AP4) 2014.0.91 2014.0.91 2017-03-312017-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2016-04-01 01807880 2016-04-01 2017-03-31 01807880 2017-03-31 01807880 2016-03-31 01807880 c:CompanySecretary1 2016-04-01 2017-03-31 01807880 c:Director1 2016-04-01 2017-03-31 01807880 c:RegisteredOffice 2016-04-01 2017-03-31 01807880 d:Buildings 2016-04-01 2017-03-31 01807880 d:Buildings 2017-03-31 01807880 d:Buildings 2016-03-31 01807880 d:LandBuildings 2017-03-31 01807880 d:LandBuildings 2016-03-31 01807880 d:CurrentFinancialInstruments 2017-03-31 01807880 d:CurrentFinancialInstruments 2016-03-31 01807880 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 01807880 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-31 01807880 d:RetainedEarningsAccumulatedLosses 2017-03-31 01807880 d:RetainedEarningsAccumulatedLosses 2016-03-31 01807880 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-03-31 01807880 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-03-31 01807880 c:FRS102 2016-04-01 2017-03-31 01807880 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 01807880 c:AbridgedAccounts 2016-04-01 2017-03-31 01807880 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 iso4217:GBP

Registered number: 01807880

1-12 PILGRIMS COURT CO LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1-12 PILGRIMS COURT CO LIMITED

COMPANY INFORMATION

Director	Mr S D Foulston


Company secretary	Mr R K Seton-Clements


Registered number	01807880


Registered office	237 Westcombe Hill
	Blackheath
	London
	SE3 7DW

1-12 PILGRIMS COURT CO LIMITED

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 7

1-12 PILGRIMS COURT CO LIMITED

REGISTERED NUMBER: 01807880

BALANCE SHEET

AS AT 31 MARCH 2017

		2017		2016
Note		£		£

Fixed assets
Tangible assets	3		10,126		10,126
			10,126		10,126
Current assets
Debtors		409		388
Cash at bank and in hand		14,096		14,889
		14,505		15,277
Creditors: amounts falling due within one year	6	(1,014)		(1,014)
Net current assets			13,491		14,263
Total assets less current liabilities			23,617		24,389
Net assets			23,617		24,389

Capital and reserves
Profit and loss account	23,617	24,389
	23,617	24,389

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 May 2017.

Mr S D Foulston

Director

The notes on pages 3 to 7 form part of these financial statements.

Page 1

1-12 PILGRIMS COURT CO LIMITED

REGISTERED NUMBER: 01807880

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2017

Page 2

1-12 PILGRIMS COURT CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

1.	General information

The principal activity of the company during the year was that of property management.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

·the Company has transferred the significant risks and rewards of ownership to the buyer;

·the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

·the amount of revenue can be measured reliably;

·it is probable that the Company will receive the consideration due under the transaction; and

·the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

·the amount of revenue can be measured reliably;

·it is probable that the Company will receive the consideration due under the contract;

·the stage of completion of the contract at the end of the reporting period can be measured reliably; and

·the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

1-12 PILGRIMS COURT CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property

Not Depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

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.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 4

1-12 PILGRIMS COURT CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

	3.	Tangible fixed assets

		Land and buildings
		£
	Cost or valuation
	At 1 April 2016	10,126
	At 31 March 2017	10,126

	At 31 March 2017	-
	Net book value
	At 31 March 2017	10,126
	At 31 March 2016	10,126

The net book value of land and buildings may be further analysed as follows:
	2017	2016
	£	£

Freehold	10,126	10,126
	10,126	10,126

Debtors

					2017	2016
					£	£


Other debtors	10	-
Prepayments and accrued income	399	388
	409	388

Page 5

1-12 PILGRIMS COURT CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

5.	Cash and cash equivalents
		2017	2016
		£	£

Cash at bank and in hand	14,096	14,889
	14,096	14,889

6.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Corporation tax	240	240
Accruals and deferred income	774	774
	1,014	1,014

7.	Financial instruments
		2017	2016
		£	£

Financial assets
Financial assets measured at fair value through profit or loss	14,096	14,889
	14,096	14,889


8.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 6

1-12 PILGRIMS COURT CO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 7