Alycidon Investments Limited Company Accounts
Alycidon Investments Limited Company Accounts
COMPANY REGISTRATION NUMBER:
01874634
|
|
FOR THE YEAR ENDED |
|
|
FINANCIAL STATEMENTS |
YEAR ENDED 31 MARCH 2017
Contents |
Page |
Officers and professional advisers |
1 |
Statement of financial position |
2 |
Notes to the financial statements |
4 |
|
OFFICERS AND PROFESSIONAL ADVISERS |
The board of directors |
|
|
|
|
|
Company secretary |
|
Registered office |
|
|
|
|
|
Accountants |
|
Chartered accountant |
|
Lynton House |
|
7 - 12 Tavistock Square |
|
London |
|
WC1H 9BQ |
|
|
STATEMENT OF FINANCIAL POSITION |
2017 |
2016 |
|||
Note |
£ |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
|
|
||
Investments |
6 |
|
|
||
------------ |
------------ |
||||
|
|
||||
Current assets
Debtors |
7 |
|
(
|
||
Cash at bank and in hand |
|
|
|||
--------- |
--------- |
||||
|
|
||||
Creditors: amounts falling due within one year |
8 |
(
|
(
|
||
--------- |
--------- |
||||
Net current assets |
|
|
|||
------------ |
------------ |
||||
Total assets less current liabilities |
|
|
|||
Creditors: amounts falling due after more than one year |
9 |
(
|
– |
||
Provisions
Taxation including deferred tax |
(
|
(
|
||
------------ |
------------ |
|||
Net assets |
|
|
||
------------ |
------------ |
|||
Capital and reserves
Called up share capital |
|
|
||
Share premium account |
|
|
||
Capital redemption reserve |
|
|
||
Profit and loss account |
|
|
||
------------ |
------------ |
|||
Members funds |
|
|
||
------------ |
------------ |
|||
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
STATEMENT OF FINANCIAL POSITION (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
19 June 2017
, and are signed on behalf of the board by:
|
Director |
Company registration number:
01874634
|
NOTES TO THE FINANCIAL STATEMENTS |
YEAR ENDED 31 MARCH 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 95 Jermyn Street, London, SW1Y 6JE.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. No cash flow statement has been presented for the company.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Income tax
Tangible assets
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
Impairment of fixed assets
A review for 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 reversal at each reporting date. For the purposes of impairment testing, 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 asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to
4
(2016:
4
).
5.
Tangible assets
Freehold property |
|
£ |
|
Cost |
|
At 1 April 2016 |
|
Additions |
|
------------ |
|
At 31 March 2017 |
|
------------ |
|
Depreciation |
|
At 1 Apr 2016 and 31 Mar 2017 |
– |
------------ |
|
Carrying amount |
|
At 31 March 2017 |
|
------------ |
|
At 31 March 2016 |
|
------------ |
|
Tangible assets held at valuation
The company's investment properties were revalued by external professionals as at 31 March 2016. This is reflected in the accounts.
6.
Investments
Other investments other than loans |
|
£ |
|
Cost |
|
At 1 Apr 2016 and 31 Mar 2017 |
|
--------- |
|
Impairment |
|
At 1 Apr 2016 and 31 Mar 2017 |
– |
--------- |
|
Carrying amount |
|
At 31 March 2017 |
|
--------- |
|
During 2015 the company invested £500,000 into Astranta Rufus LP for a 15.63% share as a Limited Partner.
The company also received £45,500 (2016: deficit £2,266) share of net losses from Astranta Rufus LP.
7.
Debtors
2017 |
2016 |
|
£ |
£ |
|
Trade debtors |
|
– |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
|
Other debtors |
|
(
|
-------- |
-------- |
|
|
(
|
|
-------- |
-------- |
|
8.
Creditors:
amounts falling due within one year
2017 |
2016 |
|
£ |
£ |
|
Trade creditors |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
-------- |
--------- |
|
|
|
|
-------- |
--------- |
|
9.
Creditors:
amounts falling due after more than one year
2017 |
2016 |
|
£ |
£ |
|
Bank loans and overdrafts |
|
– |
------------ |
---- |
|
The bank loans are secured by a legal charge on the investment properties and other tangible assets of the company. A debenture was created between the company Lloyds Bank on 23 August 2016.
10.
Directors' advances, credits and guarantees
At the year end the company was owed £10,000 (2016: £10,000) from Bayritz Limited, the 100% shareholder and ultimate parent of the company and where
G T Marsden
, P B Marsden
and P S Bennett
are directors and shareholders. During 2015 the company invested £500,000 for a 15.63% share in Astranta Rufus LP. The company received a profit share of £42,500 (2016: loss: £2,266) from Astranta Rufus LP. The General Partner of the Limited Partnership is Astranta General Partner Limited, a company in which G T Marsden is a director. The Nominee Company of the Limited Partnership is Astranta Nominee Limited, a company in which G T Marsden is a director.
11.
Controlling party
During the year the company was a 100% subsidiary of Bayritz Limited, a company incorporated in the United Kingdom.
12.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
Reconciliation of equity
1 April 2015 |
31 March 2016 |
|||||
As previously stated |
Effect of transition |
FRS 102 (as restated) |
As previously stated |
Effect of transition |
FRS 102 (as restated) |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
Fixed assets |
|
– |
|
|
– |
|
Current assets |
|
– |
|
|
– |
|
Creditors: amounts falling due within one year |
(
|
– |
(
|
(
|
– |
(
|
------------ |
---- |
------------ |
------------ |
---- |
------------ |
|
Net current assets |
|
– |
|
|
– |
|
------------ |
---- |
------------ |
------------ |
---- |
------------ |
|
Total assets less current liabilities |
|
– |
|
|
– |
|
Provisions |
– |
– |
– |
– |
(
|
(
|
------------ |
---- |
------------ |
------------ |
-------- |
------------ |
|
Net assets |
|
– |
|
|
(
|
|
------------ |
---- |
------------ |
------------ |
-------- |
------------ |
|
------------ |
---- |
------------ |
------------ |
-------- |
------------ |
|
Capital and reserves |
|
– |
|
|
(
|
|
------------ |
---- |
------------ |
------------ |
-------- |
------------ |
|