| PACT Educational (Atkins Road) Limited |
| Registered number: |
08408889 |
| Directors' Report |
|
| The directors present their report and accounts for the period ended 30 June 2014. |
|
| Principal activities |
| The company's principal activity during the period was that of property investment and the letting of own real estate. |
|
| Directors |
| The following persons served as directors during the period: |
|
|
Bernard Pascal Roccia |
|
Neil Terence Crawford |
|
Lance John Bonner |
|
| Political and charitable donations |
| There were no political or charitable donations during the period under consideration. |
|
| Directors' responsibilities |
| The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. |
|
| Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to: |
| ● |
select suitable accounting policies and then apply them consistently; |
| ● |
make judgements and estimates that are reasonable and prudent; |
| ● |
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
|
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
|
| Disclosure of information to auditors |
| PACT Educational (Atkins Road) Limited |
| Independent auditors' report |
| to the members of PACT Educational (Atkins Road) Limited |
|
| We have audited the accounts of PACT Educational (Atkins Road) Limited for the period ended 30 June 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard For Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities). |
| This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
| Respective responsibilities of directors and auditors |
| As explained more fully in the Statement of Directors' Responsibilities, the directors are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the accounts in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's (APB's) Ethical Standards for Auditors. |
| In accordance with the exemption provided by APB Ethical Standard - Provisions Available for Smaller Entities (Revised), we have prepared and submitted the company’s returns to the tax authorities and assisted with the preparation of the accounts. |
| Scope of the audit of the accounts |
| A description of the scope of an audit of financial statements is provided on the APB’s website at www.frc.org.uk/apb/scope/private.cfm |
|
| Opinion on other matters prescribed by the Companies Act 2006 |
| In our opinion the information given in the Directors' Report for the financial period for which the accounts are prepared is consistent with the accounts. |
| Matters on which we are required to report by exception |
| We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
| ● |
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
| ● |
the accounts are not in agreement with the accounting records and returns; or |
| ● |
certain disclosures of directors’ remuneration specified by law are not made; or |
| ● |
we have not received all the information and explanations we require for our audit; or |
| ● |
the directors were not entitled to prepare the accounts and the directors' report in accordance with the small companies regime. |
|
|
| Fahreen Meghani |
| (Senior Statutory Auditor) |
155-157a Clapham High Street |
| for and on behalf of |
Jaybee House |
| N Harris & Co |
London |
| Accountants and Statutory Auditors |
| 19 November 2014 |
SW4 7SS |
|
| PACT Educational (Atkins Road) Limited |
| Notes to the Accounts |
| for the period from 19 February 2013 to 30 June 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Income |
|
Income represents rent receivable from tenants. |
|
|
| 2 |
Operating profit |
2014 |
|
| £ |
|
|
This is stated after charging: |
|
|
Auditors' remuneration |
810 |
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
2014 |
|
| £ |
|
|
|
UK corporation tax |
20,258 |
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 19 February 2013 |
2,233,514 |
|
At 30 June 2014 |
2,233,514 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 June 2014 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2014 |
2,233,514 |
|
At 18 February 2013 |
2,233,514 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2014 |
|
| £ |
|
|
|
Corporation tax |
20,258 |
|
Other creditors and accruals |
2,262,673 |
|
|
|
|
|
|
2,282,931 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
| value |
Number |
£ |
|
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
| Nominal |
Number |
Amount |
| value |
£ |
|
Shares issued during the period: |
|
Ordinary shares |
£1 each |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
| 7 |
Profit and loss account |
2014 |
| £ |
|
|
At 19 February 2013 |
(810) |
|
Profit for the period |
81,033 |
|
|
At 30 June 2014 |
80,223 |
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
|
|
|
|
|
|
|
PACT Educational (Atkins Road) Limited is a subsidiary of Forcia Property Limited, a company incorporated in the United Kingdom. During the period under review, transactions between the two companies amounted to £2,233,514. This amount was still owed to Forcia Property Limited as at 30 June 2014. |
|
|
| 9 |
Ultimate controlling party |
|
The ultimate controlling party during the year to 30 June 2014 was Forcia Property Limited by virtue of the fact that, it owns 100% of the issued share capital of the company. |
