Atlantis Holdings Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05773396 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

ATLANTIS HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J J Sykes

A J Strong

REGISTERED OFFICE:

First Floor

23/24 Market Place

Reading

Berkshire

RG1 2DE

REGISTERED NUMBER:

05773396 (England and Wales)

ACCOUNTANTS:

Wilkins Kennedy LLP

Chartered Accountants

Griffins Court

24-32 London Road

NEWBURY

Berkshire

RG14 1JX

FIXED ASSETS

Investment property

4

43,960,750

36,603,150

CURRENT ASSETS

Debtors

5

973,655

769,860

Cash at bank

70,313

294,356

1,043,968

1,064,216

CREDITORS

Amounts falling due within one year

6

17,618,483

19,772,404

NET CURRENT LIABILITIES

(16,574,515

)

(18,708,188

)

TOTAL ASSETS LESS CURRENT LIABILITIES

27,386,235

17,894,962

CREDITORS

Amounts falling due after more than one year

7

(13,889,167

)

(9,080,496

)

PROVISIONS FOR LIABILITIES

(2,224,661

)

(1,555,559

)

NET ASSETS

11,272,407

7,258,907

CAPITAL AND RESERVES

Called up share capital

9

100

100

Investment property

fair value reserve

10

11,272,307

7,258,807

SHAREHOLDERS' FUNDS

11,272,407

7,258,907

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 16 August 2017 and were signed on its behalf by:

J J Sykes - Director

1.	STATUTORY INFORMATION

Atlantis Holdings 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 as modified by the revaluation

of certain assets.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the

nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

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 for assets and liabilities as at the balance sheet date and the amounts reported for revenues

and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those

estimates. The following judgements (apart from those involving estimates) have had the most significant effect on amounts

recognised in the financial statements.

Revenue recognition

The key judgements made by management in respect of revenue is the point at which that revenue should be recognised.

Management consider the underlying contract terms and conclude upon the most appropriate point of the cycle at which

to recognise revenue based upon the these terms and in particular where the risks and rewards of ownership transfer.

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The

actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual

value assessment consider issues such as the remaining life of the asset and the projected disposal value.

Investment Property

The director has also made key assumptions in the determination of the fair value of the investment properties in respect

of the state of the property market in the location where the property is situated and in respect of the range of reasonable

fair value estimates of the asset.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover relates to the sales within the UK market. The policies adopted for the recognition of turnover are as follows:

Sales of goods

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the

amount of turnover can be measured reliable, it is probable that the economic benefits associated with the transaction will

flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliable. This

is usually on dispatch of the goods.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from the rendering of services is recognised as the

service is performed.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been

enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be

recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating lease commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction

price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2016

36,603,150

Additions

2,663,430

Revaluations

4,694,170

At 31 December 2016

43,960,750

NET BOOK VALUE

At 31 December 2016

43,960,750

At 31 December 2015

36,603,150

Cost or valuation at 31 December 2016 is represented by:

£

Valuation in 2016

4,694,170

Valuation in 2015

945,291

Valuation in 2014

5,430,557

Valuation in 2013

537,056

Valuation in 2012

79,321

Valuation in 2011

16,829

Valuation in 2010

242,000

Valuation in 2009

1,469,370

Cost

30,546,156

43,960,750

If investment properties had not been revalued they would have been included at the following historical cost:

31/12/16

31/12/15

£

£

Cost

30,546,156

27,944,958

Investment properties were subject to valuation by the director who is not a professionally qualified valuer, but has recent

experience in the location and class of investment properties being revalued.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade debtors

344

139,748

Amounts owed by group undertakings

860,498

618,019

Other debtors

112,813

12,093

973,655

769,860

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Bank loans and overdrafts

2,215,692

8,128,658

Trade creditors

36,020

226,317

Taxation and social security

182,232

209,546

Other creditors

15,184,539

11,207,883

17,618,483

19,772,404

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/16

31/12/15

£

£

Bank loans

13,889,167

9,080,496

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,778,192

3,123,271

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/16

31/12/15

£

£

Bank loans

16,104,859

17,209,154

The loans are secured against the properties for which they relate to.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/16

31/12/15

value:

£

£

100

Ordinary

£1.00

100

100

10.

RESERVES

Investment

property

fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2016

-

7,258,807

7,258,807

Profit for the year

4,801,353

4,801,353

Dividends

(787,853

)

(787,853

)

Transfer

(4,013,500

)

4,013,500

-

At 31 December 2016

-

11,272,307

11,272,307

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial

Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly

owned subsidiaries within the group.

At the year end amounts owed to companies under common control of key management personnel totalled £1,250,464,

(2015 - £Nil) as shown within other creditors.

At the year end the company owed key management personnel £13,048,442 (2015 - £10,473,765)

During the year dividends to shareholders were £787,853 (2015 - £4,603,553)

12.	ULTIMATE CONTROLLING PARTY

The ultimate parent company is AG (AHL) Limited incorporated in England and Wales.

13.	FIRST YEAR ADOPTION

This is the first year that the Company has presented its financial statements under Financial Reporting Standard 102 (FRS

102) issued by the Financial Reporting Council. The last financial statements prepared under the previous UK GAAP were

for the year ended 31 December 2015 and the date of transition was therefore 1 January 2015. As a consequence of

adopting FRS 102 the Directors are of the opinion that no changes need to be made upon transition to this accounting

standard as the effect of any changes are not material.