Artisan H (Kings Waterfront) Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05856992 (England and Wales)

ARTISAN H (KINGS WATERFRONT) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Ms M M Ball

REGISTERED OFFICE:

Express Networks 3

6 Oldham Road

Manchester

M4 5DE

REGISTERED NUMBER:

05856992 (England and Wales)

ACCOUNTANTS:

Clarke Nicklin LLP

Chartered Accountants

Clarke Nicklin House

Brooks Drive

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3TD

SOLICITORS:

Mace and Jones

14 Oxford Court

Bishopgate

Manchester

M2 3WQ

FIXED ASSETS

Tangible assets

2

89,054

-

CURRENT ASSETS

Stocks

2,445,000

2,876,631

Debtors

558,347

833,757

3,003,347

3,710,388

CREDITORS

Amounts falling due within one year

3

4,769,537

5,033,972

NET CURRENT LIABILITIES

(1,766,190

)

(1,323,584

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,677,136

)

(1,323,584

)

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(1,677,137

)

(1,323,585

)

SHAREHOLDERS' FUNDS

(1,677,136

)

(1,323,584

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2013 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 27 November 2014 and were signed by:

Ms M M Ball - 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 April 2008).

The company made a loss for the year of £353,552 (2012: £710,075 profit), at 31 December 2013 had

net current liabilities of £1,766,190 (2012: £1,323,584) and its liabilities exceeded its assets by

£1,677,136 (2012: £1,323,584). The company relies on the financial support of its bankers and the

estate of Ms C A Ainscow deceased.

The director is of the opinion that it is appropriate to prepare the financial statements on a going

concern basis. The financial statements do not include any adjustments that would result, should

funding not be available or be insufficient and if the company was unable to continue as a going

concern.

Turnover

Turnover represents amounts receivable for the sale of developed properties, and rental income and

service charges on unsold developments. Sales of properties are recognised on completion. Rental

income and service charges are recognised in the period they relate to.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Stocks

Stock is valued at the lower of cost and net realisable value. Stock includes properties which are under

development or are developed but unsold. Cost includes all expenses of acquisition and development.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

89,054

At 31 December 2013

89,054

NET BOOK VALUE

At 31 December 2013

89,054

3.

CREDITORS

Creditors include an amount of £ 3,443,334 (2012 - £ 3,441,932 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

£

£

1

Ordinary

£1

1

1

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2013

and 31 December 2012:

2013

2012

£

£

Ms C A Ainscow Dec'd

Balance outstanding at start of year

-

-

Amounts advanced

1,362

-

Amounts repaid

-

-

Balance outstanding at end of year

1,362

-

Directors loan account is interest free and repayable on demand.