ACCOUNTS - Final Accounts

Work in progress

THE ACRES CRAWLEY DOWN LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-312017-03-31trueNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2016-03-01 8385654 2016-03-01 2017-03-31 8385654 2017-03-31 8385654 2016-02-29 8385654 c:Director3 2016-03-01 2017-03-31 8385654 d:CurrentFinancialInstruments 2017-03-31 8385654 d:CurrentFinancialInstruments 2016-02-29 8385654 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 8385654 d:CurrentFinancialInstruments d:WithinOneYear 2016-02-29 8385654 d:ShareCapital 2017-03-31 8385654 d:ShareCapital 2016-02-29 8385654 d:RetainedEarningsAccumulatedLosses 2017-03-31 8385654 d:RetainedEarningsAccumulatedLosses 2016-02-29 8385654 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-03-31 8385654 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-02-29 8385654 d:TaxLossesCarry-forwardsDeferredTax 2017-03-31 8385654 c:OrdinaryShareClass1 2016-03-01 2017-03-31 8385654 c:OrdinaryShareClass1 2017-03-31 8385654 c:FRS102 2016-03-01 2017-03-31 8385654 c:AuditExempt-NoAccountantsReport 2016-03-01 2017-03-31 8385654 c:FullAccounts 2016-03-01 2017-03-31 8385654 c:PrivateLimitedCompanyLtd 2016-03-01 2017-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 8385654

THE ACRES CRAWLEY DOWN LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

THE ACRES CRAWLEY DOWN LIMITED

REGISTERED NUMBER: 8385654

BALANCE SHEET

AS AT 31 MARCH 2017

	31 March	29 February
	2017	2016
Note	£	£


Current assets
Work in progress	3	60,449		15,893
Debtors: amounts falling due within one year	4	25,405		25,190
Cash at bank and in hand	5	100		100
		85,954		41,183
Creditors: amounts falling due within one year	6	(87,475)		(41,843)
Net current liabilities			(1,521)		(660)
Total assets less current liabilities			(1,521)		(660)

Net liabilities			(1,521)		(660)

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		(1,621)	(760)
		(1,521)	(660)

The directors consider 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 period in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their 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 income and retained earnings 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 by:

J A J Kelly

Director

Date: 20 November 2017

The notes on pages 2 to 5 form part of these financial statements.

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THE ACRES CRAWLEY DOWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

1.Accounting policies

1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies 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 following principal accounting policies have been applied:

1.2

Work in progress

Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

1.3

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.

1.4

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.

1.5

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.

1.6

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.

1.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of income and retained earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 2

THE ACRES CRAWLEY DOWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

1.Accounting policies (continued)

1.8

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in the Statement of income and retained earnings, 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.	General information

The Acres Crawley Down Limited is a limited company incorporated in England and Wales. The principal place of business is 26 Monck Street, London, SW1P 2AP.

	Work in progress	60,449	15,893

Debtors

					31 March	29 February
					2017	2016
					£	£


Other debtors	25,000	25,000
Deferred taxation	405	190
	25,405	25,190

Page 3

THE ACRES CRAWLEY DOWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

	Cash at bank and in hand	100	100

Other creditors	87,475	41,093
Accruals and deferred income	-	750
	87,475	41,843

	Financial assets
	Financial assets measured at fair value through profit or loss	100	100

Financial assets measured at fair value through profit or loss comprise cash held.

Page 4

THE ACRES CRAWLEY DOWN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2017

8.	Deferred taxation

		2017
		£

	At beginning of year	190
	Charged to profit or loss	215
	At end of year	405

	The deferred tax asset is made up as follows:
					31 March
					2017
					£

Tax losses carried forward

405

Allotted, called up and fully paid

100 Ordinary shares of £1 each	100	100

10.	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.

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