John Christie Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 00286494 (England and Wales)

JOHN CHRISTIE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

A J Christie

SECRETARY:

S J Hopwood

REGISTERED OFFICE:

Glyndebourne Estate Office

Glyndebourne

Lewes

East Sussex

BN8 5UU

REGISTERED NUMBER:

00286494 (England and Wales)

ACCOUNTANTS:

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

FIXED ASSETS

Investments

4

312,619

481,167

CURRENT ASSETS

Cash at bank

132,877

104,237

CREDITORS

Amounts falling due within one year

5

2,153

1,941

NET CURRENT ASSETS

130,724

102,296

TOTAL ASSETS LESS CURRENT LIABILITIES

443,343

583,463

PENSION LIABILITY

(41,109

)

(284,920

)

NET ASSETS

402,234

298,543

CAPITAL AND RESERVES

Called up share capital

6

1,233,000

1,233,000

Retained earnings

(830,766

)

(934,457

)

SHAREHOLDERS' FUNDS

402,234

298,543

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 2nd November 2017 and were signed by:

A J Christie - Director

1.	STATUTORY INFORMATION

John Christie 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.

Preparation of consolidated financial statements

The financial statements contain information about John Christie Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Turnover

Turnover is the amount receivable from investment income and bank interest.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	FIXED ASSET INVESTMENTS

2017

2016

£

£

Shares in group undertakings

291,115

291,115

Other investments not loans

21,504

190,052

312,619

481,167

Additional information is as follows:

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

COST OR VALUATION

At 1st April 2016

291,115

168,290

459,405

Disposals

-

(148,930

)

(148,930

)

Revaluations

-

2,144

2,144

At 31st March 2017

291,115

21,504

312,619

NET BOOK VALUE

At 31st March 2017

291,115

21,504

312,619

At 31st March 2016

291,115

168,290

459,405

Cost or valuation at 31st March 2017 is represented by:

Shares in

group

Listed

undertakings

investments

Totals

£

£

£

Valuation in 2017

-

4,871

4,871

Cost

291,115

16,633

307,748

291,115

21,504

312,619

Investments (neither listed nor unlisted) were as follows:

2017

2016

£

£

Cash held by stockbrokers

-

21,762

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed to group undertakings

352

344

Other creditors

1,801

1,597

2,153

1,941

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,233,000

Ordinary

£1

1,233,000

1,233,000

7.	PENSION SCHEME

The John Christie Limited group of companies are members of the Christie Pension & Life Assurance Scheme,

which is a multi employer scheme. Although John Christie Limited has no employees, apart from the director,

contributions are being made on behalf of other past group companies which still have members in the pension

scheme.

8.	UNDERWRITING OF PENSION SCHEME

The company's pension scheme liability has been fully underwritten by A J Christie whose net worth was verified

as part of the sectionalisation of the pension scheme in December 2008. Since that date his net worth has

increased and a significant proportion of the pension scheme deficit has already been funded. The pension

scheme liability represents only a small percentage of A J Christie's net worth.

9.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102, having previously prepared them

under UK GAAP. The date of transition to FRS 102 was 1st April 2015. The main amendment arising from

FRS102 was to include a creditor as at 1st April 2015 for the full amount of the past service deficit which

amounted to £523,951. Listed investments are now included at market value.

The pension contributions of £243,812 and £239,031 for the years ended 31st March 2017 and 31 March 2016

respectively have been offset against the creditor. For corporation tax purposes however the pension payments

are allowable as paid.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of John Christie Limited for the year ended 31st March 2017 which comprise the Income Statement,

Balance Sheet and the related notes from the company's accounting records and from information and explanations you

have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of John Christie Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of John Christie Limited and state those matters that we have agreed to state to the director of John Christie Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Christie Limited director for our work or for this report.

It is your duty to ensure that John Christie Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of John Christie Limited. You consider that John Christie Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of John Christie Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

17th November 2017