Sterling House Estates Limited - Accounts to registrar (filleted) - small 17.3
Sterling House Estates Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2017 |
| for |
| Sterling House Estates Limited |
| Sterling House Estates Limited (Registered number: 02275011) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Sterling House Estates Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Accountants and Registered Auditors |
| 1 St Mary's Street |
| Ross-on-Wye |
| Herefordshire |
| HR9 5HT |
| Sterling House Estates Limited (Registered number: 02275011) |
| Balance Sheet |
| 31 March 2017 |
| 31.3.17 | 31.3.16 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 10 |
| Sterling House Estates Limited (Registered number: 02275011) |
| Balance Sheet - continued |
| 31 March 2017 |
| 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. |
| 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 its behalf by: |
| Sterling House Estates Limited (Registered number: 02275011) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Sterling House Estates Limited is a |
| Wales. The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from |
| changes in fair value is recognised in profit or loss. |
| Investment properties are carried at fair value, derived from the current market prices for comparable |
| real estate determined annually by the directors. The directors use observable market prices, adjusted |
| if necessary for any difference in the nature, location or condition of the property. Changes in fair value |
| are recognised in profit or loss. |
| This treatment as regards the company's investment properties may be a departure from the |
| requirements of the Companies Act concerning the depreciation of fixed assets. However, these |
| properties are not held for consumption but for investment and the directors consider that systematic |
| annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for |
| the financial statements to give a true and fair view. Depreciation or amortisation is only one of many |
| factors reflected in the annual valuation and the amount which might otherwise have been shown |
| cannot be separately identified or quantified. |
| 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. |
| Sterling House Estates Limited (Registered number: 02275011) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the |
| company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| Revaluations | 960,482 |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Sterling House Estates Limited (Registered number: 02275011) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 31 March 2017 is represented by: |
| £ |
| Valuation in 2017 | 5,131,487 |
| Cost | 7,152,924 |
| 12,284,411 |
| If investment properties had not been revalued they would have been included at the following |
| historical cost: |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Cost | 7,152,924 | 7,152,924 |
| Investment properties were valued on an open market basis on 31 March 2017 by D R B Dorman, a director of the company |
| . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 5,652,640 | 5,743,770 |
| Sterling House Estates Limited (Registered number: 02275011) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.17 | 31.3.16 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Bank loans and overdrafts are secured by charges over the investment properties of the company. |
| 10. | RESERVES |
| Retained earnings includes an amount of £4,821,416 (2016 - £3,930,712) that is non-distributable |
| being the surplus on revaluation of investment properties less the provision for tax thereon. |