| SSH Investments Limited |
|
| Report to the directors on the preparation of the unaudited statutory accounts of SSH Investments Limited for the year ended 31 March 2017 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of SSH Investments Limited for the year ended 31 March 2017 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/ |
| This report is made solely to the Board of Directors of SSH Investments Limited, as a body, in accordance with the terms of our engagement letter dated 12 December 2017. Our work has been undertaken solely to prepare for your approval the accounts of SSH Investments Limited and state those matters that we have agreed to state to the Board of Directors of SSH Investments Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SSH Investments Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that SSH Investments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of SSH Investments Limited. You consider that SSH Investments 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 accounts of SSH Investments 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 accounts. |
|
| Robert Cole & Co |
| Chartered Certified Accountants |
| Office 2 Llynfi Enterprise Centre |
| Heol Ty Gwyn Industral Estate |
| Maesteg |
| CF34 0BQ |
|
| 14 December 2017 |
|
| SSH Investments Limited |
| Registered number: |
07928628 |
| Balance Sheet |
| as at 31 March 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
1,390,590 |
|
|
775,081 |
|
| Current assets |
| Debtors |
4 |
|
1,349,725 |
|
|
1,404,500 |
| Cash at bank and in hand |
|
|
74,894 |
|
|
6,007 |
|
|
|
1,424,619 |
|
|
1,410,507 |
|
| Creditors: amounts falling due within one year |
5 |
|
(2,814,927) |
|
|
(2,184,542) |
|
| Net current liabilities |
|
|
|
(1,390,308) |
|
|
(774,035) |
|
| Net assets |
|
|
|
282 |
|
|
1,046 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Allotted, called up and fully paid share capital |
|
|
|
2 |
|
|
2 |
| Profit and loss account |
|
|
|
280 |
|
|
1,044 |
|
| Shareholders' funds |
|
|
|
282 |
|
|
1,046 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| S S Hawking |
| Director |
| Approved by the board on 14 December 2017 |
|
| SSH Investments Limited |
| Notes to the Accounts |
| for the year ended 31 March 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
This is the first year in which financial statements have been prepared under FRS 102. Refer to note 8 for an explanation of the transition. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes interest, rents and commissions earned from investments held. |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Critical accounting estimates and judgements |
|
|
The significant accounting policies applied in the preparation of these financial statements are set out above. These policies have been consistently applied to all years presented unless otherwise stated. |
|
No significant judgements have had to be made by the directors in preparaing these financial statements. |
|
|
| 3 |
Investments |
|
| Other |
| investments |
| £ |
|
Cost |
|
At 1 April 2016 |
775,081 |
|
Additions |
1,153,373 |
|
Disposals |
(537,864) |
|
|
At 31 March 2017 |
1,390,590 |
|
|
| 4 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Other debtors |
1,349,725 |
|
1,404,500 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Taxation and social security costs |
2,709 |
|
151 |
|
Other creditors |
2,812,218 |
|
2,184,391 |
|
|
|
|
|
|
2,814,927 |
|
2,184,542 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Other information |
|
|
SSH Investments Limited is a private company limited by shares and incorporated in England & Wales. Its registered office is: |
|
65a Station Road |
|
Port Talbot |
|
SA13 1NW |
|
|
| 7 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
| 8 |
Reconciliations on adoption of FRS 102 |
|
|
This is the first year that the company has presented its results under FRS 102. The last financial statements under previous UK GAAP were for the year-ended 31 March 2016 and the date of transition to FRS 102 was 1 April 2015. |
|
There are no changes in accounting policies which necessitate a reconcilition of the profit for the financial year-ended 31 March 2016 and the total equity as at 1 April 2015 and 31 March 2016 between UK GAAP, as previously reported, and under FRS 102 in these financial statements. |
