Alistair Bone Estate Agents Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07574024 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st March 2017

for

ALISTAIR BONE ESTATE AGENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A N Bone

REGISTERED OFFICE:

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

REGISTERED NUMBER:

07574024 (England and Wales)

ACCOUNTANTS:

Davies Mayers Barnett

Pillar House

113/115 Bath Road

Cheltenham

Gloucestershire

GL53 7LS

FIXED ASSETS

Tangible assets

5

19,787

33,061

CURRENT ASSETS

Debtors

6

103,222

144,938

Cash at bank

2,654

2,023

105,876

146,961

CREDITORS

Amounts falling due within one year

7

(234,775

)

(169,946

)

NET CURRENT LIABILITIES

(128,899

)

(22,985

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(109,112

)

10,076

CREDITORS

Amounts falling due after more than one year

8

(1,048

)

(10,135

)

NET LIABILITIES

(110,160

)

(59

)

CAPITAL AND RESERVES

Called up share capital

101

101

Share premium

39,960

39,960

Retained earnings

(150,221

)

(40,120

)

SHAREHOLDERS' FUNDS

(110,160

)

(59

)

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 Profit and loss account has not been delivered.

The financial statements were approved by the director on 22nd December 2017 and were signed by:

A N Bone - Director

1.	STATUTORY INFORMATION

Alistair Bone Estate Agents 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

Details of adjustments made on transition to FRS 102 are disclosed in the First Year Adoption note.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on a going concern basis, under the historical cost basis except for

the modification to a fair value basis where specified.

Since the year end the company has negotiated with its creditors and indications show the company will continue

to trade for the foreseeable future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover from a contract to provide services is recognised in the period in which the services are provided and in

accordance with the stage of completion of the contract at the balance sheet date.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost, 25% on cost and 10 - 25% on cost

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment

losses.

Cost includes purchase cost and other costs directly attributable to making the asset capable of operating as

intended.

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss, except to the

extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax balances are recognised in respect of timing differences that have originated but not reversed by the

balance sheet date.

Current and deferred tax are determined using tax rates and laws that have been enacted or substantively enacted

by the balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past

event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be

reliably estimated.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance

sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is

estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an

impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the

impairment loss is a revaluation decrease.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising

from impairment are recognised in profit or loss.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2016 - 16 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2016

86,484

Additions

725

Disposals

(28,917

)

At 31st March 2017

58,292

DEPRECIATION

At 1st April 2016

53,423

Charge for year

8,577

Eliminated on disposal

(23,495

)

At 31st March 2017

38,505

NET BOOK VALUE

At 31st March 2017

19,787

At 31st March 2016

33,061

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

10,434

2,380

Amounts recoverable on contract

80,000

126,500

Other debtors

12,788

16,058

103,222

144,938

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

20,232

19,287

Hire purchase contracts

4,617

9,788

Trade creditors

18,735

8,565

Taxation and social security

153,346

125,883

Other creditors

37,845

6,423

234,775

169,946

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

1,048

10,135

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

5,665

19,923

The hire purchase liabilities are secured on the underlying assets to which they relate.

10.	OTHER FINANCIAL COMMITMENTS

As at 31st March 2017 the company had total guarantees, contingencies and commitments of £59,184 (2016:

£73,980).

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st March 2017 and

31st March 2016:

2017

2016

£

£

A N Bone

Balance outstanding at start of year

5,077

(515

)

Amounts advanced

-

5,592

Amounts repaid

(3,494

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,583

5,077

12.	FIRST YEAR ADOPTION

This year is the first year the company has presented its results under FRS 102. The last financial statements

prepared under the previous UK GAAP were for the period ended 31st March 2016. The date of transition to

FRS 102 was 1st April 2015.

No material adjustments have been noted on transition to FRS 102.