Ashberry Properties (North West) Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08090932 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2017

FOR

ASHBERRY PROPERTIES (NORTH WEST) LIMITED

Page

Company Information

1

Report of the Directors

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

7

DIRECTORS:

Mr J P Ash

Mrs L J Berry

REGISTERED OFFICE:

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

REGISTERED NUMBER:

08090932 (England and Wales)

ACCOUNTANTS:

Cadishead Accountancy Services Limited

Britannic House

657 Liverpool Road

Irlam

Manchester

Lancashire

M44 5XD

BANKERS:

Lloyds TSB

53 King Street

Manchester

M2 4LQ

The directors present their report with the financial statements of the company for the year ended 31st May 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the letting of residential property.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1st June 2016 to the date of

this report.

The beneficial interests of the directors holding office at 31st May 2017 in the shares of the company, according to the

register of directors' interests, were as follows:

31.5.17

1.6.16

Ordinary shares of £1 each

Mr J P Ash

1

1

Mrs L J Berry

1

1

These directors did not hold any non-beneficial interests in the shares of the company.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mr J P Ash - Director

8th January 2018

FIXED ASSETS

Investment property

4

300,000

270,000

300,000

270,000

CURRENT ASSETS

Debtors

5

833

658

Cash at bank

3,440

4,522

4,273

5,180

CREDITORS

Amounts falling due within one year

6

6,864

5,936

NET CURRENT LIABILITIES

(2,591

)

(756

)

TOTAL ASSETS LESS CURRENT LIABILITIES

297,409

269,244

CREDITORS

Amounts falling due after more than one year

7

224,470

229,752

NET ASSETS

72,939

39,492

CAPITAL AND RESERVES

Called up share capital

8

4

4

Fair value reserve

9

55,626

25,626

Retained earnings

9

17,309

13,862

SHAREHOLDERS' FUNDS

72,939

39,492

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

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

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.

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 Board of Directors on 8th January 2018 and were signed on its behalf by:

Mr J P Ash - Director

1.	STATUTORY INFORMATION

Ashberry Properties (North West) 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.

Turnover

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

value added tax and other sales taxes.

Investment property

The investment property has been revalued to reflect current fair value at year end

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 2 (2016 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st June 2016

270,000

Revaluations

30,000

At 31st May 2017

300,000

NET BOOK VALUE

At 31st May 2017

300,000

At 31st May 2016

270,000

Fair value at 31st May 2017 is represented by:

£

Valuation in 2017

300,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

712

528

Other debtors

121

130

833

658

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans and overdrafts

5,326

4,299

Taxation and social security

852

977

Other creditors

686

660

6,864

5,936

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Bank loans

154,715

159,997

Other creditors

69,755

69,755

224,470

229,752

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

129,061

135,977

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

4

Ordinary

£1

4

4

9.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1st June 2016

13,862

25,626

39,488

Profit for the year

3,447

3,447

Property Revaluation reserve

-

30,000

30,000

At 31st May 2017

17,309

55,626

72,935

10.	RELATED PARTY DISCLOSURES

Ash Residential Limited

A company controlled by Mr Ash

Ash Residential Limited managed the letting of properties on behalf of Ashberry Properties (North West) Ltd.

During the year Ash Residential Limited was paid a commission of £1185 (2016 £1384) for the services

provided.

11.	ULTIMATE CONTROLLING PARTY

The company was under the control of its directors for the whole year.