DRCT (PHPH) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10206541 (England and Wales)

Unaudited Financial Statements

for the Period 31 May 2016 to 30 June 2017

for

DRCT (PHPH) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D R Cameron

R Thompson

REGISTERED OFFICE:

5 Clayton Court

Duke Street

Chester

Cheshire

CH1 1NE

REGISTERED NUMBER:

10206541 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

CURRENT ASSETS

Debtors: amounts falling due after more than one year

4

11,162,298

CREDITORS

Amounts falling due within one year

5

1,500

NET CURRENT ASSETS

11,160,798

TOTAL ASSETS LESS CURRENT LIABILITIES

11,160,798

CREDITORS

Amounts falling due after more than one year

6

11,166,221

NET LIABILITIES

(5,423

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(5,424

)

(5,423

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 23 February 2018 and were signed on its behalf by:

R Thompson - Director

1.	STATUTORY INFORMATION

DRCT (PHPH) Ltd 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.	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.

Taxation

Taxation for the period 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 period 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.

Investments in joint ventures

Investments in joint venture entities are held at cost less accumulated impairment losses and are shown within

"Amounts owed by joint ventures" within debtors. Amounts owed by joint ventures are initially recognised at fair

value and subsequently at amortised cost using the effective interest rate method.

The company's share of the net profit or loss in the year of the joint venture partner is shown as "income/expense

from participating interests" in the income statement.

Share capital

Ordinary shares are classed as equity.

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 the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are

shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Amounts owed by joint ventures

11,162,298

Amounts owed by joint ventures relates to a loan to PH Alderley Park LLP of which DRCT (PHPH) Ltd is a

designated member. The loan is secured by way of fixed assets over land held by the partnership and attracts no

interest until 31 December 2018 and 7% thereafter. The loan is due for repayment on 31 August 2019.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Accrued expenses

1,500

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Loan from director shareholder

11,166,221

The director and shareholder has provided an interest free loan facility to the company of up to £17,000,000

which is repayable in full on 14 September 2019.