AKEHURST_HOMES_LIMITED - Accounts

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

Akehurst Homes Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Claremont Gardens, Tunbridge Wells, Kent, TN2 5DD.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements for the year ended 30 June 2017 are the first financial statements of Akehurst Homes Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 July 2015. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note .

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

Work in progress is valued at lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

The tax expense represents the sum of the tax currently payable and deferred tax.

Investments relate to subsidiaries and are valued at cost.

Akehurst Design and Build Limited

Joint venture

During the year, the company provided services totalling £9,844 (2016 - £563,921) to Akehurst Design and Build Limited.

As a the balance sheet date, the company was owed £135,400 (2016 - £124,283) by Akehurst Design and Build Limited, this balance is included within other debtors.

Akehurst Homes (Holt) Limited

A subsidiary company

As a the balance sheet date, the company owed £514,079 (2016 - £Nil) by Akehurst Homes (Holt) Limited, this balance is included within other creditors.

Akehurst (Lenham) Limited

A subsidiary company

As a the balance sheet date, the company was owed £Nil (2016 - £1,978) by Akehurst (Lenham) Limited, this balance is included within other debtors.

Akehurst Gold (BYG) LLP

An LLP in which Akehurst Homes Limited is a member

As a the balance sheet date, the company was owed £40,085 (2016 - £38,033) by Akehurst Gold (BYG) LLP, this balance is included within other debtors.

Marsh View Management Limited

A company in which J Lench is also a director

As a the balance sheet date, the company was owed £341 (2016 - £13) by Marsh View Management Limited, this balance is included within other debtors.

Nobles Wood Residents Management Company Limited

A company in which J Lench is also a director

As a the balance sheet date, the company was owed £335 (2016 - £Nil) by Nobles Wood Residents Management Company Limited, this balance is included within other debtors.

Clarence Homes Limited

A company in which J Lench is also a director

During the year, the company received services totalling £288,331 (2016 - £258,326), from Clarence Homes Limited

As a the balance sheet date, the company was owed £76,653 (2016 - £1,137) by Clarence Homes Limited, this balance is included within other debtors.