Arch House Associates Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03179968 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2017

FOR

ARCH HOUSE ASSOCIATES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M A Collins

Ms H A Condy

REGISTERED OFFICE:

3a Leigh Road

London

N5 1ST

REGISTERED NUMBER:

03179968 (England and Wales)

ACCOUNTANTS:

Accura Accountants Ltd

Langley House

Park Road

East Finchley

London

N2 8EY

FIXED ASSETS

Tangible assets

4

13,478

15,419

Investment property

5

750,000

921,667

763,478

937,086

CURRENT ASSETS

Cash at bank

1,796

2,339

CREDITORS

Amounts falling due within one year

6

53,963

35,814

NET CURRENT LIABILITIES

(52,167

)

(33,475

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

711,311

903,611

PROVISIONS FOR LIABILITIES

2,052

13,693

NET ASSETS

709,259

889,918

CAPITAL AND RESERVES

Called up share capital

7

100

Undistributable reserves

8

237,764

418,747

Retained earnings

8

471,395

471,071

SHAREHOLDERS' FUNDS

709,259

889,918

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 6 March 2018 and were signed on its behalf by:

M A Collins - Director

1.	STATUTORY INFORMATION

Arch House Associates 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.

The financial statements have been prepared on a going concern basis, the applicability of which is dependent

upon the continued support of the company's creditors and financiers. At the balance sheet date, the company's

current liabilities exceed its current assets by £52,167 (2016: £33,475) and the company made a loss of £3,186.

In the opinion of the director, the company has the support of its creditors and financiers for the foreseeable

future, and it is therefore considered appropriate to adopt the going concern policy.

Tangible fixed assets

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

life:

Improvements to property - 10% reducing balance method

Plant and machinery - 25% reducing balance method

Fixtures and fittings - 18% reducing balance method

Computer equipment - 33% reducing balance method

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficits arising from changes in

fair value is recognised in profit or loss.

This is a departure from the Companies Act which requires assets to be depreciated. However, in the opinion of

the directors, property is held primarily for their investment potential and so fair value is of more significance as

a measure of consumption. They therefore have applied a true and fair override with respect to investment

properties.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to

related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other

accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently

amortised cost using the effective interest method. Debt instruments that are payable or receivable within one

year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount

of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised

in the Statement of Comprehensive Income.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the

statement of financial position 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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks,

other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank

overdrafts are shown within borrowings in current liabilities.

Impairment

A review of indicators of impairment is carried out at each reporting date, with the recoverable amount being

estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is

impaired accordingly. Prior impairments are also reviewed for possible reversals at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the

recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the

smallest identifiable group of assets that includes the assets and generates cash inflows that are largely

independent of the cash inflows from other assets or group of assets.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

and 31 August 2017

62,062

DEPRECIATION

At 1 September 2016

46,643

Charge for year

1,941

At 31 August 2017

48,584

NET BOOK VALUE

At 31 August 2017

13,478

At 31 August 2016

15,419

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2016

921,667

Additions

20,578

Revaluations

(192,245

)

At 31 August 2017

750,000

NET BOOK VALUE

At 31 August 2017

750,000

At 31 August 2016

921,667

The property is included in the accounts at the director's valuation. Investment property was valued on fair value

basis on 13 December 2017.

Fair value at 31 August 2017 is represented by:

£

Valuation in 2014

132,190

Valuation in 2016

205,603

Valuation in 2017

(171,667

)

Cost

583,874

750,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

Other creditors

53,963

35,814

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

100

Ordinary

£1

100

8.

RESERVES

Retained

Undistributable

earnings

reserves

Totals

£

At 1 September 2016

471,071

418,747

889,818

Deficit for the year

(180,658

)

(180,658

)

Investment property

180,982

(180,983

)

(1

)

At 31 August 2017

471,395

237,764

709,159

Within the reserves is an amount of £237,764. This represents the fair value adjustment of the investment

properties and the deferred tax. FRS 102 requires that the changes in fair value be recognised in the profit and

loss, but that the fair value gains cannot be distributed to the shareholders as a dividend.

Deferred tax of £nil (2016: £11,263) has been provided on the investment property in accordance with the

requirements of FRS 102 section 1A based on the potential capital gains tax payable if the properties were to be

disposed of at a fair value.

9.	FIRST YEAR ADOPTION

Arch House Associates Limited prepared its first financial statements that comply with FRS 102 Section 1A for

the year ended 31 August 2017. Arch House Associates Limited's date of transition to FRS 102 is 1 September

2015. For the entity, the transition and first time adoption to FRS 102 Section 1A from UK GAAP has resulted in

a number of retrospective changes in accounting policies compared to those used previously, regarding deferred

tax and fair value adjustments to investment properties.

Arch House Associates Limited - Accounts to registrar (filleted) - small 17.3

Arch House Associates Limited - Accounts to registrar (filleted) - small 17.3