Pinedale Associates Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 09069602 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2017

FOR

PINEDALE ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mr M F Cox BSc FCA

Mr A J Durrani

REGISTERED OFFICE:

c/o Cox Costello & Horne

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

REGISTERED NUMBER:

09069602 (England and Wales)

ACCOUNTANTS:

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

FIXED ASSETS

Tangible assets

4

854

1,706

CURRENT ASSETS

Debtors

5

6,965

110,343

Investments

6

700,000

700,000

Cash at bank

4,594

3,823

711,559

814,166

CREDITORS

Amounts falling due within one year

7

732,111

855,019

NET CURRENT LIABILITIES

(20,552

)

(40,853

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,698

)

(39,147

)

CAPITAL AND RESERVES

Called up share capital

50,000

50,000

Retained earnings

(69,698

)

(89,147

)

SHAREHOLDERS' FUNDS

(19,698

)

(39,147

)

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

The members have not required the company to obtain an audit of its financial statements for the year 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors on 29 March 2018 and were signed on its behalf by:

Mr A J Durrani - Director

1.	STATUTORY INFORMATION

Pinedale 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

The financial statements have been prepared under the historical cost convention and in accordance with

Section 1A Small Entities of Financial Reporting Standard 102 The Financial Reporting Standard applicable in

the UK and the Republic of Ireland and the Companies Act 2006.

Transition to FRS 102

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

under UK GAAP were for the year ended 30 June 2016. The date of transition to FRS 102 was 1 July 2015.

There are no transitional adjustments arising from the first time adoption of FRS 102.

Going concern

The company meets its day-to-day working capital requirements through its bank facility. After making enquiries,

the directors have a reasonable expectation that the company has adequate resources to continue in operational

existence for the foreseeable future. The company therefore continues to adopt the going concern basis in

preparing its financial statements.

Turnover

Turnover comprises the rendering of services in the ordinary course of the company's activity. Turnover is

presented net of value-added tax. The company recognises turnover when the amount of revenue and related

costs can be reliably measured, it is probable that the collectability of the related receivables is reasonably

assured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

The following criteria must also be met before revenue is recognised:

Rendering of services

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

accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

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

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated

impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the

location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if

appropriate, or if there is an indication of a significant change since the last reporting date.

Financial instruments

a) Debtors

Basic financial assets, including investments, trade and other debtors, are initially recognised at transaction

price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried

at amortised cost using the effective interest method, less any impairment.

b) Cash and cash equivalents

Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and

other short-term highly liquid investments that mature in no more than three months from the date of acquisition

and that are readily convertible to known amounts of cash with insignificant risk of change in value.

c) Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related

parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction,

where the debt instrument is measured at the present value of the future payments discounted at a market rate

of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less

any impairment.

d) Interest income

Interest income is recognised in profit or loss using the effective interest method.

Taxation

The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised

as other comprehensive income or to an item recognised directly in equity is also recognised in other

comprehensive income or directly in equity respectively.

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

the balance sheet date, except that:

-

the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

-

any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2016

and 30 June 2017

1,706

DEPRECIATION

Charge for year

852

At 30 June 2017

852

NET BOOK VALUE

At 30 June 2017

854

At 30 June 2016

1,706

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Other debtors

6,965

110,343

6.	CURRENT ASSET INVESTMENTS

30.6.17

30.6.16

£

£

Unlisted investments

700,000

700,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

1

-

Amounts owed to participating interests

732,110

852,110

Taxation and social security

-

2,771

Other creditors

-

138

732,111

855,019

8.	ULTIMATE CONTROLLING PARTY

At the reporting date, the directors consider there is no ultimate controlling party. There has been no change

between the reporting date and date of approval of the financial statements.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Pinedale Associates Limited for the year ended 30 June 2017 which comprise the Profit and loss

account, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Pinedale Associates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pinedale Associates Limited and state those matters that we have agreed to state to the Board of Directors of Pinedale Associates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pinedale Associates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pinedale Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pinedale Associates Limited. You consider that Pinedale Associates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pinedale Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cox Costello & Horne

Chartered Accountants and Tax Advisors

4th & 5th Floor

14-15 Lower Grosvenor Place

London

SW1W 0EX

29 March 2018