Amber Valley Memorial Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08749441 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

AMBER VALLEY MEMORIAL LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M A Hackney

Mr H O P Hodgson

Mr J Hodgson

REGISTERED OFFICE:

Seebeck House 1 Seebeck Place

Knowlhill

Milton Keynes

Buckinghamshire

MK5 8FR

REGISTERED NUMBER:

08749441 (England and Wales)

ACCOUNTANTS:

FLB Accountants LLP

Chartered Accountants & Registered Auditors

42 King Edward Court

Windsor

Berkshire

SL4 1TG

FIXED ASSETS

Tangible assets

5

3,630,735

3,724,059

CURRENT ASSETS

Stocks

285

914

Debtors

6

540,522

108,123

Cash at bank and in hand

18,422

304,767

559,229

413,804

CREDITORS

Amounts falling due within one year

7

(154,732

)

(122,289

)

NET CURRENT ASSETS

404,497

291,515

TOTAL ASSETS LESS CURRENT LIABILITIES

4,035,232

4,015,574

CREDITORS

Amounts falling due after more than one year

8

(1,231,909

)

(1,327,632

)

PROVISIONS FOR LIABILITIES

(63,587

)

(32,902

)

NET ASSETS

2,739,736

2,655,040

CAPITAL AND RESERVES

Called up share capital

41,635

41,635

Share premium

2,539,357

2,539,357

Retained earnings

158,744

74,048

SHAREHOLDERS' FUNDS

2,739,736

2,655,040

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and authorised for issue by the Board of Directors on 29 March 2018 and were signed on its behalf by:

Mr M A Hackney - Director

1.	STATUTORY INFORMATION

Amber Valley Memorial 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

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

rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

2.87% on cost

Sound system

20% on cost

Fixtures and fittings

10% on cost

Office equipment

33% on cost

Cremator

6.67% on cost

Roads

2% on cost

Capitalised costs relating to the acquisition of land are considered to have an unlimited useful

economic life and therefore are not depreciated.

The company adopted a policy of capitalising borrowing costs that are directly attributable to the

acquisition, construction or production of a qualifying asset as part of the cost of that asset.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Deferred tax

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

the balance sheet date where transactions or events have occurred at the date that will result in an

obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions.

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of

fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets,

only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets

concerned. However, no provision is made where, on the basis of all available evidence at the balance

sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets

and charged to tax only where the replacement assets are sold.

Deferred tax (continued)

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely

than not that there will be suitable taxable profits from which the future reversal of the underlying timing

differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the

periods in which timing differences reverse, based on tax rates and laws enacted or substantively

enacted at the balance sheet date.

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 accounts receivable and payable, loans from banks

and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments like loans and other accounts receivable and payable are initially measured at

present value of the future payments and subsequently at amortised cost using the effective interest

method. Debt instruments that are payable or receivable within one year, typically trade payables or

receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other

consideration expected to be paid or received. However if the arrangements of a short-term instrument

constitute a financial transaction, like the payment of a trade debt deferred beyond normal business

terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan

not at market rate, the financial asset or liability is measured, initially and subsequently, at the present

value of the future payments discounted at a market rate of interest for a similar debt instrument.

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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference

between an asset's carrying amount and the present value of estimated cash flows discounted at the

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate

for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the

difference between an asset's carrying amount and the best estimate, which is an approximation, of

the amount that the company would receive for the asset if it were to be sold at the reporting date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2017

2,632,810

1,334,980

3,967,790

Additions

5,152

26,293

31,445

At 31 December 2017

2,637,962

1,361,273

3,999,235

DEPRECIATION

At 1 January 2017

102,379

141,352

243,731

Charge for year

51,942

72,827

124,769

At 31 December 2017

154,321

214,179

368,500

NET BOOK VALUE

At 31 December 2017

2,483,641

1,147,094

3,630,735

At 31 December 2016

2,530,431

1,193,628

3,724,059

Included in cost of land and buildings is freehold land of £ 819,980 (2016 - £ 819,980 ) which is not

depreciated.

Included in cost of land and buildings are capitalised borrowing costs in relation to arrangement fees

on a bank loan. Total capitalised borrowing costs amount to £22,500.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

72,677

45,168

Amounts owed by group undertakings

395,000

-

Other debtors

72,845

62,955

540,522

108,123

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

94,670

50,667

Trade creditors

24,577

23,609

Taxation and social security

2,085

4,048

Other creditors

33,400

43,965

154,732

122,289

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

1,231,909

1,327,632

2017

2016

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due in more than 5 years by instalments

853,228

1,124,965

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank Loan

1,326,580

1,378,298

National Westminster Bank PLC holds fixed and floating charges dating 23 September 2014 covering

all the property or undertaking of the company. In addition, the bank, by way of legal mortgage, holds

fixed charge dating 26 September 2014 over all legal interest in land on East side of Derby Road,

Alfreton - registered title number DY482168. All outstanding charges contain a negative pledge.

10.	RELATED PARTY DISCLOSURES

On 24 January 2017 the company provided a guarantee to National Westminster Bank PLC for the

liabilities of Memoria limited, the ultimate parent company, with a limit of £3.1 million.

11.	ULTIMATE CONTROLLING PARTY

The immediate and the ultimate parent undertaking is Memoria Limited, a company incorporated in

England and Wales.

The directors of Memoria Limited are considered to be the ultimate controlling party.