Latimer Associates (U.K) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03421996 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

Latimer Associates (U.K) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C W Keech

D Keech

M Keech

REGISTERED OFFICE:

1st Floor

181 Queensway

Bletchley

Milton Keynes

MK2 2DZ

REGISTERED NUMBER:

03421996 (England and Wales)

ACCOUNTANTS:

Shipleys LLP

Chartered Accountants

10 Orange Street

London

WC2H 7DQ

FIXED ASSETS

Tangible assets

3

332

476

CURRENT ASSETS

Debtors

4

10,617,511

9,970,036

Cash in hand

512

172

10,618,023

9,970,208

CREDITORS

Amounts falling due within one year

5

1,466,373

745,232

NET CURRENT ASSETS

9,151,650

9,224,976

TOTAL ASSETS LESS CURRENT
LIABILITIES

9,151,982

9,225,452

CREDITORS

Amounts falling due after more than one
year

6

22,147,196

22,123,879

NET LIABILITIES

(12,995,214

)

(12,898,427

)

CAPITAL AND RESERVES

Called up share capital

120,000

Share premium

80,000

Retained earnings

(13,195,214

)

(13,098,427

)

SHAREHOLDERS' FUNDS

(12,995,214

)

(12,898,427

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 27 April 2018 and were signed on its behalf by:

D Keech - Director

1.	STATUTORY INFORMATION

Latimer Associates (U.K) 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.

TURNOVER

Turnover relates to the provision of management services and is stated net of value added tax.

TANGIBLE FIXED ASSETS

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

Plant and machinery etc

-

33% on cost

GOING CONCERN

These financial statements have been prepared on the basis that the company is a going concern but reference

should be made to the Note on Financial Commitments.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

and 31 July 2017

13,140

DEPRECIATION

At 1 August 2016

12,664

Charge for year

144

At 31 July 2017

12,808

NET BOOK VALUE

At 31 July 2017

332

At 31 July 2016

476

4.

DEBTORS

31.7.17

31.7.16

£

Amounts falling due within one year:

Other debtors

293,691

293,610

Amounts falling due after more than one year:

Other debtors

10,323,820

9,676,426

Aggregate amounts

10,617,511

9,970,036

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

Trade creditors

73,339

17,799

Taxation and social security

46,119

35,578

Other creditors

1,346,915

691,855

1,466,373

745,232

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.7.17

31.7.16

£

Other creditors

22,147,196

22,123,879

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The Director Mr D Keech owed the company £81,277 (2016: £81,196) as at the balance sheet date.

8.	RELATED PARTY DISCLOSURES

Latimer Land Management Limited

A company in which M D Keech, C W Keech, and D Keech were directors at the year end.

Loans have been received from Latimer Land Management Limited. The balance outstanding at the year end was

£578,598 (2016: £578.598) and is included in other creditors.

Latimer Land (Luton) Limited

A company in which M D Keech, C W Keech, and D Keech were directors at the year end.

Included in turnover are fees of £540,000 (2016: £540,000) which have been invoiced to Latimer Land (Luton)

Limited.

Loans have been made to Latimer Land (Luton) Limited of £10,323,820 (2016: £9,676,426). These are included

in other debtors.

Pedralbes Limited

A company in which M D Keech, C W Keech, and D Keech were directors at the year end.

Included in turnover are fees of £368,000 (2016: £368,000) which have been invoiced to Pedralbes Limited.

Loans have been received from Pedralbes Limited. The balance outstanding at the year end was £14,201,807

(2016: £14,649,417) and is included in other creditors.

Willdav Engineering SA

A company in which D Keech is a director at the year end.

During the year a loan was received from Willdav Engineering SA (incorporated in Switzerland).

Interest of £24,500 (2016: £24,500) was charged in the year.

The balance due to Willdav Engineering at the year end was £700,000 (2016: £700,000) and is included in other

creditors.

Latimer Land (Braintree) Limited

A company in which M D Keech, C W Keech, and D Keech were directors at the year end.

Loans have been received from Latimer Land (Braintree) Ltd. The balance outstanding at the year end was

£1,216,046 (2016: £1,216,046) and is included in other creditors.

Latimer Land (Stroud) Limited

A company in which M D Keech, C W Keech, and D Keech were directors at the year end.

Loans have been received from Latimer Land (Stroud) Limited. The balance outstanding at the year end was

£121,546 (2016: £121,546) and is included in other creditors.

JFB Management Limited

A company in which D Keech is a director.

During the year loans were received from JFB Management Limited to the value of £470,926 (2016: £550,201)

in respect of expenses paid.

A balance of £5,329,181 (2016: £4,858,255) remained outstanding at the year end. This balance is included in

other creditors.

9.	ULTIMATE CONTROLLING PARTY

The parent undertaking is Pedralbes Limited.

Willdav Engineering SA, a company incorporated in Switzerland, is regarded by the directors as being the

company's ultimate parent company.

Willdav Engineering SA is wholly owned by the Oliver Foundation, which is a foundation incorporated in

Panama.

10.	FINANCIAL COMMITMENTS AND GOING CONCERN

The directors have considered the going concern position of the company. They have concluded that the

company is a going concern because amounts included in other creditors are due to related companies, which

have given undertakings that repayments will not be sought until the company is in a position to make

repayments.

Latimer Associates (U.K) Limited - Accounts to registrar (filleted) - small 18.1

Latimer Associates (U.K) Limited - Accounts to registrar (filleted) - small 18.1