Stortview Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04241391 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2017

for

Stortview Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S J Revell

Mrs E G Revell

SECRETARY:

Mr S J Revell

REGISTERED OFFICE:

The Old Boardroom, Collett Road

Ware

Hertfordshire

SG12 7LR

REGISTERED NUMBER:

04241391 (England and Wales)

ACCOUNTANTS:

DSCO

The Old Boardroom

Collett Road

Ware

Hertfordshire

SG12 7LR

FIXED ASSETS

Tangible assets

4

806,669

809,405

CURRENT ASSETS

Debtors

5

71,359

76,163

Cash at bank

6,985

17,179

78,344

93,342

CREDITORS

Amounts falling due within one year

6

100,300

96,796

NET CURRENT LIABILITIES

(21,956

)

(3,454

)

TOTAL ASSETS LESS CURRENT LIABILITIES

784,713

805,951

CREDITORS

Amounts falling due after more than one year

7

(388,996

)

(424,793

)

PROVISIONS FOR LIABILITIES

10

(74,150

)

(78,424

)

NET ASSETS

321,567

302,734

CAPITAL AND RESERVES

Called up share capital

11

12

12

Non-distributable reserves

12

301,899

298,172

Retained earnings

12

19,656

4,550

SHAREHOLDERS' FUNDS

321,567

302,734

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 14 March 2018 and were signed on its behalf by:

Mr S J Revell - Director

1.	STATUTORY INFORMATION

Stortview 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.

Turnover

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

added tax and other sales taxes.

Investment property

The Freehold Property shown in note 5 is held as an Investment Property by the company. The Financial Reporting

Standard for Smaller Entities requires that an Investment Property is shown at its open market value at the Balance Sheet

date. As such no depreciation has been charged during the year. Whilst this is a departure from the requirements of the

Companies Act 2006, it is the correct treatment not to depreciate given that the true and fair overide takes precedence.

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 balance sheet date.

Deferred tax

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 1 September 2016

and 31 August 2017

790,000

54,931

844,931

DEPRECIATION

At 1 September 2016

-

35,526

35,526

Charge for year

-

2,736

2,736

At 31 August 2017

-

38,262

38,262

NET BOOK VALUE

At 31 August 2017

790,000

16,669

806,669

At 31 August 2016

790,000

19,405

809,405

Cost or valuation at 31 August 2017 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2004

185,000

-

185,000

Valuation in 2010

187,715

-

187,715

Cost

417,285

54,931

472,216

790,000

54,931

844,931

If Freehold Property had not been revalued it would have been included at the following historical cost:

31.8.17

31.8.16

£

£

Cost

417,285

417,285

Riverside House was valued on an open market basis on 31 March 2010 by Lloyds TSB Bank Plc .

5.

DEBTORS

31.8.17

31.8.16

£

£

Amounts falling due within one year:

Other debtors

7,616

7,616

Directors' current accounts

525

-

Prepayments

1,731

-

9,872

7,616

31.8.17

31.8.16

£

£

Amounts falling due after more than one year:

Other debtors > 1 year

61,487

68,547

Aggregate amounts

71,359

76,163

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Bank loans and overdrafts (see note 8)

44,333

44,333

Trade creditors

6,255

4,356

Tax

19,712

17,321

VAT

3,875

4,527

Other creditors

23,875

23,875

Directors' current accounts

-

134

Accrued expenses

2,250

2,250

100,300

96,796

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.17

31.8.16

£

£

Mortgage loans (see note 8)

388,996

424,793

Amounts falling due in more than five years:

Repayable by instalments

Bank loan >5 years

133,496

169,293

8.

LOANS

An analysis of the maturity of loans is given below:

31.8.17

31.8.16

£

£

Amounts falling due within one year or on demand:

Mortgage repayment

44,333

44,333

Amounts falling due between one and two years:

Bank loan 1-2 years

54,833

54,833

Amounts falling due between two and five years:

Bank loan 2-5 years

200,667

200,667

Amounts falling due in more than five years:

Repayable by instalments

Bank loan >5 years

133,496

169,293

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.17

31.8.16

£

£

Mortgage loans

433,329

469,126

The mortgage is secured by way of a First Legal Charge and a debenture over the freehold property.

10.	PROVISIONS FOR LIABILITIES

31.8.17

31.8.16

£

£

Deferred tax

74,150

78,424

Deferred

tax

£

Balance at 1 September 2016

78,424

Accelerated capital allowance

(547

)

Deferred tax movement on

(3,727

)

freehold property

Balance at 31 August 2017

74,150

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

£

12

Ordinary

£1

12

12

12.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

£

£

At 1 September 2016

4,550

298,172

302,722

Profit for the year

48,833

48,833

Dividends

(30,000

)

(30,000

)

Fair value transfer

(3,727

)

3,727

-

At 31 August 2017

19,656

301,899

321,555

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £30,000 were paid to the directors .

Maleon Limited

A Company under common control.

During the year the Company charged Maleon Limited rent of £69,400 (2016: £69,400) and service charges of £30,000

(2016: £30,000). As at 31st August 2017 the balance owed by Maleon Limited was £Nil (2016: £Nil). During the year the

Company incurred Management charges of £Nil from Maleon Limited (2016: £Nil).

The company also maintains an inter-company loan account with Maleon Limited. As at 31st August 2017 the company

was owed £69,103 by Maleon Limited (2016: £76,163).

Maleon Construction Project Safety Limited.

A Company under common control.

During the year the Company incurred Management charges of £Nil from Maleon Construction Project Safety Limited

(2016: £Nil). As at 31st August 2017 the Company owed £23,875 to Maleon Construction Project Safety Limited (2016:

£23,875).

14.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S J Revell.