Ahern Land Reclamation Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 01646149 (England and Wales)

Financial Statements for the Year Ended 31 October 2017

for

Ahern Land Reclamation Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L B Scott

P B Ahern

P R Scott

SECRETARY:

L B Scott

REGISTERED OFFICE:

106 Charter Avenue

Ilford

Essex

IG2 7AD

REGISTERED NUMBER:

01646149 (England and Wales)

AUDITORS:

Fredericks Limited

Chartered Accountants

Statutory Auditors

106 Charter Avenue

Ilford

Essex

IG2 7AD

SOLICITORS:

Kenneth Elliott & Rowe

18 Eastern Road

Romford

Essex

RM1 3PJ

FIXED ASSETS

Tangible assets

3

-

-

Investments

4

4,809,546

3,876,043

4,809,546

3,876,043

CURRENT ASSETS

Debtors

615,000

600,000

Cash at bank

80

-

615,080

600,000

CREDITORS

Amounts falling due within one year

583,020

569,619

NET CURRENT ASSETS

32,060

30,381

TOTAL ASSETS LESS CURRENT LIABILITIES

4,841,606

3,906,424

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

5

4,809,546

3,876,043

Retained earnings

32,058

30,379

SHAREHOLDERS' FUNDS

4,841,606

3,906,424

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 17 July 2018 and were signed on its behalf by:

P R Scott - Director

1.	STATUTORY INFORMATION

Ahern Land Reclamation 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.	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.

Preparation of consolidated financial statements

The financial statements contain information about Ahern Land Reclamation Limited as an individual company

and do not contain consolidated financial information as the parent of a group. The company has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other

factors,including expectations of future events that are believed to be reasonable under the circumstances.

a) Critical judgements in applying the entities accounting policies:

There are no specific judgements apart from those involving estimates as detailed below that management has

made in the process of applying the entities accounting policies that have a significant effect on the amounts

recognised in the financial statements.

b) Critical accounting estimates and assumptions:

The company makes estimates and assumptions concerning the future. The resulting accounting estimates can

differ from the related actual results. The estimates and assumptions that have a significant risk of causing a

material adjustment to the carrying amounts of the assets and liabilities within the next financial year are

addressed below:

(i) Useful economic lives of tangible assets.

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful lives and

residual values of the assets These are re-assessed annualy.They are amended when necessary to reflect any

estimated changes.

(ii) Impairment of debtors

The company makes an estimate of the recoverable amount of trade and other debtors. When assessing their

impairment, the management considers factors including the current credit rating of the debtor, the ageing profile

of debtors and historical experience.

Turnover

Turnover represents net invoiced value of goods sold and services rendered, excluding 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

-

10% on reducing balance

Fixed asset investments

The fixed asset investment is revalued annually by the directors. The directors value the investment based on the

net asset value of the investment.

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.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 November 2016

and 31 October 2017

1,588

DEPRECIATION

At 1 November 2016

and 31 October 2017

1,588

NET BOOK VALUE

At 31 October 2017

-

At 31 October 2016

-

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST OR VALUATION

At 1 November 2016

3,876,043

Revaluations

933,503

At 31 October 2017

4,809,546

NET BOOK VALUE

At 31 October 2017

4,809,546

At 31 October 2016

3,876,043

The directors have revalued the investment in Ingrebourne Valley Holdings Limited as at 31st October 2017.

The valuation is based upon the net asset value as shown in the accounts of Ingrebourne Valley Holdings Limited

at 30th June 2017. The directors believe they have been prudent in using this basis.

The accounting reference date for Ingrebourne Valley Limited is 30 June.

5.

RESERVES

Revaluation

reserve

£

At 1 November 2016

3,876,043

Investment revaluation

933,503

At 31 October 2017

4,809,546

6.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

S G Duker (Senior Statutory Auditor)

for and on behalf of Fredericks Limited

7.	RELATED PARTY DISCLOSURES

L B Scott, P B Ahern and P R Scott are directors of the ultimate holding company, P.F. Ahern & Sons Limited,

in which they have a material interest.

L B Scott, P B Ahern and P R Scott are directors of the associated undertaking, Ingrebourne Valley Holdings

Limited.

During the year the company received management charges totalling £610,000 (2016: £738,322) from

Ingrebourne Valley Holdings Limited. Ingrebourne Valley Holdings Limited owed the company £430,000 at the

balance sheet date in respect of these charges (2016 : £600,000).

The company was invoiced £Nil by the ultimate holding company (2016 : £Nil).

At the balance sheet date the amount due from P. F. Ahern (London) Limited was £4,030,106 (2016 :

£3,616,898) .

The sum of £4,491,206 was due to P. F. Ahern and Sons Limited at the year end (2016 : £4,001,206).

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the holding company, P F Ahern and Sons Limited by virtue of its 100%

shareholding. This company prepares consolidated financial statements. The Registered Office is located at 106

Charter Avenue, Ilford, Essex, IG2 7AD.