Alan Batt Estate Agents Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 02443558 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 AUGUST 2016 TO 30 JULY 2017

FOR

ALAN BATT ESTATE AGENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr A P Batt

SECRETARY:

Mrs B Batt

REGISTERED OFFICE:

78 Market Street

Wigan

Lancashire

WN1 1HX

REGISTERED NUMBER:

02443558 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

44,957

50,937

44,957

50,937

CURRENT ASSETS

Debtors

6

109,156

78,163

Cash in hand

-

198

109,156

78,361

CREDITORS

Amounts falling due within one year

7

146,842

98,492

NET CURRENT LIABILITIES

(37,686

)

(20,131

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,271

30,806

CREDITORS

Amounts falling due after more than one year

8

(1,373

)

(25,434

)

PROVISIONS FOR LIABILITIES

(5,770

)

(5,225

)

NET ASSETS

128

147

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

28

47

SHAREHOLDERS' FUNDS

128

147

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 July 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 24 July 2018 and were signed by:

Mr A P Batt - Director

1.	STATUTORY INFORMATION

Alan Batt Estate Agents 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.

These are the first financial statements the Company has prepared in accordance with Financial

Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of

Ireland'' (FRS 102) as applied to smaller entities by the adoption of Section 1A of FRS 102. The

financial statements for the year ended 31 July 2016 were prepared in accordance with Financial

Reporting Standard for Smaller Entities (effective January 2015) (FRSSE).

Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and

accounting policy choices differ from the FRSSE. Consequently the directors have amended certain

accounting policies to comply with FRS 102. The directors have also taken advantage of certain

exemptions from the requirements of FRS 102 permitted by FRS 102 Chapter 35 ''Transition to FRS''.

There are no changes in the prior period on transition to FRS 102 as the directors consider them to be

immaterial to financial statements.

Turnover

Turnover represents net invoiced fees and commissions, excluding VAT.

Goodwill

The value of goodwill has been written off completely in prior years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on reducing balance

Financial instruments

FINANCIAL ASSETS

Trade, group and other debtors

Trade, group and other debtors (including accrued income) which are receivable within one year and

which do not constitute a financing transaction are initially measured at the transaction price and

subsequently measured at amortised cost, being the transaction price less any amounts settled and

any impairment losses.

A provision for impairment of trade debtors is established where there is objective evidence that the

amounts due will not be collected according to the original terms of the contract. Impairment losses

are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present

value of the future cash flows discounted using the original effective interest rate. Subsequent

reversals of an impairment loss that objectively relate to an event occurring after the impairment loss

was recognised, are recognised immediately in profit or loss.

FINANCIAL LIABILITIES

Trade, group and other creditors

Trade, group and other creditors (including accruals) payable within one year that do not constitute a

financing transaction are initially measured at the transaction price and subsequently measured at

amortised cost, being transaction price less any amounts settled.

Derecognition of financial assets and liabilities

A financial asset is only derecognised when the contractual rights to cash flows expire or are settled, or

substantially all the risks and rewards of ownership are transferred to another party, or if some

significant risks and rewards of ownership are retained but control of the asset has transferred to

another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability

(or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled

or expires.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

All leases are operating leases and annual rentals are charged to profit or loss on a straight-line basis

over the lease term.

Rent free periods or other incentives received for entering into an operating lease are accounted for as

a reduction to the expense and are recognised on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits

Employees are entitled to carry forward any unused holiday entitlement at the balance sheet date. The

cost of any unused entitlement is recognised in the period in which the employees' services are

received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 13 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2016

and 30 July 2017

12,000

AMORTISATION

At 1 August 2016

and 30 July 2017

12,000

NET BOOK VALUE

At 30 July 2017

-

At 31 July 2016

-

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2016

4,289

85,319

23,779

92,090

205,477

Additions

-

2,241

-

-

2,241

At 30 July 2017

4,289

87,560

23,779

92,090

207,718

DEPRECIATION

At 1 August 2016

3,639

60,453

13,078

77,370

154,540

Charge for period

650

2,487

2,140

2,944

8,221

At 30 July 2017

4,289

62,940

15,218

80,314

162,761

NET BOOK VALUE

At 30 July 2017

-

24,620

8,561

11,776

44,957

At 31 July 2016

650

24,866

10,701

14,720

50,937

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 August 2016

and 30 July 2017

23,779

DEPRECIATION

At 1 August 2016

13,746

Charge for period

2,140

At 30 July 2017

15,886

NET BOOK VALUE

At 30 July 2017

7,893

At 31 July 2016

10,033

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/7/17

31/7/16

£

£

Trade debtors

3,148

7,387

Other debtors

500

18,098

Directors' current accounts

78,472

41,927

Tax

23,376

7,091

Prepayments

3,660

3,660

109,156

78,163

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/7/17

31/7/16

£

£

Bank loans and overdrafts

20,718

13,986

Hire purchase contracts (see note 9)

12,589

2,953

Trade creditors

5,325

2,281

Taxation

18,669

6,842

Social security and other taxes

2,498

3,388

VAT

13,622

18,417

Other creditors

62,010

39,822

Accrued expenses

11,411

10,803

146,842

98,492

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30/7/17

31/7/16

£

£

Bank loans - 1-2 years

1,373

10,735

Bank loans - 2-5 years

-

1,372

Hire purchase contracts (see note 9)

-

13,327

1,373

25,434

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30/7/17

31/7/16

£

£

Net obligations repayable:

Within one year

12,589

2,953

Between one and five years

-

13,327

12,589

16,280

Non-cancellable

operating leases

30/7/17

31/7/16

£

£

Within one year

3,894

3,894

Between one and five years

2,271

6,165

6,165

10,059

10.	SECURED DEBTS

The following secured debts are included within creditors:

30/7/17

31/7/16

£

£

Bank overdrafts

9,983

3,251

Bank loans

12,108

22,842

Hire purchase contracts

12,589

16,280

34,680

42,373

The bank loans are secured by a fixed and floating charge over the assets of the company.

Hire purchase contracts are secured on the assets to which they relate.

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 July 2017 and

the year ended 31 July 2016:

30/7/17

31/7/16

£

£

Mr A P Batt

Balance outstanding at start of period

41,927

42,568

Amounts advanced

65,381

56,385

Amounts repaid

(28,836

)

(57,026

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

78,472

41,927

12.	RELATED PARTY DISCLOSURES

Alan Batt Rentals Limited

A company in which Mr A P Batt is a director and shareholder

30/7/17

31/7/16

£

£

Amount due (to)/from related party at the balance sheet date

(9,769

)

18,098

Mr A P Batt

Director of the company

During the year a dividend of £5,100 was paid to the director.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A P Batt.