Ivyhall Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04190524 (England and Wales)

IVYHALL LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2017

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

Mr A Breuer

Mrs S Breuer

SECRETARY:

Mrs S Breuer

REGISTERED OFFICE:

164 Osbaldeston Road

London

N16 6NJ

REGISTERED NUMBER:

04190524 (England and Wales)

ACCOUNTANTS:

Sugarwhite Meyer Accountants Ltd

First Floor

94 Stamford Hill

London

N16 6XS

FIXED ASSETS

Tangible assets

5

-

133

Investment property

6

1,695,000

667,141

1,695,000

667,274

CURRENT ASSETS

Debtors

7

250,095

257,001

CREDITORS

Amounts falling due within one year

8

114,196

93,752

NET CURRENT ASSETS

135,899

163,249

TOTAL ASSETS LESS CURRENT LIABILITIES

1,830,899

830,523

CREDITORS

Amounts falling due after more than one year

9

(283,104

)

(326,896

)

PROVISIONS FOR LIABILITIES

11

(136,560

)

-

NET ASSETS

1,411,235

503,627

CAPITAL AND RESERVES

Called up share capital

90

5

Fair value reserve

12

891,299

-

Retained earnings

519,846

503,622

SHAREHOLDERS' FUNDS

1,411,235

503,627

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 23 July 2018 and were signed on its behalf by:

Mr A Breuer - Director

1.	STATUTORY INFORMATION

Ivyhall Ltd 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.	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 on the historical cost basis, as modified to include

investment properties measured at fair value through profit or loss.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 July 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance

with UK GAAP, the date of transition to FRS 102 Section 1A is 1 August 2015.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements,

estimates and assumptions about the carrying amounts of assets and liabilities that are not readily

apparent from other sources. The estimates and associated assumptions are based on historical

experience and other factors that are considered to be relevant. The estimates and underlying

assumptions are reviewed on an ongoing basis.

Turnover

Turnover is recognised at the fair value of the consideration receivable in respect of services provided

in the normal course of business. The turnover of the company is represented by rents and charges

receivable in respect of the company's investment portfolio. Rental income is accounted for on an

accruals basis.

Tangible fixed assets

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

Office equipment

-

33.33% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially

recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value

are recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account, 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 1 ) .

5.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 August 2016

and 31 July 2017

400

DEPRECIATION

At 1 August 2016

267

Charge for year

133

At 31 July 2017

400

NET BOOK VALUE

At 31 July 2017

-

At 31 July 2016

133

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2016

667,141

Revaluations

1,027,859

At 31 July 2017

1,695,000

NET BOOK VALUE

At 31 July 2017

1,695,000

At 31 July 2016

667,141

The fair value of the investment properties has been arrived at on the basis of a valuation carried out

by the company's directors who have the experience and expertise required to undertake such an

exercise. The valuation was made on an open market value basis by reference to market evidence of

transaction prices for similar properties in the same location.

The historical cost of investment properties at 31 July 2017 is £667,141.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,503

3,285

Other debtors

247,592

253,716

250,095

257,001

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

49,976

52,568

Trade creditors

1,254

1,256

Taxation and social security

26,958

27,183

Other creditors

36,008

12,745

114,196

93,752

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

114,124

146,916

Other creditors

168,980

179,980

283,104

326,896

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years by instalments

-

17,716

10.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

146,724

179,216

The bank loans are secured by legal charges over the company's investment properties.

11.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

136,560

-

Deferred

tax

£

Charge to Profit and Loss Account during year

136,560

Balance at 31 July 2017

136,560

12.

RESERVES

Fair

value

reserve

£

Gains on fair value adjustment

1,027,859

Transfer deferred tax from retained earnings

(136,560

)

At 31 July 2017

891,299

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £35,000 were paid to the directors .

Included in other debtors is an amount of £49,513 (2016: £49,513) due from Daimler Estates Ltd and

£198,080 (2016: £198,880) due from Cornwillow Ltd, companies in which the directors of this company

are also directors.

The director Mr A Breuer has provided a personal guarantee on the secured bank loans, limited to

10% of the secured debt.

14.	FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102. The company transitioned to FRS

102 on 1 August 2015.

The following were changes in accounting policies arising from the transition to FRS 102:

Investment properties:

Previously, the company's investment properties were shown at market value, with aggregate surplus

or deficit being recorded in the revaluation reserve. Under FRS 102, these properties are shown at fair

value, with changes in fair value being recorded in the profit and loss account.

Deferred tax on unrealised investment property gains and losses:

Previously, no deferred tax was recognised on the timing differences between the accounting and tax

treatment of the revaluation of the company's investment property. Under FRS 102, deferred tax is

recognised on the difference between the cost for tax purposes and the fair value of the company's

investment properties, with movements recorded in the profit and loss account.