CANTERWELL INVESTMENTS LIMITED 31/12/2017 iXBRL

CANTERWELL INVESTMENTS LIMITED - Company Information

31/12/2017 2017-12-31 false false false false false false false false false false true false false true false false false false false true true false No description of principal activities is disclosed 2017-01-01 Sage Accounts Production 18.11 - FRS xbrli:pure xbrli:shares iso4217:GBP 03860988 2017-01-01 2017-12-31 03860988 2017-12-31 03860988 2016-12-31 03860988 2016-01-01 2016-12-31 03860988 2016-12-31 03860988 2015-12-31 03860988 core:FurnitureFittingsToolsEquipment 2017-01-01 2017-12-31 03860988 bus:RegisteredOffice 2017-01-01 2017-12-31 03860988 bus:LeadAgentIfApplicable 2017-01-01 2017-12-31 03860988 bus:Director1 2017-01-01 2017-12-31 03860988 bus:Director2 2017-01-01 2017-12-31 03860988 bus:CompanySecretary1 2017-01-01 2017-12-31 03860988 core:RevaluationReserve 2016-01-01 2016-12-31 03860988 core:RetainedEarningsAccumulatedLosses 2016-01-01 2016-12-31 03860988 core:RetainedEarningsAccumulatedLosses 2017-01-01 2017-12-31 03860988 core:WithinOneYear 2017-12-31 03860988 core:WithinOneYear 2016-12-31 03860988 core:AfterOneYear 2017-12-31 03860988 core:AfterOneYear 2016-12-31 03860988 core:ShareCapital 2017-12-31 03860988 core:ShareCapital 2016-12-31 03860988 core:RevaluationReserve 2017-12-31 03860988 core:RevaluationReserve 2016-12-31 03860988 core:RetainedEarningsAccumulatedLosses 2017-12-31 03860988 core:RetainedEarningsAccumulatedLosses 2016-12-31 03860988 core:ShareCapital 2015-12-31 03860988 core:RevaluationReserve 2015-12-31 03860988 core:RetainedEarningsAccumulatedLosses 2015-12-31 03860988 bus:Director1 2016-12-31 03860988 bus:Director1 2017-12-31 03860988 bus:Director2 2016-12-31 03860988 bus:Director2 2017-12-31 03860988 bus:Director1 2016-12-31 03860988 bus:Director2 2016-12-31 03860988 bus:Director1 2016-01-01 2016-12-31 03860988 bus:Director2 2016-01-01 2016-12-31 03860988 bus:SmallEntities 2017-01-01 2017-12-31 03860988 bus:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 03860988 bus:AbridgedAccounts 2017-01-01 2017-12-31 03860988 bus:SmallCompaniesRegimeForAccounts 2017-01-01 2017-12-31 03860988 bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 03860988 core:Associate1 2017-01-01 2017-12-31 03860988 core:Associate1 2016-01-01 2016-12-31 03860988 core:Associate2 2017-01-01 2017-12-31 03860988 core:Associate2 2016-01-01 2016-12-31

Statement of consent to prepare abridged financial statements

All of the members of CANTERWELL INVESTMENTS LIMITED have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2017 in accordance with Section 444(2A) of the Companies Act 2006.

Company registration number: 03860988

CANTERWELL INVESTMENTS LIMITED

Unaudited abridged financial statements

31 December 2017

CANTERWELL INVESTMENTS LIMITED

Contents

Directors and other information

Directors report

Abridged statement of comprehensive income

Abridged statement of financial position

Statement of changes in equity

Notes to the financial statements

CANTERWELL INVESTMENTS LIMITED

Directors and other information


	Directors	Dennis Anthony William Smith
		Julie Dawn Smith


	Secretary	Dennis Anthony William Smith


	Company number	03860988


	Registered office	121 Brownswall Road
		Sedgley
		West Midlands
		DY3 3NS


	Business address	1 Greenhall Court
		Wombourne
		West Midlands
		WV5 0AJ


	Accountants	Palmer Griffiths (Accountants) Limited
		121a Brownswall Road
		Sedgley
		Dudley
		West Midlands
		DY3 3NS




	Bankers	National Westminster Bank Plc
		11 Western Boulevard
		Bede Island
		LE2 7EJ

CANTERWELL INVESTMENTS LIMITED

Directors report

Year ended 31 December 2017

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2017.

Directors

The directors who served the company during the year were as follows:

Dennis Anthony William Smith

Julie Dawn Smith

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 07 September 2018 and signed on behalf of the board by:

Dennis Anthony William Smith

Director

CANTERWELL INVESTMENTS LIMITED

Abridged statement of comprehensive income

Year ended 31 December 2017

		2017	2016
	Note	£	£

Gross profit		33,026	23,068

Administrative expenses		( 21,846)	35,389
		_______	_______
Operating profit		11,180	58,457

Other interest receivable and similar income		2,037	-
Amounts written off investments		-	( 72,462)
Interest payable and similar expenses		( 10,857)	( 10,886)
		_______	_______
Profit/(loss) before taxation	4	2,360	( 24,891)

Tax on profit/(loss)		-	18,422
		_______	_______
Profit/(loss) for the financial year		2,360	( 6,469)
		_______	_______
Reclassification from revaluation reserve to profit and loss account		-	(53,000)
		_______	_______
Total comprehensive income for the year		2,360	( 59,469)
		_______	_______

All the activities of the company are from continuing operations.

CANTERWELL INVESTMENTS LIMITED

Abridged statement of financial position

31 December 2017

		2017		2016
	Note	£	£	£	£

Fixed assets
Tangible assets	5	357,329		357,505
		_______		_______
			357,329		357,505

Current assets
Debtors		15,711		80,220
Cash at bank and in hand		38,006		1,023
		_______		_______
		53,717		81,243
Creditors: amounts falling due
within one year		( 10,048)		( 10,112)
		_______		_______
Net current assets			43,669		71,131
			_______		_______
Total assets less current liabilities			400,998		428,636

Creditors: amounts falling due
after more than one year	6		( 182,973)		( 202,971)

Provisions for liabilities			( 12,078)		( 12,078)

			_______		_______
Net assets			205,947		213,587
			_______		_______

Capital and reserves
Called up share capital			2		2
Revaluation reserve			99,500		99,500
Profit and loss account			106,445		114,085
			_______		_______
Shareholders funds			205,947		213,587
			_______		_______

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements were approved by the board of directors and authorised for issue on 07 September 2018 , and are signed on behalf of the board by:

Dennis Anthony William Smith

Director

CANTERWELL INVESTMENTS LIMITED

Statement of changes in equity

Year ended 31 December 2017

	Called up share capital	Revaluation reserve	Profit and loss account	Total
	£	£	£	£


At 1 January 2016	2	152,500	130,554	283,056

Profit/(loss) for the year			( 6,469)	( 6,469)
Other comprehensive income for the year:
Reclassification from revaluation reserve to profit and loss account		(53,000)	-	(53,000)
	_______	_______	_______	_______
Total comprehensive income for the year	-	( 53,000)	( 6,469)	( 59,469)

Dividends paid and payable			( 10,000)	( 10,000)
	_______	_______	_______	_______
Total investments by and distributions to owners	-	-	( 10,000)	( 10,000)

	_______	_______	_______	_______
At 31 December 2016 and 1 January 2017	2	99,500	114,085	213,587

Profit/(loss) for the year			2,360	2,360
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	2,360	2,360

Dividends paid and payable			( 10,000)	( 10,000)
	_______	_______	_______	_______
Total investments by and distributions to owners	-	-	( 10,000)	( 10,000)

	_______	_______	_______	_______
At 31 December 2017	2	99,500	106,445	205,947
	_______	_______	_______	_______

CANTERWELL INVESTMENTS LIMITED

Notes to the financial statements

Year ended 31 December 2017

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is 121 Brownswall Road, Sedgley, West Midlands, DY3 3NS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Fittings fixtures and equipment	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties.

4. Profit/loss before taxation

Profit/loss before taxation is stated after charging/(crediting):

	2017	2016
	£	£
Depreciation of tangible assets	176	236
Cross company guarrantee payment	-	52,542
	_______	_______

5. Tangible assets


		£
	Cost
	At 1 January 2017 and 31 December 2017	360,665
		_______
	Depreciation
	At 1 January 2017	3,160
	Charge for the year	176
		_______
	At 31 December 2017	3,336
		_______
	Carrying amount
	At 31 December 2017	357,329
		_______
	At 31 December 2016	357,505
		_______

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:


		£
	At 31 December 2017
	Aggregate cost	231,760
	Aggregate depreciation	-
		_______
	Carrying amount	231,760
		_______

	At 31 December 2016
	Aggregate cost	231,760
	Aggregate depreciation	-
		_______
	Carrying amount	231,760
		_______

Individual properties revalued in May 2013 and April 2014.

6. Creditors: amounts falling due after more than one year

Bank loan secured by mortgage over the Freehold Property.

Included within creditors: amounts falling due after more than one year is an amount of £ 182,293 (2016 £ 202,971 ) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.

The loan is a interest only mortgage with repayments being made at the discretion of the directors.

7. Directors advances, credits and guarantees

	During the year the directors entered into the following advances and credits with the company:

2017
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Dennis Anthony William Smith	38,180	10,531	( 50,011)	( 1,300)
	Julie Dawn Smith	38,180	10,531	( 50,011)	( 1,300)
		_______	_______	_______	_______
		76,360	21,062	( 100,022)	( 2,600)
		_______	_______	_______	_______

2016
		Balance brought forward	Advances /(credits) to the directors	Amounts repaid	Balance o/standing
		£	£	£	£
	Dennis Anthony William Smith	-	40,270	( 2,090)	38,180
	Julie Dawn Smith	-	40,270	( 2,090)	38,180
		_______	_______	_______	_______
		-	80,540	( 4,180)	76,360
		_______	_______	_______	_______

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value
	2017	2016
	£	£
Cross guarrantee payment	-	52,542
Associated company loan account W/O	-	19,920
	_______	_______

Associated company in liquidation.