The Family Officer Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07772247 (England and Wales)

Financial Statements for the Year Ended 30 December 2017

for

THE FAMILY OFFICER LIMITED

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

Mr M Cerri

REGISTERED OFFICE:

25 Hill Street

West Central

London

W1J 5LW

REGISTERED NUMBER:

07772247 (England and Wales)

ACCOUNTANTS:

BBK Partnership

Chartered Accountants

1 Beauchamp Court

10 Victors Way

Barnet

Hertfordshire

EN5 5TZ

FIXED ASSETS

Tangible assets

4

38,576

48,220

Investments

5

5,448,164

5,448,164

5,486,740

5,496,384

CURRENT ASSETS

Debtors

6

4,299,305

4,653,554

Cash at bank and in hand

10,144

30,013

4,309,449

4,683,567

CREDITORS

Amounts falling due within one year

7

619,338

552,762

NET CURRENT ASSETS

3,690,111

4,130,805

TOTAL ASSETS LESS CURRENT LIABILITIES

9,176,851

9,627,189

CREDITORS

Amounts falling due after more than one year

8

4,595,671

4,595,671

NET ASSETS

4,581,180

5,031,518

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

4,999,000

4,999,000

Retained earnings

(418,820

)

31,518

SHAREHOLDERS' FUNDS

4,581,180

5,031,518

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director on 28 September 2018 and were signed by:

Dr F R R Cerri - Director

1.	STATUTORY INFORMATION

The Family Officer 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.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - 5 ).

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 31 December 2016

and 30 December 2017

35,285

40,238

75,523

DEPRECIATION

At 31 December 2016

12,817

14,486

27,303

Charge for year

4,494

5,150

9,644

At 30 December 2017

17,311

19,636

36,947

NET BOOK VALUE

At 30 December 2017

17,974

20,602

38,576

At 30 December 2016

22,468

25,752

48,220

5.	FIXED ASSET INVESTMENTS

Shares in

group

Other

undertakings

investments

Totals

£

£

£

COST

At 31 December 2016

and 30 December 2017

9,000

5,439,164

5,448,164

NET BOOK VALUE

At 30 December 2017

9,000

5,439,164

5,448,164

At 30 December 2016

9,000

5,439,164

5,448,164

The amount of £1,185,532 for fixed asset investments consists of the following companies:

TFO Vikare (Dolce Vita Outlet) -75% holding

BPSE (UK) Limited - 100% holding

Commetal Holidng Limited- 50% holding

M & M Private Investments Limited -100% holding

MB Cactus Services Limited - 100% holding

Pangea advisors Limited- 30% holding

Synergies DMC Global Limited- 15% holding

TFO KJ & Co Limited- 50% holding

TFOSpecial Opportunities-36.83% holding

Shield Risk Management Limited- 80% holding

Kmera Limited-2.07% holding

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.17

30.12.16

£

£

Trade debtors

1,221,587

1,113,031

Other Debtors

1,570,647

1,570,647

Amounts owed by group undertakings

1,287,146

1,831,459

Directors' current accounts

78,977

-

VAT

9,597

7,066

Prepayments and accrued income

(60,000

)

(60,000

)

Prepayments

171,152

171,152

Rent deposit

20,199

20,199

4,299,305

4,653,554

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.12.17

30.12.16

£

£

Bank loans and overdrafts

57,288

30,256

Other loans

(39,917

)

-

Hire purchase contracts

18,486

24,002

Trade creditors

637,291

555,078

Social security and other taxes

(8,310

)

(11,074

)

Other creditors

(49,250

)

(49,250

)

Accrued expenses

3,750

3,750

619,338

552,762

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.12.17

30.12.16

£

£

Other creditors

4,595,671

4,595,671

9.	RELATED PARTY DISCLOSURES

The other creditors include a sum of £766,218.34 owed to the Director Mr M Cerri

Balance at Start of the Year: £861,290.83

Movement in Year: -£95,072.49

Balance at Year End: £766,218.34

The directors have indicated the amount will not be repaid within 12 months.