Philbourne Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01137034 (England and Wales)

PHILBOURNE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Strowlger

W R S Creer

D Johnson

M J Gilpin

S D Barker

A R M Eitel

SECRETARY:

W R S Creer

REGISTERED OFFICE:

Station House

North Street

Havant

Hampshire

PO9 1QU

REGISTERED NUMBER:

01137034 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Tangible assets

3

31,524

31,524

CURRENT ASSETS

Debtors

4

564

583

Cash at bank and in hand

30,543

37,562

31,107

38,145

CREDITORS

Amounts falling due within one year

5

1,248

1,228

NET CURRENT ASSETS

29,859

36,917

TOTAL ASSETS LESS CURRENT LIABILITIES

61,383

68,441

CREDITORS

Amounts falling due after more than one year

6

51,100

51,100

NET ASSETS

10,283

17,341

CAPITAL AND RESERVES

Called up share capital

50

50

Other reserves

10,233

17,291

SHAREHOLDERS' FUNDS

10,283

17,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 21 September 2018 and were signed on its behalf by:

M J Gilpin - Director

1.	STATUTORY INFORMATION

Philbourne 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 represents the amount of ground rents and service charges receivable which are in

accordance with resolutions proposed at the last annual general meeting.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable, loans from banks

and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised

cost using the effective interest method, less any impairment

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other

short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are

shown within borrowings or current liabilities.

Trade and other creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities, including

bank loans, are measured initially at fair value, net of transaction costs, and are measured

subsequently at amortised cost using the effective interest method

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 July 2017

and 30 June 2018

31,524

NET BOOK VALUE

At 30 June 2018

31,524

At 30 June 2017

31,524

The property comprises interests in the deckhouse estate acquired in 1984 and subsequently through

the Superior Land Interest Scheme:

£

£

Freehold, subject to head-lease

17,600

Leasehold: 43 parts of head-lease

63,657

Less

Consideration received (less costs)

for variations of 40 sub-leases

49,733

13,924

31,524

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

564

583

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

-

16

Other creditors

1,248

1,212

1,248

1,228

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

51,100

51,100

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Members' loans

28,310

28,310

Members' loans

22,790

22,790

51,100

51,100

7.	ULTIMATE CONTROLLING PARTY

The company is not under the control of another entity or any individual.