AHE Properties Ltd Company Accounts

AHE PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07868643

AHE Properties Ltd

Filleted Unaudited Financial Statements

31 December 2017

AHE Properties Ltd

Financial Statements

Year ended 31 December 2017

Contents	Page

Accountants report to the director on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

AHE Properties Ltd

Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of AHE Properties Ltd

Year ended 31 December 2017

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 December 2017, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

CLIVE ATKINS & CO LIMITED Accountants

AVC House 21 Northampton Lane Swansea SA1 4EH

24 September 2018

AHE Properties Ltd

Statement of Financial Position

31 December 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	4		404,248	404,248

Current assets

Cash at bank and in hand	16,760		13,221

Creditors: amounts falling due within one year	5	91,870		110,464
		--------		---------
Net current liabilities			75,110	97,243
			---------	---------
Total assets less current liabilities			329,138	307,005

Creditors: amounts falling due after more than one year	6	150,696	166,969
		---------	---------
Net assets		178,442	140,036
		---------	---------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	25,000	25,000
Profit and loss account	153,342	114,936
	---------	---------
Shareholders funds	178,442	140,036
	---------	---------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

AHE Properties Ltd

Statement of Financial Position (continued)

31 December 2017

These financial statements were approved by the board of directors and authorised for issue on 24 September 2018 , and are signed on behalf of the board by:

Mr A H Evans
Director

Company registration number: 07868643

AHE Properties Ltd

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 and Wales. The address of the registered office is AVC House, 21 Northampton Lane, Swansea, SA1 4EH.

2. Statement of compliance

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

Revenue recognition

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investment property

Investment property 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. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

Impairment of fixed assets

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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 January 2017 and 31 December 2017	404,248
	---------
Depreciation
At 1 January 2017 and 31 December 2017	–
	---------
Carrying amount
At 31 December 2017	404,248
	---------
At 31 December 2016	404,248
	---------

Tangible assets held at valuation

Mr Evans who is a director of the company undertook the valuation to open market value and in his opinion the market values are as above

5. Creditors: amounts falling due within one year

	2017	2016
	£	£
Bank loans and overdrafts	15,173	13,819
Corporation tax	9,155	6,103
Other creditors	67,542	90,542
	--------	---------
	91,870	110,464
	--------	---------

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

	2017	2016
	£	£
Bank loans and overdrafts	150,696	166,969
	---------	---------

7. Director's advances, credits and guarantees

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

	Balance brought forward and outstanding
	2017	2016
	£	£
Mr A H Evans	( 205)	( 205)
	----	----

Bal At Bal at Start Of end of Year Advances Repayments year Directors Overdrawn Loan A/c 205 nil nil 205 Andrew Evans

8. Related party transactions

During the year AHE Properties Ltd repaid £23,000 of the monies loaned from Andrew Evans Painting and Decorating Ltd. At 31st December 2017 AHE Properties Ltd owed Andrew Evans Painting and Decorating Ltd £66,512 and this is included in closing creditors.