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

REGISTERED NUMBER: 03273006 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2017

for

Assetload Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P I H Pressland

REGISTERED OFFICE:

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

REGISTERED NUMBER:

03273006 (England and Wales)

ACCOUNTANTS:

Wheeler & Co Ltd

Chartered Accountants

The Shrubbery

14 Church Street

Whitchurch

Hampshire

RG28 7AB

FIXED ASSETS

Tangible assets

4

5,000

7,500

Investment property

5

5,525,002

4,575,905

5,530,002

4,583,405

CURRENT ASSETS

Stocks

492,842

492,842

Debtors

6

1,315,754

1,395,675

Cash at bank

24,694

31,345

1,833,290

1,919,862

CREDITORS

Amounts falling due within one year

7

220,293

252,965

NET CURRENT ASSETS

1,612,997

1,666,897

TOTAL ASSETS LESS CURRENT LIABILITIES

7,142,999

6,250,302

CREDITORS

Amounts falling due after more than one year

8

5,448,999

5,350,140

NET ASSETS

1,694,000

900,162

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

10

1,455,337

531,491

Retained earnings

238,661

368,669

SHAREHOLDERS' FUNDS

1,694,000

900,162

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

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

The financial statements were approved by the director on 16 October 2018 and were signed by:

P I H Pressland - Director

1.	STATUTORY INFORMATION

Assetload 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced rent and property sales excluding value added tax

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2016

and 30 November 2017

13,850

DEPRECIATION

At 1 December 2016

6,350

Charge for year

2,500

At 30 November 2017

8,850

NET BOOK VALUE

At 30 November 2017

5,000

At 30 November 2016

7,500

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2016

4,575,905

Additions

25,251

Revaluations

923,846

At 30 November 2017

5,525,002

NET BOOK VALUE

At 30 November 2017

5,525,002

At 30 November 2016

4,575,905

Fair value at 30 November 2017 is represented by:

£

Valuation in 2010

580,709

Valuation in 2011

(49,217

)

Valuation in 2017

923,846

Cost

4,069,664

5,525,002

If investment property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

4,069,664

-

investment property was valued on an open market basis on 18 July 2018 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,315,754

1,395,675

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

189,589

189,589

Taxation and social security

11,522

36,803

Other creditors

19,182

26,573

220,293

252,965

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

3,946,498

3,347,639

Other creditors

1,502,501

2,002,501

5,448,999

5,350,140

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

3,027,079

3,027,079

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

4,136,087

3,537,228

10.

RESERVES

Revaluation

reserve

£

At 1 December 2016

531,491

Investment property

923,846

At 30 November 2017

1,455,337