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

REGISTERED NUMBER: 01454118 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

THEOBERRY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J F Harness

Ms E J Bellsham-Revell

SECRETARY:

J F Harness

REGISTERED OFFICE:

The Galleries

Charters Road

Sunningdale

Ascot

Berkshire

SL5 9QJ

REGISTERED NUMBER:

01454118 (England and Wales)

ACCOUNTANTS:

Davis Burton Sellek

Chartered Accountants

The Galleries

Charters Road

Sunningdale

Berkshire

SL5 9QJ

FIXED ASSETS

Tangible assets

4

809

951

Investments

5

100

100

Investment property

6

800,000

800,000

800,909

801,051

CURRENT ASSETS

Debtors

7

32,668

71,203

Cash at bank

9,767

1,706

42,435

72,909

CREDITORS

Amounts falling due within one year

8

16,083

5,956

NET CURRENT ASSETS

26,352

66,953

TOTAL ASSETS LESS CURRENT LIABILITIES

827,261

868,004

CREDITORS

Amounts falling due after more than one year

9

(354,339

)

(356,302

)

PROVISIONS FOR LIABILITIES

(136,128

)

(136,804

)

NET ASSETS

336,794

374,898

CAPITAL AND RESERVES

Called up share capital

99

99

Non-distributable reserve

11

559,255

559,255

Retained earnings

(222,560

)

(184,456

)

SHAREHOLDERS' FUNDS

336,794

374,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 15 October 2018 and were signed on its behalf by:

J F Harness - Director

1.	STATUTORY INFORMATION

Theoberry 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.

Revenue recognition

Revenue represents rents and service charges received from letting of freehold property.

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

-

15% on reducing balance

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

life.

Fixtures and fittings - 15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are included in the balance sheet at open market value. Depreciation is provided only on

those properties which are leasehold and where the unexpired term is less than 20 years.

Although this is in accordance with FRS 102 (1A) it is a departure from the general requirements of the

Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the

standard is necessary for the financial statements to give a true and fair view.

Depreciation is only one of many factors reflected in the annual valuation and the amount of this which might

otherwise have been charged cannot be separately identified or quantified.

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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising

from impairment are recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2017

and 31 March 2018

7,965

DEPRECIATION

At 1 April 2017

7,014

Charge for year

142

At 31 March 2018

7,156

NET BOOK VALUE

At 31 March 2018

809

At 31 March 2017

951

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2017

and 31 March 2018

100

NET BOOK VALUE

At 31 March 2018

100

At 31 March 2017

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2017

and 31 March 2018

800,000

NET BOOK VALUE

At 31 March 2018

800,000

At 31 March 2017

800,000

Fair value at 31 March 2018 is represented by:

£

Valuation in 2016

800,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

3,524

2,609

Amounts owed by group undertakings

23,970

17,830

Other debtors

5,174

50,764

32,668

71,203

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

1,953

1,781

Other creditors

14,130

4,175

16,083

5,956

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

354,339

356,302

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

349,412

349,416

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

356,292

358,083

11.

RESERVES

Non-distributable

reserve

£

At 1 April 2017

and 31 March 2018

559,255

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A lease has been granted to J.F.C. Harness and E.J. Bellsham-Revell on the ground floor flat of the freehold

property at 63 Highbury New Park, London N.5. for a period of 99 years from 29th September 1986, under

which a rental of £50 per annum is paid to the company.