ATRA INVESTMENTS LIMITED Filleted accounts for Companies House (small and micro)

ATRA INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 00757949

ATRA INVESTMENTS LIMITED

Filleted Unaudited Financial Statements

31 March 2018

ATRA INVESTMENTS LIMITED

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5	73	97
Investment property	6	502,500	500,000
		---------	---------
		502,573	500,097

Current assets

Debtors	7	169,788	167,797
Cash at bank and in hand		71,729	70,250
		---------	---------
		241,517	238,047

Creditors: amounts falling due within one year	8	9,242		8,584
		---------		---------
Net current assets			232,275	229,463
			---------	---------
Total assets less current liabilities			734,848	729,560

Provisions

Taxation including deferred tax	75,000	75,000
	---------	---------
Net assets	659,848	654,560
	---------	---------

Capital and reserves

Called up share capital		100	100
Fair value reserve	11	418,073	418,073
Profit and loss account	11	241,675	236,387
		---------	---------
Shareholders funds		659,848	654,560
		---------	---------

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 comprehensive income has not been delivered.

For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

ATRA INVESTMENTS LIMITED

Statement of Financial Position (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 30 November 2018 , and are signed on behalf of the board by:

N Fluss

Director

Company registration number: 00757949

ATRA INVESTMENTS LIMITED

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hallswelle House, 1 Hallswelle Road, London, NW11 0DH.

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 and represents amounts receivable for rents.

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	25% reducing balance

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without any undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

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. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 April 2017 and 31 March 2018	8,321	8,321
	-------	-------
Depreciation
At 1 April 2017	8,224	8,224
Charge for the year	24	24
	-------	-------
At 31 March 2018	8,248	8,248
	-------	-------
Carrying amount
At 31 March 2018	73	73
	-------	-------
At 31 March 2017	97	97
	-------	-------

6. Investment property

	Freehold investment property
	£
Cost
At 1 April 2017	500,000
Additions	2,500
	---------
At 31 March 2018	502,500
	---------
Impairment
At 1 April 2017 and 31 March 2018	–
	---------

Carrying amount
At 31 March 2018	502,500
	---------
At 31 March 2017	500,000
	---------

The investment property has been revalued by the directors on an open market value for existing use basis as at 31 March 2017.

7. Debtors

	2018	2017
	£	£
Other debtors	169,788	167,797
	---------	---------

Other debtors include amounts due from related undertakings of £168,557 (2017:167,797) .

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	1,246	1,518
Social security and other taxes	3,264	–
Other creditors	4,732	7,066
	-------	-------
	9,242	8,584
	-------	-------

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2018	2017
	£	£
Included in provisions	75,000	75,000
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2018	2017
	£	£
Fair value adjustment of financial assets	75,000	75,000
	--------	--------

10. Analysis of other comprehensive income

Fair value reserve	Profit and loss account	Total
£	£	£

Year ended 31 March 2017
Revaluation of tangible assets	359,615	–	359,615
Reclassification from revaluation reserve to profit and loss account	–	( 359,615)	( 359,615)
	---------	---------	---------
	359,615	( 359,615)	–
	---------	---------	---------

11. Reserves

Other reserves This non-distributable reserve is used to record increases in the fair value of freehold investment properties and decreases to the extent that such decreases relate to the increase on the same asset. The figure is stated net of the associated deferred tax liability. Profit and loss account This is the distributable reserve represented by the retained profit and loss.