AI (South East) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11090138 (England and Wales)

Unaudited Financial Statements

for the period

30 November 2017 to 30 September 2018

for

AI (SOUTH EAST) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

Directors:

S R Lavers

B O Boyce

P J Davies

Registered office:

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Registered number:

11090138 (England and Wales)

Accountants:

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

Fixed assets

Investments

4

331,926

Investment property

5

62,000

393,926

Current assets

Debtors

6

2,263,126

Cash at bank

19,129

2,282,255

Creditors

Amounts falling due within one year

7

2,084

Net current assets

2,280,171

Total assets less current liabilities

2,674,097

Creditors

Amounts falling due after more than one year

8

2,672,500

Net assets

1,597

Capital and reserves

Called up share capital

10

50,000

Fair value reserve

11

42,000

Retained earnings

11

(90,403

)

Shareholders' funds

1,597

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 5 June 2019 and were signed on its behalf by:

S R Lavers - Director

1.	Statutory information

AI (South East) 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.

The company's place of business is 102A The Green, Twickenham, TW2 5AG.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about AI (South East) Limited as an individual company and do

not contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires

management to make estimates and judgement that affect the reported amounts of assets and liabilities as well

as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of

revenues and expenses during the reporting period.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out

by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible,

there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a

party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial

recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the

effective interest rate method. A provision is established when there is objective evidence that the company will

not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank

and bank overdrafts.

Taxation

Tax is recognised in the Profit and Loss Account, 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 period 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.

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. The non-distributable surplus/deficit is then transfered to a fair value

reserve.

Fair values are determined using various assumptions surrounding the potential demand from prospective

purchasers and tenants for the revalued property, the amount a prospective purchaser is willing to pay and the

future condition of the property.

3.	Employees and directors

The average number of employees during the period was NIL.

4.	Fixed asset investments

Shares in

group

Interest in

undertakings

associate

Totals

£

£

£

Cost

Additions

329,926

2,000

331,926

At 30 September 2018

329,926

2,000

331,926

Net book value

At 30 September 2018

329,926

2,000

331,926

5.	Investment property

Total

£

Fair value

Additions

20,000

Revaluations

42,000

At 30 September 2018

62,000

Net book value

At 30 September 2018

62,000

Fair value at 30 September 2018 is represented by:

£

Valuation in 2018

42,000

Cost

20,000

62,000

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

£

Cost

20,000

Investment property was valued on an open market basis on 30 September 2018 by the directors .

6.

Debtors

£

Amounts falling due within one year:

Other debtors

117,651

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,882,975

Other debtors

262,500

2,145,475

Aggregate amounts

2,263,126

7.

Creditors: amounts falling due within one year

£

Other creditors

2,084

8.

Creditors: amounts falling due after more than one year

£

Other creditors

2,672,500

9.	Secured debts

The following secured debts are included within creditors:

£

Other loans

2,672,500

Included in creditors due after more than one year are other loans totalling £2,672,500 which have been

secured by a fixed and floating charge over all property and undertakings of the company.

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

50,000

Ordinary

£1

50,000

50,000 Ordinary shares of £1 each were allotted and fully paid for cash at par during the period.

11.

Reserves

Retained

Fair value

earnings

reserve

Totals

£

£

£

Deficit for the period

(48,403

)

(48,403

)

Transfer between reserves

for change in unrealised gain

on investment properties

(42,000

)

42,000

-

At 30 September 2018

(90,403

)

42,000

(48,403

)

12.	Related party disclosures

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to

file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of

Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of AI (South East) Limited for the period ended 30 September 2018 which comprise the Profit and

Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting

records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of AI (South East) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AI (South East) Limited and state those matters that we have agreed to state to the Board of Directors of AI (South East) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AI (South East) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that AI (South East) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of AI (South East) Limited. You consider that AI (South East) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of AI (South East) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

Chartered Accountants

Aissela

46 High Street

Esher

Surrey

KT10 9QY

5 June 2019