Guildhall Apollonian Property Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07380656 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2019

for

Guildhall Apollonian Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B Colborn

J M Hare

P M Carr

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

07380656 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Investment property

3

1,759,068

1,759,068

CURRENT ASSETS

Cash at bank

8,305

130,777

CREDITORS

Amounts falling due within one year

4

174,283

173,150

NET CURRENT LIABILITIES

(165,978

)

(42,373

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,593,090

1,716,695

CREDITORS

Amounts falling due after more than one year

5

(1,197,270

)

(1,418,099

)

PROVISIONS FOR LIABILITIES

6

(44,511

)

(43,181

)

NET ASSETS

351,309

255,415

CAPITAL AND RESERVES

Called up share capital

7

300

300

Retained earnings

351,009

255,115

SHAREHOLDERS' FUNDS

351,309

255,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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 applicable to companies subject to the small companies regime.

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 6 December 2019 and were signed on its behalf by:

P M Carr - Director

J M Hare - Director

B Colborn - Director

1.	STATUTORY INFORMATION

Guildhall Apollonian Property Ltd 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the Company's accounting policies, which are described below, the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent

from other sources. The estimates and associated assumptions are based on historical experience and other factors that

are considered to be relevant. Actual results may differ from these estimates.

The estimated and underlying assumptions are reviewed on an ongoing basis. Revision to accounting estimates are

recognised in the period in which the estimate is revised if revision affects only that and future periods.

The following are critical judgements including those involving estimations, that the directors have made in the process of

applying the Company's accounting policies and that have the most significant effect on the amounts recognised in the

financial statements..

Investment property

The investment property is shown at fair value. The Directors have determined fair values on a property by property basis

at open market value based on assumptions on expected yield given the location and nature of the property comparable

to other known sales or potential sales in the region. When considered appropriate, the directors will seek formal or

informal valuations by land and estate agents. Should the fair value of the investment property change, it will be

recognised in the profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and

liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the

future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are

payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at

the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the

arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred

beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright

short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present

value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the

Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's

carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If

a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective

interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an

asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for

the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable

right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle

the liability simultaneously.

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.

Impairment policy

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding

investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may

be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible

impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is

estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is

written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

and 30 April 2019

1,759,068

NET BOOK VALUE

At 30 April 2019

1,759,068

At 30 April 2018

1,759,068

Investment property is held at cost this being considered the best estimation of the current fair value.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

21,163

20,575

Other creditors

153,120

152,575

174,283

173,150

Included within other creditors is a directors' loan account. The loan is repayable on demand and no interest has been

charged.

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

1,197,270

1,418,099

Included within other creditors is a directors' loan account. The loan is repayable on demand and no interest has been

charged.

6.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

Accelerated capital allowances

44,511

43,181

Deferred

tax

£

Balance at 1 May 2018

43,181

Charge to Income Statement during year

1,330

Balance at 30 April 2019

44,511

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

300

Ordinary

£1

300

300