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

AI (SOUTH EAST) LIMITED - Company Information

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REGISTERED NUMBER: 11090138 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

AI (SOUTH EAST) LIMITED

Page

Company Information

Balance Sheet

Notes to the Financial Statements

Chartered Accountants' Report

Directors:

B O Boyce

P J Davies

S R Lavers

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

788,478

631,428

Current assets

Debtors

2,071,117

2,217,490

Cash at bank

186,517

75,093

2,257,634

2,292,583

Creditors

Amounts falling due within one year

2,084

Net current assets

2,255,550

2,290,499

Total assets less current liabilities

3,044,028

2,921,927

Creditors

Amounts falling due after more than one year

2,672,500

Net assets

371,528

249,427

Capital and reserves

Called up share capital

50,000

Fair value reserve

456,552

299,502

Retained earnings

(135,024

)

(100,075

)

Shareholders' funds

371,528

249,427

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2021 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.

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.

Investments in subsidiaries

Investments in subsidiaries are measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. The non-distributable surplus/deficit is then transferred to a fair value reserve.

Fair value is determined by estimating the transaction price for the investment in an arm's length exchange at the measurement date. This is based on movements in the value of the assets owned by the subsidiary. For both subsidiaries in the group fair value is primarily determined by the fair value of the investment property owned by those subsidiaries.

Investments in associates

Investments in associate undertakings are recognised at cost less impairment.

3.	Employees and directors

The average number of employees during the year was NIL (2019 - NIL).

4.	Fixed asset investments

Shares in

group

Interest in

undertakings

associate

Totals

Cost or valuation

At 1 October 2019

629,428

2,000

631,428

Revaluations

157,050

At 30 September 2020

786,478

2,000

788,478

Net book value

At 30 September 2020

786,478

2,000

788,478

At 30 September 2019

629,428

2,000

631,428

Cost or valuation at 30 September 2020 is represented by:

Shares in

group

Interest in

undertakings

associate

Totals

Valuation in 2019

299,502

Valuation in 2020

157,050

Cost

329,926

2,000

331,926

786,478

2,000

788,478

If investments had not been revalued they would have been included at the following historical cost:

2020

2019

Cost

331,926

Investments were valued on an open market basis on 30 September 2020 by the directors .

Debtors

2020

2019

Amounts falling due within one year:

Other debtors

129,250

153,719

2020

2019

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,941,867

1,938,771

Other debtors

125,000

1,941,867

2,063,771

Aggregate amounts

2,071,117

2,217,490

Creditors: amounts falling due within one year

2020

2019

Other creditors

2,084

Creditors: amounts falling due after more than one year

2020

2019

Other creditors

2,672,500

8.	Secured debts

The following secured debts are included within creditors:

2020

2019

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.

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

50,000

Ordinary

£1

50,000

10.	Related party disclosures

At the period end date, the entity was owed £2,066,867 (2019: £2,213,771) from companies in which the entity has a participating interest.

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 year ended 30 September 2020 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 profit of AI (South East) Limited. You consider that AI (South East) Limited is exempt from the statutory audit requirement for the year.

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

30 June 2021