Merestone Capital Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 10371084 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

12 SEPTEMBER 2016 TO 30 SEPTEMBER 2017

FOR

MERESTONE CAPITAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTOR:

C E De Mestre

REGISTERED OFFICE:

Harben House

Harben Parade

Finchley Road

London

NW3 6LH

REGISTERED NUMBER:

10371084 (England and Wales)

ACCOUNTANTS:

KBSP Partners LLP

Chartered Accountants

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

FIXED ASSETS

Investments

3

152,446

CURRENT ASSETS

Cash at bank

41,375

CREDITORS

Amounts falling due within one year

4

184,283

NET CURRENT LIABILITIES

(142,908

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,538

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

9,438

9,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 6 November 2017 and were signed by:

C E De Mestre - Director

1.	STATUTORY INFORMATION

Merestone Capital 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.

Financial instruments

i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances, are initially recognised at

transaction price, unless the arrangement constitutes a financing transaction, where a transaction is measured at the

present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of

impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the

present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment

loss is recognised in profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are

settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or

(c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset

to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payable, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the

future receipts discounted a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a

legally 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 period 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 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.

Fixed asset investments

Other Investments

Other investments represent investments in equity securities that present the group with opportunity for return

through dividend income and capital gains. They have no fixed maturity or coupon rate. The fair values of the listed

securities are based on quoted market prices.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance

sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

3.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

Additions

157,631

Disposals

(10,809

)

Revaluations

5,624

At 30 September 2017

152,446

NET BOOK VALUE

At 30 September 2017

152,446

Cost or valuation at 30 September 2017 is represented by:

Other

investments

£

Valuation in 2017

5,623

Cost

146,823

152,446

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

350

Other creditors

183,933

184,283

The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements

and the Report of the Director 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 Merestone Capital Limited for the period ended 30 September 2017 which comprise the Income Statement,

Balance Sheet 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 director of Merestone Capital Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Merestone Capital Limited and state those matters that we have agreed to state to the director of Merestone Capital Limited 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 Merestone Capital Limited director for our work or for this report.

It is your duty to ensure that Merestone Capital 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 Merestone Capital Limited. You consider that Merestone Capital 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 Merestone Capital 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.

KBSP Partners LLP

Chartered Accountants

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

6 November 2017