ACC Properties Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03290325 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

ACC PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Dr C K Cunningham

D Lloyd-Williams

P F Chalke

D Borrow

SECRETARY:

Dr C K Cunningham

REGISTERED OFFICE:

Local Government House

Smith Square

London

SW1P 3HZ

REGISTERED NUMBER:

03290325 (England and Wales)

ACCOUNTANTS:

Thorne Lancaster Parker

Chartered Accountants

4th Floor

Venture House

27-29 Glasshouse Street

London

W1B 5DF

CURRENT ASSETS

Cash at bank

82,870

84,526

CREDITORS

Amounts falling due within one year

3

6,924

4,446

NET CURRENT ASSETS

75,946

80,080

TOTAL ASSETS LESS CURRENT LIABILITIES

75,946

80,080

CAPITAL AND RESERVES

Called up share capital

5

1

1

Retained earnings

6

75,945

80,079

SHAREHOLDERS' FUNDS

75,946

80,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 19 December 2017 and were signed on its behalf by:

P F Chalke - Director

1.	STATUTORY INFORMATION

ACC Properties 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 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 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Financial instruments

The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic

financial instruments.

a) Basic financial assets

Bank balances are initially recognised at transaction price and subsequently carried at amortised cost being the

transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic 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 or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised

the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the

carrying amount would have been had the impairment not previously been recognised. The impairment reversal

is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or

substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks

and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell

the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments according to the substance of the

contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

Trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost,

being transaction price less any amounts settled.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other

resources received or receivable, net of direct costs of issuing the equity instruments.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with

an original maturity date of three months or less.

3.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

1,756

Accruals and deferred income

6,924

2,690

6,924

4,446

4.	FINANCIAL INSTRUMENTS

The company has the following financial instruments:

Note

2017

2016

£

£

- Bank

82,870

84,526

82,870

84,526

Financial liabilities measured at transaction price

- Trade creditors

4

-

1,756

- Accruals

4

6,924

2,690

6,924

4,446

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary shares

£1

1

1

6.

RESERVES

Retained

earnings

£

At 1 April 2016

80,079

Deficit for the year

(4,134

)

At 31 March 2017

75,945

7.	RELATED PARTY DISCLOSURES

Dr C K Cunningham

During the year Dr C K Cunningham charged the company £3,600 as consultancy fees.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Dr C K Cunningham.

9.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102 (Section 1A). The last financial

statements prepared under previous UK GAAP were for the year ended 31 March 2016. The date of transition to

FRS 102 (Section 1A) was 1 April 2015.

The policies applied under the entity's previous accounting framework are not materially different to FRS 102

(Section 1A) and have not impacted on equity or profit or loss.