The Maltings (Petersfield) Company Ltd - Limited company accounts 17.3

REGISTERED NUMBER: 08085429 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 May 2017

for

The Maltings (Petersfield) Company Ltd

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

M V K Hall

A Uren

D Hocking

Ms S C Gray

R K Ward MBE

P C Taylor

REGISTERED OFFICE:

32 Dragon Street

Petersfield

Hampshire

GU31 4JJ

REGISTERED NUMBER:

08085429 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

32 Dragon Street

Petersfield

Hampshire

GU31 4JJ

The directors present their report with the financial statements of the company for the year ended 31 May 2017.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 June 2016 to the

date of this report.

M V K Hall

A Uren

Other changes in directors holding office are as follows:

D Hocking , Ms S C Gray , R K Ward MBE and P C Taylor were appointed as directors after
31 May 2017 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

M V K Hall - Director

24 February 2018

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

your approval the financial statements of The Maltings (Petersfield) Company Ltd for the year

ended 31 May 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 Board of Directors of The Maltings (Petersfield) Company Ltd, 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 The Maltings (Petersfield) Company Ltd and state those matters that we have agreed to state to the Board of Directors of The Maltings (Petersfield) Company Ltd, 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 The Maltings (Petersfield) Company Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Maltings (Petersfield) Company Ltd 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 The Maltings (Petersfield) Company Ltd. You consider that The Maltings (Petersfield) Company Ltd 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 The Maltings (Petersfield) Company Ltd. 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.

Rothman Pantall LLP

32 Dragon Street

Petersfield

Hampshire

GU31 4JJ

26 February 2018

TURNOVER

-

Administrative expenses

98

1,423

OPERATING DEFICIT and

DEFICIT BEFORE TAXATION

(98

)

(1,423

)

Tax on deficit

-

DEFICIT FOR THE FINANCIAL
YEAR

(98

)

(1,423

)

FIXED ASSETS

Tangible assets

3

18,081

CURRENT ASSETS

Cash at bank

289

387

NET CURRENT ASSETS

289

387

TOTAL ASSETS LESS CURRENT
LIABILITIES

18,370

18,468

RESERVES

Capital contribution

19,860

Income and expenditure account

(1,490

)

(1,392

)

18,370

18,468

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 surplus or deficit 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 February 2018 and were
signed on its behalf by:

M V K Hall - Director

1.	STATUTORY INFORMATION

The Maltings (Petersfield) Company Ltd is a private company, limited by guarantee ,

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 31 May 2017 are the first that are prepared in

accordance with FRS 102 Section 1A. The previous financial statements were prepared in

accordance with UK GAAP, the date of transition to FRS 102 Section 1A is 1 June 2015.

Tangible fixed assets

All fixed assets are initially recorded at cost.

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.

3.	TANGIBLE FIXED ASSETS

Freehold

land

£

COST

At 1 June 2016

and 31 May 2017

18,081

NET BOOK VALUE

At 31 May 2017

18,081

At 31 May 2016

18,081

Included in cost of land and buildings is freehold land of £ 18,081 (2016 - £ 18,081 ) which is

not depreciated.