Acuity Heritage Properties Ltd - Accounts to registrar (filleted) - small 18.1

ACUITY HERITAGE PROPERTIES LTD

Unaudited Financial Statements

for the Year Ended 31st December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A M Chittenden

G J M Penrhyn-Lowe

REGISTERED OFFICE:

Woolton Wood Lodge

High Street

Woolton

Liverpool

Merseyside

L25 7TD

REGISTERED NUMBER:

09141403 (England and Wales)

FIXED ASSETS

Tangible assets

4

90

-

CURRENT ASSETS

Stocks

115,702

165,671

Debtors

5

5,050

90,465

Cash at bank

3,061

1,263

123,813

257,399

CREDITORS

Amounts falling due within one year

6

124,565

268,829

NET CURRENT LIABILITIES

(752

)

(11,430

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(662

)

(11,430

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

7

(663

)

(11,431

)

SHAREHOLDERS' FUNDS

(662

)

(11,430

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 16th April 2018 and were signed on its behalf by:

A M Chittenden - Director

1.	STATUTORY INFORMATION

Acuity Heritage Properties 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.

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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates.

The areas in the financial statements where these judgements and estimates have been made include:

- The useful lives of plant and equipment which are estimated based on the period over which the assets are

expected to be available for use. The estimated useful lives are reviewed periodically and are updated if

expectations differ from previous estimates due to physical wear and tear, technical or commercial

obsolescence and legal or other limits on the use of the relevant assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

Debtors, creditors and directors loan (being repayable on demand) are measured at the undiscounted amount

of cash or other consideration expected to be paid or received.

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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

120

At 31st December 2017

120

DEPRECIATION

Charge for year

30

At 31st December 2017

30

NET BOOK VALUE

At 31st December 2017

90

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

50

-

Other debtors

5,000

90,465

5,050

90,465

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other creditors

124,565

268,829

7.

RESERVES

Retained

earnings

£

At 1st January 2017

(11,431

)

Profit for the year

10,768

At 31st December 2017

(663

)

8.	RELATED PARTY DISCLOSURES

Mr A M Chittenden is a director and shareholder of Governance Health Ltd. During the period Acuity Heritage

Properties Ltd received loans from Governance Health Ltd. Interest accrues at a commercial rate and the

balance outstanding at 31st December 2017, included in creditors, was £nil (2016 - £56,100).

Mr G J M Penrhyn-Lowe is a director and shareholder of Penrhyn-Lowe Associates Limited. During the period

Acuity Heritage Properties Ltd received loans from Penrhyn-Lowe Associates Limited. Interest accrues at a

commercial rate and the balance outstanding at 31st December 2017, included in creditors, was £60,527 (2016

- £110,527).

During the period Penrhyn-Lowe Associates Limited provided professional services to Acuity Heritage Properties

Ltd to the value of £35,336 (2016 - £3,165).

During the year Governance Health Ltd provided professional services to Acuity Heritage Properties Ltd

to the value of £25,344 (2016 - £3,930).

Included in other creditors at 31st December 2017 is an amount of £63,028 (2016 - £100,228) owing to the

Director

Mr A M Chittenden on which interest accrues at a commercial rate.