Artillery Mansions Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03320270 (England and Wales)

ARTILLERY MANSIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N H Brunskill

D C L Miller

SECRETARY:

C G Morgan

REGISTERED OFFICE:

50 Aylesbury Road

Aston Clinton

Aylesbury

Buckinghamshire

HP22 5AH

REGISTERED NUMBER:

03320270 (England and Wales)

FIXED ASSETS

Investments

4

203

303

CURRENT ASSETS

Debtors

5

3,414,321

2,328,462

Cash at bank

5,369

4,318

3,419,690

2,332,780

CREDITORS

Amounts falling due within one year

6

(1,490,434

)

(442,066

)

NET CURRENT ASSETS

1,929,256

1,890,714

TOTAL ASSETS LESS CURRENT LIABILITIES

1,929,459

1,891,017

CREDITORS

Amounts falling due after more than one year

7

(73,000

)

(73,000

)

NET ASSETS

1,856,459

1,818,017

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,855,459

1,817,017

SHAREHOLDERS' FUNDS

1,856,459

1,818,017

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 11 June 2018 and were signed on its behalf by:

D C L Miller - Director

1.	STATUTORY INFORMATION

Artillery Mansions 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.

These financial statements for the year ended 30 November 2017 are the first financial statements that

comply with FRS 102 including Section 1A. The company transitioned from previously extant UK

GAAP to FRS 102 as at 1 December 2015. An explanation of how transition to FRS 102 has affected

the reported financial position and financial performance is given in the notes.

FRS 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by FRS 102 including Section 1A:

-

the requirements of Section 7 Statement of Cash Flows; and

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

Significant judgements and estimates

The preparation of financial statements requires management to make judgements, estimates and

assumptions about the carrying values of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying assumptions are based on historical experience and other

factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects both

current and future periods.

In the opinion of the Directors, there are no specific key judgements or areas of estimation to disclose.

Turnover

Sales of property are recognised on completion if a legally binding unconditional contracts has been

exchanged. All deposits received for pre-sales are held as payments on account and are not

recognised until the above conditions are satisfied.

Rental and sundry income is recognised in the period to which it relates.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Debtors

Trade and other debtors are measured at their transaction price less any impairment unless the

arrangement constitutes a financing transaction in which case the transaction is measured at the

present value of the future receipts discounted at the prevailing market rate of interest. Loans are

initially measured at fair value and are subsequently measured at amortised cost using the effective

interest method less any impairment.

Cash at bank and in hand

Cash at bank in the Balance Sheet comprise cash at bank and in hand and short term deposits with an

original maturity date of three months or less.

Creditors

Trade and other creditors are measured at their transaction price unless the arrangement constitutes a

financing transaction in which case the transaction is measured at the present value of the future

payments discounted at the prevailing market rate of interest. Other financial liabilities are initially

measured at fair value net of their transaction costs. They are subsequently measured at amortised

cost using the effective interest method.

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.

Investments

Investments held as fixed assets are shown at cost less provision for impairment.

Investments are included at cost less amounts written off. Profits or losses arising from disposals of

fixed asset investments are treated as part of the result from ordinary activities.

Going concern

The company currently has a minimal ongoing working capital requirement due to the nature of its

activities.

In making their assessment of going concern, the directors have taken account of the continuing

financial support pledged by other group and related companies. The directors are confident that the

other group and related companies are able to provide this support and therefore the company should

not require alternative financing in order to continue in business.

The directors have prepared group forecasts which indicate that the company will be able to meet its

liabilities as and when they fall due for payment. These forecasts include expected cash inflows from

the sale of properties held by the group and related companies. If these transactions do not occur

within the expected timeframe then the group and related companies would need to seek alternative

financing in order to continue in business. The directors believe that they have a reasonable

expectation of selling the properties within the required timeframe and as a result have drawn up the

financial statements using the going concern basis of accounting.

Group accounts

The company is exempt from preparing consolidated financial statements on the grounds that taken

together with its subsidiaries, it qualifies as a small group under section 398 of the Companies Act

2006. These financial statements therefore present information about the company as an individual

undertaking and not about its group.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Amounts owed by group companies

2,831,979

1,552,661

Amounts owed by related companies

581,680

513,682

Other debtors

662

262,119

3,414,321

2,328,462

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

3,066

330

Amounts owed to group companies

1,479,804

432,956

Other creditors

7,564

8,780

1,490,434

442,066

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

73,000

73,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2017

and 30 November 2016:

2017

2016

£

£

D C L Miller

Balance outstanding at start of year

249,770

-

Amounts advanced

9,341

249,770

Amounts repaid

(259,111

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

249,770

N H Brunskill

Balance outstanding at start of year

10,250

-

Amounts advanced

137

10,250

Amounts repaid

(10,387

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

10,250

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is DCL Miller.

10.	FIRST YEAR ADOPTION

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

FRS 102 and have not impacted on the comparative period figures.