Helmsdale Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00824622 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2018

for

Helmsdale Investments Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

3

86

186

Investment property

4

2,100,000

2,200,000

2,100,086

2,200,186

Current assets

Debtors

5

75,000

75,000

Prepayments and accrued income

6,502

-

Cash at bank

5,426

7,296

86,928

82,296

Creditors

Amounts falling due within one year

6

510,701

559,854

Net current liabilities

(423,773

)

(477,558

)

Total assets less current liabilities

1,676,313

1,722,628

Provisions for liabilities

273,749

300,973

Net assets

1,402,564

1,421,655

Capital and reserves

Called up share capital

8

8

Revaluation reserve

8

1,252,213

1,324,989

Retained earnings

150,343

96,658

Shareholders' funds

1,402,564

1,421,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 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 25 June 2019 and were signed on its behalf by:

R J Grievson - Director

1.	Statutory information

Helmsdale Investments Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address are as below:

Registered number:

00824622

Registered office:

Totterdown House Totterdown

Inkpen

Hungerford

Berkshire

RG17 9EA

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable in respect of the accounting period.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Investment property

Investment properties are valued by the directors on an open market value basis. Depreciation is not

provided on these investment properties.

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

Fixtures

and

fittings

£

Cost

At 1 October 2017

2,376

Additions

469

At 30 September 2018

2,845

Depreciation

At 1 October 2017

2,190

Charge for year

569

At 30 September 2018

2,759

Net book value

At 30 September 2018

86

At 30 September 2017

186

4.	Investment property

Total

£

Fair value

At 1 October 2017

2,200,000

Revaluations

(100,000

)

At 30 September 2018

2,100,000

Net book value

At 30 September 2018

2,100,000

At 30 September 2017

2,200,000

Fair value at 30 September 2018 is represented by:

£

Valuation in 2018

(100,000

)

Valuation in 2014

365,000

Valuation in 2013

1,260,962

Cost

574,038

2,100,000

5.

Debtors: amounts falling due within one year

2018

2017

£

£

Amounts owed by group undertakings

75,000

75,000

6.

Creditors: amounts falling due within one year

2018

2017

£

£

Bank loans and overdrafts

-

522,965

Corporation tax

12,686

10,725

Directors' loan accounts

489,294

13,054

Accrued expenses

8,721

13,110

510,701

559,854

7.	Secured debts

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

-

522,965

The bank loan was secured by a mortgage on the property.

8.

Reserves

Revaluation

reserve

£

At 1 October 2017

1,324,989

Net revaluation in the year

(81,000

)

Deferred tax movement

8,224

At 30 September 2018

1,252,213

9.	Related party disclosures

R J Grievson

Director

2018

2017

£

£

Amount due to related party at the balance sheet date

247,813

4,693

R J Nevill

Director

2018

2017

£

£

Amount due to related party at the balance sheet date

241,481

8,361

Hungerford Estates Limited

The parent company.

2018

2017

£

£

Amount due from related party at the balance sheet date

75,000

75,000

10.	Ultimate controlling party

RJ Grievson and RJ Nevill by way of their joint control of the parent company.