HERONGATE HOMES LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06857495 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2016 TO 30 SEPTEMBER 2017

FOR

HERONGATE HOMES LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T S Elliott

REGISTERED OFFICE:

Suite 66

26 The Hornet

Chichester

West Sussex

PO19 7BB

REGISTERED NUMBER:

06857495 (England and Wales)

ACCOUNTANTS:

James Todd & Co Limited

1 & 2 The Barn

Oldwick

West Stoke Road

Chichester

West Sussex

PO18 9AA

FIXED ASSETS

Tangible assets

4

969

4,592

CURRENT ASSETS

Stocks

21,295

122,289

Debtors

506,040

347,541

Investments

105,550

-

Cash at bank

38,544

175,996

671,429

645,826

CREDITORS

Amounts falling due within one year

732,910

713,148

NET CURRENT LIABILITIES

(61,481

)

(67,322

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(60,512

)

(62,730

)

CAPITAL AND RESERVES

Called up share capital

5

100

100

Retained earnings

(60,612

)

(62,830

)

SHAREHOLDERS' FUNDS

(60,512

)

(62,730

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 30 September 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 9 May 2019 and were signed by:

T S Elliott - Director

1.	STATUTORY INFORMATION

HERONGATE HOMES 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.

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, and are in sterling (£), which is the functional currency

of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the

company has adequate resources to continue in operational existence for the foreseeable future.

The director therefore adopts the going concern basis of accounting in preparing the financial

statements.

Turnover

Turnover represents the amounts derived from the provision of goods and services falling within the

company's ordinary activities, after deduction of trade discounts, value added tax and any other

other taxes.

Tangible fixed assets

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

Office equipment

-

25% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to

determine whether there is any indication of their values being impaired. Any impairment losses are

then treated as an expense during the period.

Stocks and work in progress

Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making

due allowance for obsolete and slow-moving items. Cost includes all direct expenditure and a

proportion of fixed and variable overheads where appropriate.

Taxation

Taxation for the period 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the

period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 30 September 2017

26,030

DEPRECIATION

At 1 April 2016

21,438

Charge for period

3,623

At 30 September 2017

25,061

NET BOOK VALUE

At 30 September 2017

969

At 31 March 2016

4,592

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.17

31.3.16

value:

£

£

100

Ordinary

£1

100

100

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended

30 September 2017 and the year ended 31 March 2016:

30.9.17

31.3.16

£

£

T S Elliott

Balance outstanding at start of period

16,233

21,303

Amounts advanced

1,943

-

Amounts repaid

(18,200

)

(5,070

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

(24

)

16,233