Herd Construction (Herts) Limited
Herd Construction (Herts) Limited
Registered number: 01035510
Unaudited Financial Statements
For The Year Ended 31 March 2019
Herd Construction (Herts) Limited
Unaudited Financial Statements
For The Year Ended 31 March 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Herd Construction (Herts) Limited
Balance Sheet
As at
31 March 2019
Balance Sheet
Registered number:
01035510
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 6 |
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| Investments | 7 |
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| CURRENT ASSETS | |||||
| Debtors | 8 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 9 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 10 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 499,310 | 461,555 | |||
Page 1
Herd Construction (Herts) Limited
Balance Sheet (continued)
As at
31 March 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Herd Construction (Herts) Limited
Notes to the Financial Statements
For The Year Ended 31 March 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
1.3.
Investment Properties
FRS 102 says Investment properties should either be held at cost or revalued cost and be subject to periodic charges for depreciation over 25 years, except for properties held on lease which should be depreciated over the period when the unexpired term is 25 years or less, or revlaued every year and the revaluation surplus or deficit taken to the profit and loss account.
The directors have decided, due to the cost and inconvenience of independently valuing lots of smallish properties, that the Investment properties should be included in the balance sheet at their historic cost and no depreciation provided.
The directors have reviewed the value of the investment properties and believe the current value is around £2,380,000. No adjustment has been made for this in the accounts.
1.4.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.5.
Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.
4.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Office and administration |
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Page 3
Herd Construction (Herts) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
6.
Tangible Assets
| Investment Properties | |
|---|---|
| £ | |
| Cost | |
| As at |
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| As at |
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| Net Book Value | |
| As at |
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| As at |
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The current value of the investment property the directors consider to be £2,380,000.
7.
Investments
| Unlisted | |
|---|---|
| £ | |
| Cost | |
| As at |
95 |
| As at |
95 |
| Provision | |
| As at |
- |
| As at |
- |
| Net Book Value | |
| As at |
95 |
| As at |
95 |
8.
Debtors
| 2019 | 2018 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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| Other debtors |
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| Amounts owed by associates |
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Page 4
Herd Construction (Herts) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
9.
Creditors: Amounts Falling Due Within One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| VAT |
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| Accruals and deferred income |
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11.
Directors Advances, Credits and Guarantees
Dividends paid to directors
| 2019 | 2018 | |
|---|---|---|
| £ | £ | |
| Mr James Wedge | 1,600 | 3,000 |
| Mr Roy Glossop | 1,600 | - |
12.
Dividends
| 2019 | 2018 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| 80,000 | 75,000 | ||
Page 5
Herd Construction (Herts) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 March 2019
13.
Related Party Transactions
CP Finance
Common Directors
During the year the related party provided accountancy services to the company and charged £1500.
Wedge Homes Ltd
Common directors
During the year the related party provided property maintenance services to the related party. The costs charged during the year were £112.
14.
Controlling Party
The company has no controlling party.
15.
General Information
Herd Construction (Herts) Limited Registered number 01035510 is a limited by shares company incorporated in England & Wales. The Registered Office is Unit 11 Worton Court, Worton Hall Ind Estate, Worton Road, Isleworth, Middlesex, TW7 6ER.
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