Huxford Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02886435 (England and Wales)

HUXFORD HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mr P Huxford

Mrs F Huxford

Miss J Huxford

SECRETARY:

Mrs F Huxford

REGISTERED OFFICE:

1650 Parkway

Solent Business Park

Whiteley

Fareham

Hampshire

PO15 7AH

REGISTERED NUMBER:

02886435 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Huxford Holdings Limited for the year ended 31 December 2018 on pages nil to nil from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Huxford Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Huxford Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Huxford Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Huxford Holdings Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Huxford Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Huxford Holdings Limited. You consider that Huxford Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Huxford Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothmans LLP

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

1 September 2019

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

35,600

35,600

35,600

35,600

CURRENT ASSETS

Debtors

6

24,893

25,205

Cash at bank

10,805

12,393

35,698

37,598

CREDITORS

Amounts falling due within one year

7

63,493

55,705

NET CURRENT LIABILITIES

(27,795

)

(18,107

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,805

17,493

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

6,805

16,493

SHAREHOLDERS' FUNDS

7,805

17,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 17 June 2019 and were signed on its behalf by:

Mr P Huxford - Director

Mrs F Huxford - Director

1.	STATUTORY INFORMATION

Huxford Holdings Limited is a private company, limited by shares, registered in England and Wales. The

company's registered number is 02886435 and the registered office address is 1650 Parkway, Solent Business

Park, Whiteley, Fareham, Hampshire, PO15 7AH.

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.

The presentational currency is £ sterling.

Significant judgements and estimates

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

assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the

amounts reports for revenues and expenses during the year. However, the nature of estimation means that

actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts

recognised in the financial statements.

Useful life of tangible fixed assets

A reliable estimate is made of the useful life of tangible assets on acquisition. The estimate is based on a variety of factor such as expected use of the acquired asset and assumptions that market participants would consider in respect of similar business.

Leases

A lease that does not transfer substantially all of the risks and rewards of ownership is classified as an operating lease and is therefore not included in the statement of financial position.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as market conditions, the remaining life of the asset and projected disposal values.

Turnover

Turnover is derived from management charges and is recognised on provision of the service.

Turnover represents net amounts invoiced during the year (excluding value added tax) adjusted for accrued and

deferred income where applicable.

Tangible fixed assets

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation

and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to

bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended

by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful

economic life of that asset as follows:

Computer equipment

- 20% straight line

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each

reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the

difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

Investments

Investments in subsidiary companies are included in the financial statements at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised

when paid. Final equity dividends are recognised when approved by the shareholders at an annual general

meeting.

Group accounts

The company is entitled to the exemption under section 398 of the Companies Act 2006 from the obligation to

prepare group accounts.

Going concern

The company is considered to be a going concern by the directors as it has the support of the directors and the

group.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2018

1,134

Disposals

(1,134

)

At 31 December 2018

-

DEPRECIATION

At 1 January 2018

1,134

Eliminated on disposal

(1,134

)

At 31 December 2018

-

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

35,600

NET BOOK VALUE

At 31 December 2018

35,600

At 31 December 2017

35,600

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Amounts owed by group undertakings

24,063

25,205

Other debtors

830

-

24,893

25,205

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

2,926

4,224

Amounts owed to group undertakings

26,465

-

Corporation tax

8,060

22,462

Social security and other taxes

1,330

1,489

VAT

7,697

7,515

Other creditors

9,174

7,174

Directors' current accounts

1,600

6,600

Accruals and deferred income

6,241

6,241

63,493

55,705

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.