Hawkstead Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08068441 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2019

FOR

Hawkstead Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

Directors:

Mr D Gribble

Mrs C Gribble

Registered office:

15 Leigham Terrace Lane West

Plymouth

Devon

PL1 3FR

Registered number:

08068441 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Tangible assets

4

-

-

Investment property

5

300,000

300,000

300,000

300,000

Current assets

Debtors

6

1,411

2,466

Cash at bank

11,317

13,145

12,728

15,611

Creditors

Amounts falling due within one year

7

85,004

39,610

Net current liabilities

(72,276

)

(23,999

)

Total assets less current liabilities

227,724

276,001

Creditors

Amounts falling due after more than one year

8

235,817

251,350

Net (liabilities)/assets

(8,093

)

24,651

Capital and reserves

Called up share capital

9

100

100

Retained earnings

(8,193

)

24,551

Shareholders' funds

(8,093

)

24,651

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 26 October 2019 and were signed on its behalf by:

Mr D Gribble - Director

1.	STATUTORY INFORMATION

Hawkstead 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 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 statments have been prepared under the historical cost convention.

These financial statements have been prepared on a going concern basis. The company is

dependant on the support of the directors who have a loan account of £160,803 included

within creditors. The directors do not intend to withdraw these funds within 12 months.

Turnover

Turnover represents rents receivable adjusted for any amounts in arrears or advance at the

balance sheet date.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any

accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other

than freehold land, at rates calculated to write off the cost, less estimated residual value, of

each asset evenly over its expected useful life, as follows:

Office equipment

33% straight line

Investment property

Not depreciated

Investment property

Investment property is carried at fair value, derived from current market prices for

comparable real estate determined annually by the directors, adjusted if necessary for any

difference in the nature, location or condition of the specific asset. An independent valuation

has not been undertaken. Any changes in fair value are recognised in the profit and loss.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price),

less any impairment losses for bad and doubtful debts. Loans and other financial assets are

initially recognised at transaction price including any transaction costs and subsequently

measured at amortised cost determined using the effective interest method, less any

impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price).

Loans and other financial liabilities are initially recognised at transaction price net of any

transaction costs and subsequently measured at amortised cost determined using the

effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 June 2018

and 31 May 2019

471

Depreciation

At 1 June 2018

and 31 May 2019

471

Net book value

At 31 May 2019

-

5.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 June 2018

and 31 May 2019

300,000

Net book value

At 31 May 2019

300,000

At 31 May 2018

300,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

1,411

2,466

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

-

1,582

Other creditors

85,004

38,028

85,004

39,610

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

235,817

251,350

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

10.	RELATED PARTY DISCLOSURES

At the balance sheet date the following amounts were owed to related parties by the

company: -

Mr and Mrs Gribble

Directors

£160,803

The loan was interest free, unsecured and carries no fixed term of repayment.

11.	ULTIMATE CONTROLLING PARTY

At the balance sheet date, the ultimate controlling party was D Gribble & Mrs C Gribble.