Ulla Homes Limited - Period Ending 2019-02-28
Ulla Homes Limited - Period Ending 2019-02-28
Registration number:
Ulla Homes Limited
for the Year Ended 28 February 2019
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG
Ulla Homes Limited
(Registration number: 05055681)
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Ulla Homes Limited
(Registration number: 05055681)
Company Information
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Directors |
Mr P Simms Ms S A Pitt |
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Registered office |
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Accountants |
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Page 1 |
Ulla Homes Limited
(Registration number: 05055681)
Balance Sheet as at 28 February 2019
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Note |
2019 |
2018 |
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Fixed assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current (liabilities)/assets |
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Net (liabilities)/assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Director
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Page 2 |
Ulla Homes Limited
(Registration number: 05055681)
Notes to the Financial Statements for the Year Ended 28 February 2019
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The company has net liabilities. The director will continue to support the company for the foreseeable future and all liabilities will be settled as they fall due. The financial statements have therefore been prepared on a going concern basis.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Equipment |
25% straight line |
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Page 3 |
Ulla Homes Limited
(Registration number: 05055681)
Notes to the Financial Statements for the Year Ended 28 February 2019
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Tangible assets |
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Other tangible assets |
Total |
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Cost or valuation |
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At 1 March 2018 |
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At 28 February 2019 |
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Depreciation |
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At 1 March 2018 |
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At 28 February 2019 |
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Carrying amount |
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At 28 February 2019 |
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At 28 February 2018 |
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Page 4 |
Ulla Homes Limited
(Registration number: 05055681)
Notes to the Financial Statements for the Year Ended 28 February 2019
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Investments |
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2019 |
2018 |
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Investments in associates |
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Associates |
£ |
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Cost |
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At 1 March 2018 |
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At 28 February 2019 |
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Carrying amount |
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At 28 February 2019 |
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At 28 February 2018 |
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Creditors |
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2019 |
2018 |
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Due within one year |
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Other creditors |
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Accrued expenses |
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Non adjusting events after the financial period |
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Page 5 |