General Information
Higgihaus Ltd is a company limited by shares and is incorporated in England and Wales. The address of the registered office is 14 Bartley Street , Bedminster, Bristol, BS3 4DB. The nature of the company's operations and its principal activity was the provision serviced accommodation.
The financial statements comprise the unaudited financial statements of the company up to 31 March, and are stated in pound sterling, the company's functional and presentational currency.
| 1. |
Accounting Policies
Significant accounting policies
The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.
The financial statements have been prepared under the historical cost convention and on a going concern basis.
The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the periods presented, unless otherwise stated.
Turnover
Turnover comprises rental income receivable during the period.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leasehold improvements
Leasehold improvements are stated at cost less accumulated amortisation. Amortisation on leasehold improvements is calculated to write off the cost of the improvements over the life of the lease.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Leasehold improvements are stated at cost less accumulated amortisation. Amortisation on leasehold improvements are calculated to write off the cost of the improvements over the life of the lease. Depreciation on tangible fixed assets is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Computer Equipment |
25% Straight Line
|
|
| 2. |
Leasehold Improvements
| Cost |
Other |
|
Total |
| |
£ |
|
£ |
| At 01 March 2018 |
36,636 |
|
36,636 |
| Additions |
46,107 |
|
46,107 |
| Disposals |
- |
|
- |
| At 31 March 2019 |
82,743 |
|
82,743 |
| Amortisation |
| At 01 March 2018 |
7,327 |
|
7,327 |
| Charge for period |
15,609 |
|
15,609 |
| On disposals |
- |
|
- |
| At 31 March 2019 |
22,936 |
|
22,936 |
| Net book values |
| At 31 March 2019 |
59,807 |
|
59,807 |
| At 28 February 2018 |
29,309 |
|
29,309 |
|
| 3. |
Tangible fixed assets
| Cost |
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 March 2018 |
4,938 |
|
5,250 |
|
10,188 |
| Additions |
8,885 |
|
1,417 |
|
10,302 |
| Disposals |
- |
|
- |
|
- |
| At 31 March 2019 |
13,823 |
|
6,667 |
|
20,490 |
| Depreciation |
| At 01 March 2018 |
1,235 |
|
1,313 |
|
2,548 |
| Charge for period |
3,147 |
|
1,338 |
|
4,485 |
| On disposals |
- |
|
- |
|
- |
| At 31 March 2019 |
4,382 |
|
2,651 |
|
7,033 |
| Net book values |
| Closing balance as at 31 March 2019 |
9,441 |
|
4,016 |
|
13,457 |
| Opening balance as at 01 March 2018 |
3,703 |
|
3,937 |
|
7,640 |
|
| 4. |
Share Capital
Allotted
|
2019
£ |
|
2018
£ |
|
1,000
Ordinary shares of £1.00 each |
1,000 |
|
1,000 |
|
1,000 |
|
1,000 |
|
2
|
