Hornsearle Property Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09008159 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2019

for

Hornsearle Property Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G A J Horne

D A Searle

REGISTERED OFFICE:

Reedham House

31 King Street West

Manchester

Greater Manchester

M3 2PJ

BUSINESS ADDRESS:

Progress Centre

Charlton Place

Manchester

M12 6HS

REGISTERED NUMBER:

09008159 (England and Wales)

ACCOUNTANTS:

Freedman Frankl & Taylor

Chartered Accountants

Reedham House

31 King Street West

Manchester

M3 2PJ

FIXED ASSETS

Tangible assets

4

2,894

375

Investments

5

198

-

Investment property

6

2,035,000

569,610

2,038,092

569,985

CURRENT ASSETS

Stocks

1,702,923

1,919,755

Debtors

7

518,823

242,376

Cash at bank

35,332

11,028

2,257,078

2,173,159

CREDITORS

Amounts falling due within one year

8

2,486,137

2,264,428

NET CURRENT LIABILITIES

(229,059

)

(91,269

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,809,033

478,716

CREDITORS

Amounts falling due after more than one year

9

(654,324

)

-

PROVISIONS FOR LIABILITIES

(96,819

)

(64

)

NET ASSETS

1,057,890

478,652

CAPITAL AND RESERVES

Called up share capital

11

100

100

Revaluation reserve

12

429,435

-

Retained earnings

628,355

478,552

SHAREHOLDERS' FUNDS

1,057,890

478,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 29 January 2020 and were signed on its behalf by:

D A Searle - Director

1.	STATUTORY INFORMATION

Hornsearle Property Investments 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 statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption

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 subsidiary within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on cost

Computer equipment

-

25% on cost

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

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

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

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.

Going concern

The company's financial statements for the year ended 30 April 2019 have been prepared on a going concern

basis as, after making appropriate enquiries, the directors have a reasonable expectation that the company has

adequate resources to continue in operational existence for the foreseeable future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2018 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 May 2018

-

1,500

1,500

Additions

3,384

250

3,634

At 30 April 2019

3,384

1,750

5,134

DEPRECIATION

At 1 May 2018

-

1,125

1,125

Charge for year

677

438

1,115

At 30 April 2019

677

1,563

2,240

NET BOOK VALUE

At 30 April 2019

2,707

187

2,894

At 30 April 2018

-

375

375

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

£

£

COST

Additions

100

98

198

At 30 April 2019

100

98

198

NET BOOK VALUE

At 30 April 2019

100

98

198

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

569,610

Additions

939,686

Revaluations

525,704

At 30 April 2019

2,035,000

NET BOOK VALUE

At 30 April 2019

2,035,000

At 30 April 2018

569,610

Fair value at 30 April 2019 is represented by:

£

Valuation in 2019

525,704

Cost

1,509,296

2,035,000

If the investment properties had not been revalued they would have been included at the following historical

cost:

2019

2018

£

£

Cost

1,509,296

569,610

Investment properties were valued on an open market basis on 30 April 2019 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

5,465

27,182

Amounts owed by associates

3,525

-

Other debtors

509,833

215,194

518,823

242,376

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

14,846

5,520

Taxation and social security

59,090

55,315

Other creditors

2,412,201

2,203,593

2,486,137

2,264,428

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

654,324

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Other creditors

2,459,198

1,753,138

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

50

A Ordinary

£1

50

50

50

B Ordinary

£1

50

50

100

100

12.

RESERVES

Revaluation

reserve

£

Revaluation of investment properties

525,704

Deferred taxation

(96,269

)

At 30 April 2019

429,435

13.	RELATED PARTY DISCLOSURES

Included in other creditor is the directors' current account balance of £385,764 (2018: £412,735). There are no

fixed repayment terms and no interest is chargeable to the company in respect of this balance.

Included within other debtors is a balance amounting to £501,241 (2018: £77,135) due from companies in which

certain directors of the company are also directors and shareholders. There are no fixed repayment terms and no

interest is chargeable by the company in respect of this balance.

Included within other creditors is a balance amounting to £158,063 (2018: £23,320) to companies in which the

directors of the company are also directors and shareholders. There are no fixed repayment terms and no interest

is chargeable to the company in respect of this balance.