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

REGISTERED NUMBER: 10178688 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2019

FOR

HURON PROPERTY INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S B Best

Mrs J A Best

D A Cornes

REGISTERED OFFICE:

Whelco Place

Enfield Industrial Estate

Enfield Street

Wigan

Lancashire

WN5 8DB

REGISTERED NUMBER:

10178688 (England and Wales)

ACCOUNTANTS:

Fairhurst

Chartered Accountants

Douglas Bank House

Wigan Lane

Wigan

Lancashire

WN1 2TB

FIXED ASSETS

Investments

3

167,397

167,397

Investment property

4

10,239,989

10,889,989

10,407,386

11,057,386

CURRENT ASSETS

Debtors

5

13,057,692

16,553,982

Cash at bank and in hand

2,320,606

292,504

15,378,298

16,846,486

CREDITORS

Amounts falling due within one year

6

21,092,558

24,423,850

NET CURRENT LIABILITIES

(5,714,260

)

(7,577,364

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,693,126

3,480,022

CAPITAL AND RESERVES

Called up share capital

7

102

102

Retained earnings

4,693,024

3,479,920

SHAREHOLDERS' FUNDS

4,693,126

3,480,022

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 applicable to companies subject to the small companies regime.

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 February 2020 and were signed on its behalf by:

S B Best - Director

1.	STATUTORY INFORMATION

Huron 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.

Turnover

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

value added tax and other sales taxes.

The company recognises rental income on a straight line basis over the lease term.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less impairment.

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.

Financial instruments

Short term financial assets, including trade and other debtors and cash and bank balances, are measured at the

transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be

measured at the undiscounted amount due.

Short term financial liabilities, including trade and other creditors, are measured at the transaction price.

Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the

undiscounted amount due.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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

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.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2018

and 31 May 2019

167,397

NET BOOK VALUE

At 31 May 2019

167,397

At 31 May 2018

167,397

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2018

10,889,989

Disposals

(650,000

)

At 31 May 2019

10,239,989

NET BOOK VALUE

At 31 May 2019

10,239,989

At 31 May 2018

10,889,989

As at 31 May 2019 the directors consider the fair value of the freehold investment property to be £10,239,989.

5.

DEBTORS

2019

2018

£

£

Amounts falling due within one year:

Trade debtors

18,400

6,989

Amounts owed by participating interests

8,745,834

13,005,796

Other debtors

2,817,685

2,477,685

Prepayments and accrued income

475,773

63,512

12,057,692

15,553,982

Amounts falling due after more than one year:

Loan notes

1,000,000

1,000,000

Aggregate amounts

13,057,692

16,553,982

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other loans

1,564,623

1,564,623

Trade creditors

176,447

-

Amounts owed to group undertakings

132,433

135,103

Amounts owed to participating interests

260,000

255,511

Tax

70,005

-

Social security and other taxes

3,361

21,243

Other creditors

200,000

123

Directors' current accounts

18,644,553

21,776,450

Accrued expenses

41,136

670,797

21,092,558

24,423,850

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

102

Ordinary

1.00

102

102

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.