| Headley Estates & Developments Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Headley Estates & Developments Limited for the year ended 31 December 2014 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Headley Estates & Developments Limited for the year ended 31 December 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Headley Estates & Developments Limited, as a body, in accordance with the terms of our engagement letter dated 19 September 2012. Our work has been undertaken solely to prepare for your approval the accounts of Headley Estates & Developments Limited and state those matters that we have agreed to state to the Board of Directors of Headley Estates & Developments Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Headley Estates & Developments Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Headley Estates & Developments Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Headley Estates & Developments Limited. You consider that Headley Estates & Developments Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of Headley Estates & Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts. |
|
| Lefevres Limited |
| Chartered Accountants |
| 24 Bell Lane |
| Blackwater |
| Camberley |
| Surrey |
| GU17 0NW |
|
| 19 March 2015 |
|
| Headley Estates & Developments Limited |
| Registered number: |
05660199 |
| Abbreviated Balance Sheet |
| as at 31 December 2014 |
|
| Notes |
|
|
2014 |
|
|
2013 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
- |
|
|
1,900,000 |
|
| Current assets |
| Debtors |
|
|
125,903 |
|
|
49,941 |
| Cash at bank and in hand |
|
|
145,563 |
|
|
20,543 |
|
|
|
271,466 |
|
|
70,484 |
|
| Creditors: amounts falling due within one year |
|
|
(18,167) |
|
|
(528,594) |
|
| Net current assets/(liabilities) |
|
|
|
253,299 |
|
|
(458,110) |
|
| Total assets less current liabilities |
|
|
|
253,299 |
|
|
1,441,890 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
- |
|
|
(1,620,057) |
|
|
|
| Net assets/(liabilities) |
|
|
|
253,299 |
|
|
(178,167) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
3 |
|
|
1 |
|
|
1 |
| Profit and loss account |
|
|
|
253,298 |
|
|
(178,168) |
|
| Shareholder's funds |
|
|
|
253,299 |
|
|
(178,167) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| Mr P Tracey |
| Director |
| Approved by the board on 19 March 2015 |
|
| Headley Estates & Developments Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2014 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Investment Properties |
|
Investment properties are shown at their open market value, The surplus or deficit arising from annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value is of prime importance. The departure from the provisions of the Act is required to give a true and fair value. |
|
|
Financial instruments |
|
Financial liabilities and equity instruments are classified accordingly to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
|
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2014 |
1,900,000 |
|
Disposals |
(1,900,000) |
|
At 31 December 2014 |
- |
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2014 |
- |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2014 |
- |
|
At 31 December 2013 |
1,900,000 |
|
|
|
|
|
|
|
|
| 3 |
Share capital |
Nominal |
|
2014 |
|
2014 |
|
2013 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
1 |
|
1 |
|
1 |
|
|
|
|
|
|
|
|
|
