HYDEHEAD_LIMITED - Accounts

HYDEHEAD LIMITED - Company Information

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Company Registration No. 1907114 (England and Wales)

HYDEHEAD LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2014

HYDEHEAD LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HYDEHEAD LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

20,552

20,738

Investments

8,083

28,635

28,821

Current assets

Debtors

132,508

177,670

Cash at bank and in hand

12,460

11,839

144,968

189,509

Creditors: amounts falling due within one year

(231,960)

(208,841)

Net current liabilities

(86,992)

(19,332)

Total assets less current liabilities

(58,357)

9,489

Capital and reserves

Called up share capital

750

Revaluation reserve

4,179

Other reserves

250

Profit and loss account

(63,536)

4,310

Shareholders' funds

(58,357)

9,489

For the financial year ended 30 June 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 March 2015

Mrs S C Greaves

Mr B M Greaves

Director

Company Registration No. 1907114

HYDEHEAD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

These accounts have been prepared on a going concern basis on the understanding that the company will continue to receive support from its associated companies. The directors have confirmed this support will continue for the foreseeable future.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for property management services and rent.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets include investment properties valued by the directors on an existing use open market value basis. Other tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% per annum reducing balance basis

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

HYDEHEAD LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2014

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 July 2013 & at 30 June 2014

30,947

8,083

39,030

Depreciation

At 1 July 2013

10,209

Charge for the year

186

At 30 June 2014

10,395

Net book value

At 30 June 2014

20,552

8,083

28,635

At 30 June 2013

20,738

8,083

28,821

Share capital

2014

2013

Allotted, called up and fully paid

750 Ordinary shares of £1 each

750