HFH Developments Ltd - Accounts to registrar (filleted) - small 18.2
HFH Developments Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 September 2019 |
| for |
| HFH Developments Ltd |
| HFH Developments Ltd (Registered number: 10337447) |
| Contents of the Financial Statements |
| for the Year Ended 30 September 2019 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HFH Developments Ltd |
| Company Information |
| for the Year Ended 30 September 2019 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Eldo House |
| Kempson Way |
| Suffolk Business Park |
| Bury St Edmunds |
| Suffolk |
| IP32 7AR |
| HFH Developments Ltd (Registered number: 10337447) |
| Balance Sheet |
| 30 September 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
| HFH Developments Ltd (Registered number: 10337447) |
| Notes to the Financial Statements |
| for the Year Ended 30 September 2019 |
| 1. | STATUTORY INFORMATION |
| HFH Developments Ltd is a |
| registered number and registered office address can be found on the Company Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Investment property |
| Investment property is shown at fair value. Any aggregate surplus of deficit arising from changes in fair value are |
| recognised in the profit or loss and transferred to an un-distributable reserve. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of financial |
| assets and liabilities such as trade and other accounts receivable and payable, and loans from banks or other |
| related parties. |
| Debt instruments, such as loans and other accounts receivable and payable, are initially measured at present value |
| of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments |
| that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and |
| subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. |
| However if the arrangements of a short-term instrument constitute a financing transaction, such as the payment |
| of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, |
| or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and |
| subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt |
| instrument. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
| objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised |
| in the Statement of Comprehensive Income. |
| For financial assets measured at amortised cost, the impairment loss is measured as the difference between an |
| asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective |
| interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is |
| the current effective interest rate determined under the contract. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between |
| an asset's carrying amount and best estimate, which is an approximation of the amount that the company would |
| receive for the asset if it were to be sold at the balance sheet date. |
| 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. |
| HFH Developments Ltd (Registered number: 10337447) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2019 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Impairment |
| At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but |
| excluding investment properties, are assessed to determine whether there is an indication that the carrying |
| amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an |
| indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and |
| its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, |
| the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is |
| recognised in the income statement. |
| Going concern |
| Having discussed the projected results and cash flows of the company, the directors plan that the company will |
| continue to generate cash in the year ended 30 September 2020 and beyond. The company currently has the |
| support of its directors who will continue to provide in order that the cash demands can be met. Whilst there is |
| always considerable uncertainty in predicting cash flows more than a few months into the future, the directors are |
| confident that the cash demands of the company will be satisfied, and it is therefore appropriate to prepare the |
| financial statements on the going concern basis. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 October 2018 |
| Additions |
| At 30 September 2019 |
| NET BOOK VALUE |
| At 30 September 2019 |
| At 30 September 2018 |
| Investment property has been included at cost as the directors believe this represents the market value of the |
| property. |
| HFH Developments Ltd (Registered number: 10337447) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 September 2019 |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Amounts owed to associates | 36,749 | 4,461 |
| Other creditors |
| Other creditors includes amounts owed to the directors of the company. |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary A | £1 | 100 | 100 |
| Ordinary B | £1 | 100 | - |
| 200 | 100 |