PH (Heys Green) Limited - Accounts to registrar (filleted) - small 18.2
PH (Heys Green) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2019 |
for |
PH (Heys Green) Limited |
PH (Heys Green) Limited (Registered number: 09650169) |
Contents of the Financial Statements |
for the year ended 30 June 2019 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PH (Heys Green) Limited |
Company Information |
for the year ended 30 June 2019 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
St George's Court |
Winnington Avenue |
Northwich |
Cheshire |
CW8 4EE |
PH (Heys Green) Limited (Registered number: 09650169) |
Balance Sheet |
30 June 2019 |
2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 behalf by: |
PH (Heys Green) Limited (Registered number: 09650169) |
Notes to the Financial Statements |
for the year ended 30 June 2019 |
1. | STATUTORY INFORMATION |
PH (Heys Green) Limited 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 |
Turnover |
Turnover represents the amounts receivable from the sale of properties, ground rents and other income directly associated |
with property development. Properties are treated as sold and profits are recognised when contracts are exchanged and the |
building work is physically complete. |
Property sales are recognised as debtors when invoiced and otherwise held within accrued income. |
Work-in-progress |
The Company hold work-in-progress which is stated at the lower of cost and net realisable value. To assess the net realisable |
value of land held for development and housing work-in-progress, the Company assesses the likely revenue which will be |
generated when these sites are converted into residential properties and sold. Where it is assessed that the revenue generated |
will exceed costs expended to date and costs to bring the properties in saleable condition, work-in-progress is stated at cost. |
Where it is assessed that the revenue generated will be lower, work-in-progress is stated at net realisable value. |
Work-in-progress includes land and associated acquisition costs, direct materials and subcontract work, other direct costs |
and those overheads (based on normal operating capacity) that have been incurred in bringing the stocks to their present |
location and condition. |
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. |
PH (Heys Green) Limited (Registered number: 09650169) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2019 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank |
overdrafts are shown within borrowings in current liabilities. |
Share capital |
Ordinary shares are classed as equity. |
Short term debtors and creditors |
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any |
losses arising from impairment are recognised in the profit and loss account. |
Borrowing costs |
Borrowing costs directly attributable to the acquisition and construction of the Company's development land (considered to |
be qualifying assets) are included as part of the cost of that asset. Borrowing costs are capitalised from the point expenditure |
is incurred and cease when substantially all the activities are complete. All other borrowing costs are recognised in the profit |
and loss in the period in which they are incurred. |
Deposits |
New property deposits and on account property contract receipts are shown within other creditors. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2018 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
VAT |
Prepayments & accrued income |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
Tax |
Other creditors |
Due to group undertakings | 1,460,159 | 624,730 |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
7. | ULTIMATE PARENT COMPANY |
P H Property Holdings Limited is regarded by directors as being the company's ultimate parent company. The registered |
office of the ultimate parent company is the same as PH (Heys Green) Limited and can be found on the Company |
Information page. |