Headtask Limited - Accounts to registrar (filleted) - small 18.2

Headtask Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 02679172 (England and Wales)













HEADTASK LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2019






HEADTASK LIMITED (REGISTERED NUMBER: 02679172)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2019










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEADTASK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2019







DIRECTORS: Mrs S Sissons
M Sissons





REGISTERED OFFICE: Forum House, 1st Floor
15-18 Lime Street
London
EC3M 7AN





REGISTERED NUMBER: 02679172 (England and Wales)





ACCOUNTANTS: Sinclairs Bartrum Lerner
Chartered Accountants
Forum House
First Floor
15-18 Lime Street
London
EC3M 7AN

HEADTASK LIMITED (REGISTERED NUMBER: 02679172)

BALANCE SHEET
31ST JULY 2019

2019 2018
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 24,002 24,218
Investment property 5 500,000 500,000
524,002 524,218

CURRENT ASSETS
Debtors 6 - 3,191
Cash at bank 8,085 7,169
8,085 10,360
CREDITORS
Amounts falling due within one year 7 11,845 6,925
NET CURRENT (LIABILITIES)/ASSETS (3,760 ) 3,435
TOTAL ASSETS LESS CURRENT LIABILITIES 520,242 527,653

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 8 175,090 175,090
Retained earnings 345,150 352,561
SHAREHOLDERS' FUNDS 520,242 527,653

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

HEADTASK LIMITED (REGISTERED NUMBER: 02679172)

BALANCE SHEET - continued
31ST JULY 2019


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24th July 2020 and were signed on its behalf by:





M Sissons - Director


HEADTASK LIMITED (REGISTERED NUMBER: 02679172)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2019


1. STATUTORY INFORMATION

Headtask 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 as modified by the revaluation of certain assets.

The financial statements are prepared in Pound Sterling which is the functional currency of the company and
rounded to nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover comprises revenue recognised by the company in respect of supply of services of broadcasting,
airshows and presentations and rent receivable during the year, exclusive of value added tax and trade
discounts.

Revenue is recognised during the period to which it relates.

Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write
off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following
bases:

Furniture, fittings and office equipment - 25% reducing balance

Investment property
Investment properties are shown at their fair value. Any adjustment to the fair value of the investment
properties is recognised in the profit and loss account for the year.

In accordance with FRS 102 1A no depreciation is provided in respect of freehold properties held as
investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties
to be depreciated. Such properties are held for investment and not for consumption and the directors consider
that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements
reflected in the annual valuation of properties and accordingly the amount of depreciation which might
otherwise have been charged cannot be separately identified or quantified. The directors consider that this
policy results in the financial statements giving a true and fair view.

Debtors & creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

HEADTASK LIMITED (REGISTERED NUMBER: 02679172)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2019


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1st August 2018
and 31st July 2019 23,353 66,913 90,266
DEPRECIATION
At 1st August 2018 - 66,048 66,048
Charge for year - 216 216
At 31st July 2019 - 66,264 66,264
NET BOOK VALUE
At 31st July 2019 23,353 649 24,002
At 31st July 2018 23,353 865 24,218

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1st August 2018
and 31st July 2019 500,000
NET BOOK VALUE
At 31st July 2019 500,000
At 31st July 2018 500,000

Fair value at 31st July 2019 is represented by:

£
Valuation in 2017 500,000

In the opinion of the directors, the investment property is valued at fair value (which is the open market value)
at the balance sheet at £500,000.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£ £
Other debtors - 3,191

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2019 2018
£ £
Other creditors 11,845 6,925

HEADTASK LIMITED (REGISTERED NUMBER: 02679172)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2019


8. RESERVES
Fair value
reserve
£
At 1st August 2018
and 31st July 2019 175,090