Hilbre Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03939324 (England and Wales)

Financial Statements for the Year Ended 31 October 2019

for

Hilbre Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S H Roberts

K McKinney

J M McKinney

SECRETARY:

S H Roberts

REGISTERED OFFICE:

Unit 1 Suite 4

Carr Lane

Hoylake

Wirral

Merseyside

CH47 4AZ

REGISTERED NUMBER:

03939324 (England and Wales)

ACCOUNTANTS:

Cobham Murphy Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Tangible assets

4

2,020

152,377

Investments

5

2,139,633

2,345,336

Investment property

6

3,205,740

3,213,122

5,347,393

5,710,835

CURRENT ASSETS

Stocks

678,736

464,462

Debtors

7

927,506

1,833,711

Cash at bank and in hand

1,700,268

1,108,720

3,306,510

3,406,893

CREDITORS

Amounts falling due within one year

8

1,131,073

1,171,259

NET CURRENT ASSETS

2,175,437

2,235,634

TOTAL ASSETS LESS CURRENT LIABILITIES

7,522,830

7,946,469

CREDITORS

Amounts falling due after more than one year

9

-

(602,877

)

PROVISIONS FOR LIABILITIES

(171,835

)

(171,123

)

NET ASSETS

7,350,995

7,172,469

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Share premium

730,000

730,000

Retained earnings

6,617,995

6,439,469

SHAREHOLDERS' FUNDS

7,350,995

7,172,469

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

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

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 30 September 2020 and were signed on its behalf by:

S H Roberts - Director

1.	STATUTORY INFORMATION

Hilbre Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received for net property sales and management fees

excluding value added tax. Turnover is accounted for in the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less any impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 profit

and loss.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2018 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2018

169,196

Reclassification/transfer

(150,000

)

At 31 October 2019

19,196

DEPRECIATION

At 1 November 2018

16,819

Charge for year

357

At 31 October 2019

17,176

NET BOOK VALUE

At 31 October 2019

2,020

At 31 October 2018

152,377

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in joint

undertakings

venture

Totals

£

£

£

COST

At 1 November 2018

2,100,000

245,336

2,345,336

Additions

-

194,297

194,297

Disposals

-

(400,000

)

(400,000

)

At 31 October 2019

2,100,000

39,633

2,139,633

NET BOOK VALUE

At 31 October 2019

2,100,000

39,633

2,139,633

At 31 October 2018

2,100,000

245,336

2,345,336

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2018

3,213,122

Additions

42,754

Disposals

(200,136

)

Reclassification/transfer

150,000

At 31 October 2019

3,205,740

NET BOOK VALUE

At 31 October 2019

3,205,740

At 31 October 2018

3,213,122

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Other debtors

927,506

1,833,711

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.19

31.10.18

£

£

Bank loans and overdrafts

604,339

67,012

Taxation and social security

81,641

400,944

Other creditors

445,093

703,303

1,131,073

1,171,259

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.19

31.10.18

£

£

Bank loans

-

602,877

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.19

31.10.18

£

£

Bank loans

604,339

669,889

11.	RELATED PARTY DISCLOSURES

Included in other debtors at the balance sheet date is £537,911 (2018 - £509,506) owed to the company by Links

Estates Limited. The director Mr S H Roberts is also a director of Links Estates LImited.

Included in other debtors at the balance sheet date is £1,163 owed to the company by Hoylake Estates Limited.

The directors Mr S H Roberts and Mr K McKinney are also directors of Hoylake Estates LImited.

Included in other creditors at the balance sheet date is £19,194 (2018 - £19,450) owed from the company to

Hilbre Estates (Clwyd) Limited. The director Mr S H Roberts is also a director of Hilbre Estates (Clwyd)

Limited.

Included in other debtors at the balance sheet date is £166,600 owed to the company by HSBB Limited. The

director Mr S H Roberts is also a director of HSBB LImited.

These loans are interest free and repayable on demand.