Homestead Properties Limited - Period Ending 2019-10-31
Homestead Properties Limited - Period Ending 2019-10-31
Registration number:
Homestead Properties Limited
for the Year Ended 31 October 2019
Chartered Certified Accountants
1007 London Road
Leigh-On-Sea
Essex
SS9 3JY
Homestead Properties Limited
Contents
|
Company Information |
|
|
Accountants' Report |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Homestead Properties Limited
Company Information
|
Director |
Mr Lewis Adams |
|
Company secretary |
Miss Danielle Adams |
|
Registered office |
|
|
Accountants |
|
|
Page 1 |
Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Homestead Properties Limited
for the Year Ended 31 October 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Homestead Properties Limited for the year ended 31 October 2019 as set out on pages 3 to 5 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Homestead Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of the Company and state those matters that we have agreed to state to the Board of Directors of the Company, as a body, in this report in accordance with
the requirements of the Association of Chartered Certified Accountants as detailed at
http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/october/factsheet
-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Homestead Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of the Company. You consider that Homestead Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of the Company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Certified Accountants
Leigh-On-Sea
Essex
SS9 3JY
|
Page 2 |
Homestead Properties Limited
(Registration number: 04095383)
Balance Sheet as at 31 October 2019
|
Note |
2019 |
2018 |
|
|
Fixed assets |
|||
|
Investment property |
|
- |
|
|
Current assets |
|||
|
Cash at bank and in hand |
|
|
|
|
Creditors: Amounts falling due within one year |
( |
- |
|
|
Net current (liabilities)/assets |
( |
|
|
|
Net (liabilities)/assets |
( |
|
|
|
Capital and reserves |
|||
|
Called up share capital |
4 |
3 |
|
|
Profit and loss account |
(460) |
- |
|
|
Total equity |
(456) |
3 |
For the financial year ending 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
|
• |
|
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
|
Page 3 |
Homestead Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019
|
General information |
The company is a private company limited by share capital, incorporated in UK.
The address of its registered office is:
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
|
Page 4 |
Homestead Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 October 2019
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
|
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
|
Investment properties |
|
2019 |
|
|
Additions |
|
There has been no valuation of investment property by an independent valuer.
|
Creditors |
Creditors: amounts falling due within one year
|
2019 |
2018 |
|
|
Due within one year |
||
|
Other creditors |
|
- |
|
Share capital |
Allotted, called up and fully paid shares
|
2019 |
2018 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
4 |
|
3 |
|
Page 5 |