Horseshoe Close Ltd 30/06/2020 iXBRL
Horseshoe Close Ltd 30/06/2020 iXBRL
Company registration number:
05848597
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Company number |
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Registered office |
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Business address |
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Accountants |
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75 High Street | ||
Boston | ||
Lincolnshire | ||
PE21 8SX | ||
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Horseshoe Close Ltd
Year ended 30 June 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Horseshoe Close Ltd for the year ended 30 June 2020 which comprise the statement of financial position and related notes 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 http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Horseshoe Close Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Horseshoe Close Ltd and state those matters that we have agreed to state to the board of directors of Horseshoe Close Ltd 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/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Horseshoe Close Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Horseshoe Close Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Horseshoe Close Ltd. You consider that Horseshoe Close Ltd 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 financial statements of Horseshoe Close Ltd. 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 financial statements.
ACCA
75 High Street
Boston
Lincolnshire
PE21 8SX
29 October 2020
Statement of financial position
30 June 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital | 9 |
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Fair value reserve |
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Profit and loss account |
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Shareholders funds |
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_______ | _______ | ||||||||
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
29 October 2020
, and are signed on behalf of the board by:
Director
Company registration number:
05848597
Notes to the financial statements
Year ended 30 June 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is Horseshoe Close Ltd, Station Road, Old Leake Commonside, Boston, Lincs, PE22 9QJ.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property | - | No depreciation | |
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2019:
1
).
5.
Tangible assets
Freehold property | Total | ||
£ | £ | ||
Cost | |||
At 1 July 2019 and 30 June 2020 |
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Depreciation | |||
At 1 July 2019 and 30 June 2020 | - | - | |
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Carrying amount | |||
At 30 June 2020 |
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At 30 June 2019 |
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Investment property
The properties are valued by the director at the end of the financial year on a fair value basis. The original cost was £577,000.
6.
Debtors
2020 | 2019 | |||
£ | £ | |||
Other debtors |
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_______ | _______ | |||
7.
Creditors: amounts falling due within one year
2020 | 2019 | |||
£ | £ | |||
Corporation tax |
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Other creditors |
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8.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Bank loans and overdrafts |
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_______ | _______ | |||
Included within creditors: amounts falling due after more than one year is an amount of £ 515,000
(2019 £ 515,000 ) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
The bank loan is secured by a first legal charge dated 27 October 2006 over the freehold properties and an unlimited debenture dated 28 February 2007 from the company. They also hold an all monies guarantee dated 15 February 2007 from the director for a principle sum of £50000.
9.
Called up share capital
Issued, called up and fully paid
2020 | 2019 | ||||||||
No | £ | No | £ | ||||||
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270 | 270 | 270 | 270 | |||||
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30 | 30 | 30 | 30 | |||||
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300 |
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300 |
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