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

REGISTERED NUMBER: 08068441 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2020

FOR

Hawkstead Limited

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Directors:

Mr D Gribble

Mrs C Gribble

Registered office:

Stowford House

Down Park Drive

Tavistock

Devon

PL19 9AH

Registered number:

08068441 (England and Wales)

Accountants:

Nigel Webster & Co

129 North Hill

Plymouth

Devon

PL4 8JY

Fixed assets

Tangible assets

4

-

-

Investment property

5

463,500

300,000

463,500

300,000

Current assets

Debtors

6

2,098

1,411

Cash at bank

145,961

11,317

148,059

12,728

Creditors

Amounts falling due within one year

7

31,986

85,004

Net current assets/(liabilities)

116,073

(72,276

)

Total assets less current liabilities

579,573

227,724

Creditors

Amounts falling due after more than one year

8

447,839

235,817

Net assets/(liabilities)

131,734

(8,093

)

Capital and reserves

Called up share capital

10

100

100

Fair value reserve

11

163,500

-

Retained earnings

(31,866

)

(8,193

)

Shareholders' funds

131,734

(8,093

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2020 and were signed on its behalf by:

Mr D Gribble - Director

1.	STATUTORY INFORMATION

Hawkstead 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 statments have been prepared under the historical cost convention as modified

by the revaluation of certain fixed assets.

These financial statements have been prepared on a going concern basis. The company is

dependant on the support of the directors who have a loan account of £122,116 included

within creditors. The directors do not intend to withdraw these funds within 12 months.

Turnover

Turnover represents rents receivable inclusive of any amounts in arrears or advance at the

balance sheet date.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any

accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other

than freehold land, at rates calculated to write off the cost, less estimated residual value, of

each asset evenly over its expected useful life, as follows:

Office equipment

33% straight line

Investment property

Not depreciated

Investment property

Investment property is carried at fair value, and shown at it's most recent valuation. Any

changes in fair value are recognised in the profit and loss.

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price),

less any impairment losses for bad and doubtful debts. Loans and other financial assets are

initially recognised at transaction price including any transaction costs and subsequently

measured at amortised cost determined using the effective interest method, less any

impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price).

Loans and other financial liabilities are initially recognised at transaction price net of any

transaction costs and subsequently measured at amortised cost determined using the

effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 June 2019

471

Disposals

(471

)

At 31 May 2020

-

Depreciation

At 1 June 2019

471

Eliminated on disposal

(471

)

At 31 May 2020

-

Net book value

At 31 May 2020

-

5.	INVESTMENT PROPERTY

Total

£

Fair value

At 1 June 2019

300,000

Revaluations

163,500

At 31 May 2020

463,500

Net book value

At 31 May 2020

463,500

At 31 May 2019

300,000

The investment property was valued on 16th December 2019 by Commercial lenders as part

of remortgage.

Fair value at 31 May 2020 is represented by:

£

Valuation in 2019

463,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

2,098

1,411

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Mortgage

-

14,088

Other creditors

31,986

70,916

31,986

85,004

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Mortgage

352,839

140,817

Other creditors

95,000

95,000

447,839

235,817

9.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Mortgage

352,839

154,905

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

11.

RESERVES

Fair

value

reserve

£

Transfer of reserves

163,500

At 31 May 2020

163,500

12.	RELATED PARTY DISCLOSURES

At the balance sheet date the following amounts were owed to related parties by the

company: -

Mr and Mrs Gribble

Directors

£122,116

The loan was unsecured and carries no fixed term of repayment. Interest was charged on

the loan.

13.	ULTIMATE CONTROLLING PARTY

The company was controlled by its directors throughout the period.