Hispania Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06426150 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

HISPANIA PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Mitchell

Wilton Directors Limited

SECRETARY:

Wilton Corporate Services Limited

REGISTERED OFFICE:

26 Grosvenor Street

Mayfair

London

W1K 4QW

REGISTERED NUMBER:

06426150 (England and Wales)

ACCOUNTANT:

Wilton

26 Grosvenor Street

Mayfair

London

W1K 4QW

FIXED ASSETS

Investments

4

1

-

Investment property

5

-

359,514

1

359,514

CREDITORS

Amounts falling due within one year

6

7,345

43,313

NET CURRENT LIABILITIES

(7,345

)

(43,313

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(7,344

)

316,201

CREDITORS

Amounts falling due after more than one year

7

-

330,162

NET LIABILITIES

(7,344

)

(13,961

)

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

(7,345

)

(13,962

)

SHAREHOLDERS' FUNDS

(7,344

)

(13,961

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 on 13 March 2020 and were signed on its behalf by:

Wilton Directors Limited - Director

1.	STATUTORY INFORMATION

Hispania Properties 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.

The financial statements are prepared on a going concern basis. The Director is of the

opinion that adequate financial support is available to the Company to ensure it remains in

operational existence into the foreseeable future.

Investment property

Investment properties are stated at lower of cost and fair market value.

Taxation

A tax liability arose during the year ending 31 December 2018 as a result of the disposal of

an investment property. No tax liability arose for the period ending 31 December 2017.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

1

At 31 December 2019

1

NET BOOK VALUE

At 31 December 2019

1

5.	INVESTMENT PROPERTY

The Company owned five properties during the year, however, they were all transferred to

Polya in December 2019 in exchange for a €1 share. A breakdown of these and their cost is

set out below.

161-U - Rua do Cruzeiro, Devesinha, 4610-414 Felgueiras

282-R - Undeveloped land held in Uniao Freg de Margaride

748-R - Undeveloped land held in Uniao Freg de Margaride

2351-U - Lugar Das Campas, Campas, 4610-409 Felgueiras

4200-U - 12 Rua Conego Morgado, Marinhas, 4740-575 Esposende

Property Reference

161-U

748-R

2351-U

4200-U

Total

£

£

£

£

£

Cost as at 1 January 2019

26,594

32

39,660

293,228

359,514

Additions

-

-

-

-

-

Disposals

(26,594

)

(32

)

(39,66 0-

)

(293,22 8

)

(359,514

Cost as at 31 December 2019

-

-

-

-

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Corporation tax

-

4,769

Other creditors

4,171

36,544

Accruals and deferred income

3,174

2,000

7,345

43,313

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

-

330,162

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

1

Ordinary

1

1

1

9.

RESERVES

Retained

earnings

£

At 1 January 2019

(13,962

)

Profit for the year

6,617

At 31 December 2019

(7,345

)

10.	RELATED PARTY DISCLOSURES

During the period the company incurred fees from Wilton UK (Group) Limited. N Mitchell

served as directors to the company and Wilton UK (Group) Limited. The fees incurred were

in respect of outsourced accounting, company secretarial and taxation services. The cost

recognised in the accounts for these fees is £1,632 (2017: £4,546).

11.	ULTIMATE CONTROLLING PARTY

Flatwoods Limited (incorporated in Isle of Man) is regarded by the directors as being the

company's ultimate parent company.