ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

HERITAGE HOUSE MANAGEMENT SERVICES 2011 LTD - Company Information

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Caseware UK (AP4) 2019.0.227 2019.0.227 4The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2019-07-01The company's principal activity during the year continued to be the management of the property at Heritage House on behalf of shareholders.4falsetrue 07679772 2019-07-01 2020-06-30 07679772 2018-07-01 2019-06-30 07679772 2020-06-30 07679772 2019-06-30 07679772 1 2019-07-01 2020-06-30 07679772 d:Director4 2019-07-01 2020-06-30 07679772 c:CurrentFinancialInstruments 2020-06-30 07679772 c:CurrentFinancialInstruments 2019-06-30 07679772 c:CurrentFinancialInstruments c:WithinOneYear 2020-06-30 07679772 c:CurrentFinancialInstruments c:WithinOneYear 2019-06-30 07679772 c:ShareCapital 2020-06-30 07679772 c:ShareCapital 2019-06-30 07679772 c:RetainedEarningsAccumulatedLosses 2020-06-30 07679772 c:RetainedEarningsAccumulatedLosses 2019-06-30 07679772 d:OrdinaryShareClass1 2019-07-01 2020-06-30 07679772 d:OrdinaryShareClass1 2020-06-30 07679772 d:OrdinaryShareClass1 2019-06-30 07679772 d:FRS102 2019-07-01 2020-06-30 07679772 d:AuditExempt-NoAccountantsReport 2019-07-01 2020-06-30 07679772 d:FullAccounts 2019-07-01 2020-06-30 07679772 d:PrivateLimitedCompanyLtd 2019-07-01 2020-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07679772










Heritage House Management Services 2011 Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2020
 
Heritage House Management Services 2011 Ltd
Registered number: 07679772

Balance Sheet
As at 30 June 2020

2020
2019
Note
£
£

  

Current assets
  

Cash at bank and in hand
  
1,051
2,818

Creditors: amounts falling due within one year
 4 
(421)
(384)

Net current assets
  
 
 
630
 
 
2,434

  

Net assets
  
630
2,434


Capital and reserves
  

Called up share capital 
 5 
5
5

Profit and loss account
  
625
2,429

  
630
2,434


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 January 2021.




Ghazwan Butrous
Director


The notes on pages 2 to 4 form part of these financial statements.

Page 1
 
Heritage House Management Services 2011 Ltd
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2020

1.


General information

Heritage House Management Services 2011 Ltd is a limited liability company incorporated in England and Wales. 
The address of the registered office is 37 St Margaret's Street, Canterbury, Kent, CT1 2TU. 
The company's registered number is 07679772.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's functional and presentational currency is Pound Sterling.
The company's financial statements are presented to the nearest Pound.

The following principal accounting policies have been applied:

 
2.2

Going concern

The impact of the Covid-19 virus has been assessed by the directors, so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcome on the company's trade, its customers and suppliers. However, taking into consideration the UK Government's response and the company's planning, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

Page 2
 
Heritage House Management Services 2011 Ltd
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2020

2.Accounting policies (continued)

 
2.5

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2019 - 4).


4.


Creditors: Amounts falling due within one year

2020
2019
£
£

Accruals
421
384

421
384


Page 3
 
Heritage House Management Services 2011 Ltd
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2020

5.


Share capital

2020
2019
£
£
Allotted, called up and fully paid



5 (2019 - 5) Ordinary shares of £1.00 each
5
5


6.


Post balance sheet events

At the time of signing the accounts the directors are aware of the potential economic effects of the Covid-19 virus outbreak. The full impact of the pandemic on the UK economy is yet to be seen, but the company will continue to seek to mitigate this risk by following the UK Government’s guidelines and adapting/developing its own internal strategy. Otherwise, there have been no significant events affecting the company since the year end.


7.


Controlling party

The company's ultimate controlling party is the leaseholders by virtue of their ownership of 100% of the issued share capital in the company. 


Page 4