Seckford Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08473836 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2020

FOR

SECKFORD HOMES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

Mrs C L Evennett

T C Evennett

J A Evennett

REGISTERED OFFICE:

13 St James Villas

Winchester

Hampshire

SO23 9SN

REGISTERED NUMBER:

08473836 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

FIXED ASSETS

Tangible assets

4

330

439

Investment property

5

453,750

412,500

454,080

412,939

CURRENT ASSETS

Debtors

6

2,061

1,427

Cash at bank

2,162

3,090

4,223

4,517

CREDITORS

Amounts falling due within one year

7

355,420

353,904

NET CURRENT LIABILITIES

(351,197

)

(349,387

)

TOTAL ASSETS LESS CURRENT LIABILITIES

102,883

63,552

PROVISIONS FOR LIABILITIES

14,439

11,632

NET ASSETS

88,444

51,920

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

88,096

49,590

Retained earnings

248

2,230

SHAREHOLDERS' FUNDS

88,444

51,920

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2021 and were signed on its behalf by:

Mrs C L Evennett - Director

1.	STATUTORY INFORMATION

Seckford Homes Ltd 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 as modified by the revaluation of certain assets.

Turnover

Turnover is the amount derived from the letting of properties and is stated net of value added tax. Turnover is recognised in the period to which the relevant payments relate as defined by the tenants agreements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Investment property

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Properties are valued using open market valuations on a freehold basis, conducted annually by the directors on the basis of rent yields.

Financial instruments

The company has elected to apply the provisions of section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company balance sheet when the company becomes a party to the contractual provisions of the instrument.

Cash and cash equivalents

Cash and cash equivalents in the balance sheet include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price including transaction costs. Any losses resulting from impairment review at the reporting end date are are recognised in the profit and loss account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

and 30 April 2020

1,417

DEPRECIATION

At 1 May 2019

978

Charge for year

109

At 30 April 2020

1,087

NET BOOK VALUE

At 30 April 2020

330

At 30 April 2019

439

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2019

412,500

Revaluations

41,250

At 30 April 2020

453,750

NET BOOK VALUE

At 30 April 2020

453,750

At 30 April 2019

412,500

Fair value at 30 April 2020 is represented by:

£

Valuation in 2018

29,222

Valuation in 2019

32,000

Valuation in 2020

41,250

Cost

351,278

453,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Other debtors

2,061

1,427

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Net wages control

1,600

1,189

Taxation and social security

50

149

Other creditors

353,770

352,566

355,420

353,904

8.

RESERVES

Fair

value

reserve

£

At 1 May 2019

49,590

Profit and loss account

revaluation

38,506

At 30 April 2020

88,096

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2020 and 30 April 2019:

2020

2019

£

£

Mrs C L Evennett

Balance outstanding at start of year

(57,822

)

(57,573

)

Amounts repaid

(208

)

(249

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(58,030

)

(57,822

)

This loan is provided interest free and repayable on demand.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Seckford Homes Ltd for the year ended 30 April 2020 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Seckford Homes Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Seckford Homes Ltd and state those matters that we have agreed to state to the Board of Directors of Seckford Homes Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Seckford Homes Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Seckford Homes 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 Seckford Homes Ltd. You consider that Seckford Homes 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 Seckford Homes 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.

Rothmans LLP

Chartered Accountants

Avebury House

St Peter Street

Winchester

Hampshire

SO23 8BN

30 January 2021