Huron Property Investments Limited - Accounts to registrar (filleted) - small 18.2
Huron Property Investments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2020 |
FOR |
HURON PROPERTY INVESTMENTS LIMITED |
HURON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10178688) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 May 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HURON PROPERTY INVESTMENTS LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 May 2020 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
HURON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10178688) |
BALANCE SHEET |
31 May 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HURON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10178688) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 May 2020 |
1. | STATUTORY INFORMATION |
Huron Property Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
The company recognises rental income on a straight line basis over the lease term. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less impairment. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Short term financial assets, including trade and other debtors and cash and bank balances, are measured at the transaction price. Financial assets that have no stated interest rate and are recoverable within one year shall be measured at the undiscounted amount due. |
Short term financial liabilities, including trade and other creditors, are measured at the transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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 NIL (2019 - NIL). |
HURON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10178688) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2020 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 June 2019 |
Impairments | ( |
) |
At 31 May 2020 |
NET BOOK VALUE |
At 31 May 2020 |
At 31 May 2019 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2019 |
Additions |
Disposals | ( |
) |
At 31 May 2020 |
NET BOOK VALUE |
At 31 May 2020 |
At 31 May 2019 |
As at 31 May 2020 the directors consider the fair value of the freehold investment property to be £4,028,327. |
6. | DEBTORS |
2020 | 2019 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by participating interests | 8,661,215 | 8,745,834 |
Other debtors |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Loan notes |
Other debtors | 2,837,685 | - |
Aggregate amounts |
HURON PROPERTY INVESTMENTS LIMITED (REGISTERED NUMBER: 10178688) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 May 2020 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Other loans |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to participating interests | - | 260,000 |
Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts | 13,513,915 | 18,644,553 |
Accruals and deferred income |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | 1.00 | 102 | 102 |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Transactions with participating interests |
At the year end a total of £8,661,215 (2019: £8,745,834) is owed from certain participating interests and a total of £Nil (2019: £260,000) is owed to certain participating interests. |
Loan transactions |
At the year end there is a loan balance owing to a certain director of £13,513,915 (2019: £18,644,553). |
At the year end there are loan balances owing to a director's family members of £1,874,623 (2019: £1,564,623) these are included within other loans. |