London H.M.O's Limited 31/08/2020 iXBRL
London H.M.O's Limited 31/08/2020 iXBRL
Company registration number:
05910895
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Directors and other information
Directors |
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Secretary |
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Company number |
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Registered office |
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Accountants |
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Chartered Accountants | ||
First Floor | ||
64 Baker Street | ||
London | ||
W1U 7GB | ||
Statement of financial position
31 August 2020
2020 | 2019 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Debtors | 6 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 7 |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
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Provisions for liabilities |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors
and authorised for issue on
26 May 2021
, and are signed on behalf of the board by:
Company registration number:
05910895
Notes to the financial statements
Year ended 31 August 2020
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is No 3 Hampstead West, 224 Iverson Road, London, NW6 2HX.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Taxation
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land and buildings | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2019:
2
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5.
Tangible assets
Freehold property | Total | ||
£ | £ | ||
Cost or valuation | |||
At 1 September 2019 |
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Revaluation adjustment |
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At 31 August 2020 |
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Depreciation | |||
At 1 September 2019 and 31 August 2020 | - | - | |
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Carrying amount | |||
At 31 August 2020 |
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At 31 August 2019 |
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Investment property
The Freehold property has been stated at a value provided by M Smith. M Smith does not hold any professional property surveying qualification but relies on his vast business expertise to value the property.
6.
Debtors
2020 | 2019 | |||
£ | £ | |||
Other debtors |
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7.
Creditors: amounts falling due within one year
2020 | 2019 | |||
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Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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8.
Creditors: amounts falling due after more than one year
2020 | 2019 | |||
£ | £ | |||
Bank loans | 405,603 | 422,773 | ||
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Loans advanced to the company are secured against the properties owned by the company.