Hope Valley Residential Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10616184 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2020 to 29 March 2021

for

Hope Valley Residential Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

V S Middleton OBE

A J F Harrison

REGISTERED OFFICE:

Newburgh Works

Bradwell

Hope Valley

Derbyshire

S33 9NT

REGISTERED NUMBER:

10616184 (England and Wales)

ACCOUNTANTS:

SMH Haywood & Co Limited

24-26 Mansfield Road

Rotherham

South Yorkshire

S60 2DT

CURRENT ASSETS

Debtors

4

6,000

8,638

Cash at bank

2,006,672

2,168,942

2,012,672

2,177,580

CREDITORS

Amounts falling due within one year

5

(12,790

)

(165,193

)

NET CURRENT ASSETS

1,999,882

2,012,387

TOTAL ASSETS LESS CURRENT LIABILITIES

1,999,882

2,012,387

CAPITAL AND RESERVES

Called up share capital

6

5,281

5,281

Retained earnings

1,994,601

2,007,106

SHAREHOLDERS' FUNDS

1,999,882

2,012,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 March 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 March 2021 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 27 June 2022 and were signed on its behalf by:

A J F Harrison - Director

1.	STATUTORY INFORMATION

Hope Valley Residential 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.

Going concern

The accounts are prepared on the going concern basis.

There are uncertainties regarding the company's ability to continue as a going concern, due to the contingent liability disclosed in these accounts. This contingent liability relates to a settlement that the company and it's parent company is expected to have to pay, as a result of a financial support direction received. At the date of signing the accounts, it is expected that the company will hold sufficient cash at the bank, to settle the best estimate of this potential obligation.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Taxation

Taxation for the period 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 period 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 period was 2 (2020 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

8,159

Other debtors

6,000

479

6,000

8,638

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts owed to related parties

-

5,652

Taxation and social security

-

157,742

Other creditors

12,790

1,799

12,790

165,193

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

5,281,000

Ordinary shares

0.1p

5,281

5,281

7.	CONTINGENT LIABILITIES

The company and it's parent company, are jointly and severally liable for an obligation estimated at £1,970,000, which the companies are expecting to have to settle, in respect of a financial support direction received. The directors believe that the amount of the obligation cannot be estimated reliably, given the case is still ongoing and the outcome is still uncertain. Therefore, this obligation is disclosed as a contingent liability in these accounts.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 29 March 2021 and the year ended 31 March 2020:

2021

2020

£

£

A J F Harrison

Balance outstanding at start of period

-

-

Amounts advanced

6,000

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

6,000

-

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Hope Valley Residential Holdings Limited.

The ultimate controlling party is Trustees of the I Middleton Settlement.