Harlequin New Homes (Ascot) Limited - Accounts to registrar (filleted) - small 18.2
Harlequin New Homes (Ascot) Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
HARLEQUIN NEW HOMES (ASCOT) LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 10 FEBRUARY 2021 TO 30 NOVEMBER 2021 |
HARLEQUIN NEW HOMES (ASCOT) LIMITED (REGISTERED NUMBER: 13193386) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 FEBRUARY 2021 TO 30 NOVEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Chartered Accountants' Report | 6 |
HARLEQUIN NEW HOMES (ASCOT) LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 10 FEBRUARY 2021 TO 30 NOVEMBER 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants and Tax Advisors |
26 Main Avenue |
Moor Park |
HA6 2HJ |
HARLEQUIN NEW HOMES (ASCOT) LIMITED (REGISTERED NUMBER: 13193386) |
BALANCE SHEET |
30 NOVEMBER 2021 |
Notes | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
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 |
HARLEQUIN NEW HOMES (ASCOT) LIMITED (REGISTERED NUMBER: 13193386) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 10 FEBRUARY 2021 TO 30 NOVEMBER 2021 |
1. | STATUTORY INFORMATION |
Harlequin New Homes (Ascot) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The company meets its day-to-day working capital requirements through its loan facilities and support from group companies. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future; taken to be 12 months from signing the financial statements. No material uncertainties that cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The company therefore continues to adopt the going concern basis in preparing its financial statements. |
Related party exemption |
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. |
Stocks |
Stocks, including land held for and in the course of development, are valued at the lower of cost and net realisable value. Cost comprises direct materials and, where appropriate, labour and production overheads which have been incurred in bringing the stocks and work in progress to their present location and condition. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. |
Stocks are valued on a first in, first out (FIFO) basis. |
Land stock is recognised at the time a commitment to purchase the land is made, generally at exchange of unconditional contracts. |
Property stock, which represents all development land and work in progress, is included at cost less any losses foreseen in completing and disposing of the development less any amounts received or receivable as progress payments or part disposals. Where a property is being developed, cost includes cost of acquisition and development to date, including directly attributable fees, expenses and finance charges attributable to the development. |
Financial instruments |
a) Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
b) Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
Cash at bank |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
HARLEQUIN NEW HOMES (ASCOT) LIMITED (REGISTERED NUMBER: 13193386) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 FEBRUARY 2021 TO 30 NOVEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
The tax expense for the year comprises current and deferred tax. |
Tax is recognised in profit or loss except that a change 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. |
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: |
- | the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
- | any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. |
Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by participating interests | 29,308 |
Other debtors |
Amounts owed by group undertakings and amounts owed by participating interests are unsecured, non-interest bearing, have no fixed terms of repayment and is considered payable on demand. |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to participating interests | 19,937 |
Other creditors |
Amounts owed to group undertakings and amounts owed to participating interests are unsecured, non-interest bearing, have no fixed terms of repayment and is considered payable on demand. |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Other creditors |
HARLEQUIN NEW HOMES (ASCOT) LIMITED (REGISTERED NUMBER: 13193386) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 10 FEBRUARY 2021 TO 30 NOVEMBER 2021 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Other loans |
Other loans are secured by way of legal registered charges. The charges are secured over the freehold property concerned, including fixed and floating charges over all the company's assets. The charges contain a negative pledge. |
Other loans have no fixed terms of repayment and are considered payable on demand. |
8. | ULTIMATE CONTROLLING PARTY |
The ultimate parent undertaking and controlling party is Harlequin New Homes Limited (a private limited company incorporated in England and Wales). |
There has been no change between the reporting date and date of approval of the financial statements. |
9. | IMPACT OF THE COVID-19 PANDEMIC |
There is a wide range of potential outcomes for the company's cash flows from the impact of the Covid-19. The directors have considered the company's current key performance indicators to identify and quantify the potential impact of Covid-19 on the company's cash flows, although the actual impact could be materially different. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
HARLEQUIN NEW HOMES (ASCOT) LIMITED |
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 Harlequin New Homes (Ascot) Limited for the period ended 30 November 2021 which comprise the Profit and Loss account, Balance Sheet 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 Harlequin New Homes (Ascot) Limited, 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 Harlequin New Homes (Ascot) Limited and state those matters that we have agreed to state to the Board of Directors of Harlequin New Homes (Ascot) Limited, 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 Harlequin New Homes (Ascot) Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Harlequin New Homes (Ascot) Limited 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 loss of Harlequin New Homes (Ascot) Limited. You consider that Harlequin New Homes (Ascot) Limited is exempt from the statutory audit requirement for the period. |
We have not been instructed to carry out an audit or a review of the financial statements of Harlequin New Homes (Ascot) Limited. 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. |
Chartered Accountants and Tax Advisors |
26 Main Avenue |
Moor Park |
HA6 2HJ |