Helenslea Development Limited - Accounts to registrar (filleted) - small 18.2

Helenslea Development Limited - Accounts to registrar (filleted) - small 18.2

HELENSLEA DEVELOPMENT LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v21.1.6.35 08386135 director 1.1.20 31.12.20 31.12.20 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure083861352019-12-31083861352020-12-31083861352020-01-012020-12-31083861352018-12-31083861352019-01-012019-12-31083861352019-12-3108386135ns16:EnglandWales2020-01-012020-12-3108386135ns15:PoundSterling2020-01-012020-12-3108386135ns11:Director12020-01-012020-12-3108386135ns11:PrivateLimitedCompanyLtd2020-01-012020-12-3108386135ns11:SmallEntities2020-01-012020-12-3108386135ns11:AuditExempt-NoAccountantsReport2020-01-012020-12-3108386135ns11:SmallCompaniesRegimeForDirectorsReport2020-01-012020-12-3108386135ns11:SmallCompaniesRegimeForAccounts2020-01-012020-12-3108386135ns11:FullAccounts2020-01-012020-12-3108386135ns11:RegisteredOffice2020-01-012020-12-3108386135ns6:CurrentFinancialInstruments2020-12-3108386135ns6:CurrentFinancialInstruments2019-12-3108386135ns6:ShareCapital2020-12-3108386135ns6:ShareCapital2019-12-3108386135ns6:RetainedEarningsAccumulatedLosses2020-12-3108386135ns6:RetainedEarningsAccumulatedLosses2019-12-3108386135ns6:FurnitureFittings2020-01-012020-12-3108386135ns6:FurnitureFittings2019-12-3108386135ns6:FurnitureFittings2020-12-3108386135ns6:FurnitureFittings2019-12-3108386135ns6:CostValuation2019-12-3108386135ns6:CurrentFinancialInstrumentsns6:WithinOneYear2020-12-3108386135ns6:CurrentFinancialInstrumentsns6:WithinOneYear2019-12-3108386135ns6:CurrentFinancialInstruments2020-01-012020-12-31
REGISTERED NUMBER: 08386135 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

HELENSLEA DEVELOPMENT LIMITED
HELENSLEA DEVELOPMENT LIMITED (REGISTERED NUMBER: 08386135)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HELENSLEA DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2020







DIRECTOR: R R Shah MSc FRICS





REGISTERED OFFICE: 55a Welbeck Street
London
W1G 9XQ





REGISTERED NUMBER: 08386135 (England and Wales)





ACCOUNTANTS: Arithma LLP
Chartered Certified Accountants
9 Mansfield Street
London
W1G 9NY
Page 1
HELENSLEA DEVELOPMENT LIMITED (REGISTERED NUMBER: 08386135)

BALANCE SHEET
31 DECEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,218 9,133
Investments 5 2 2
6,220 9,135

CURRENT ASSETS
Stocks 21,102,847 21,102,847
Debtors 6 1,056,257 156,880
Cash at bank 178,207 300,127
22,337,311 21,559,854
CREDITORS
Amounts falling due within one year 7 21,608,958 21,220,770
NET CURRENT ASSETS 728,353 339,084
TOTAL ASSETS LESS CURRENT
LIABILITIES
734,573
348,219

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 734,572 348,218
734,573 348,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
HELENSLEA DEVELOPMENT LIMITED (REGISTERED NUMBER: 08386135)

BALANCE SHEET - continued
31 DECEMBER 2020


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 director and authorised for issue on 20 September 2021 and were signed by:





R R Shah MSc FRICS - Director


The notes form part of these financial statements

Page 3
HELENSLEA DEVELOPMENT LIMITED (REGISTERED NUMBER: 08386135)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020


1. STATUTORY INFORMATION

Helenslea Development 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.

TURNOVER
Turnover includes revenue from the sale of flats which recognised when the ownership has transferred to the buyer (usually on sale completion); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 4 years

STOCKS
Stock comprises of residential development properties. The cost of these properties includes the acquisition cost of freehold land and buildings, development expenditure incurred thereon, and finance costs incurred until the development was completed.

Stock is stated at lower of cost and net realisable value.

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 NIL (2019 - NIL).

Page 4 continued...
HELENSLEA DEVELOPMENT LIMITED (REGISTERED NUMBER: 08386135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2020 21,484
Additions 3,274
At 31 December 2020 24,758
DEPRECIATION
At 1 January 2020 12,351
Charge for year 6,189
At 31 December 2020 18,540
NET BOOK VALUE
At 31 December 2020 6,218
At 31 December 2019 9,133

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2020
and 31 December 2020 2
NET BOOK VALUE
At 31 December 2020 2
At 31 December 2019 2

The company owns 100% of the issued share capital of Beaumont Management Company Limited, a company incorporated in England and Wales.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 993,233 39,768
Amounts owed by group undertakings - 34,886
Other debtors 63,024 82,226
1,056,257 156,880

Page 5 continued...
HELENSLEA DEVELOPMENT LIMITED (REGISTERED NUMBER: 08386135)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2020


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 16,250,000 -
Amounts owed to group undertakings 4,871,664 20,902,567
Taxation and social security 268,792 39,347
Other creditors 218,502 278,856
21,608,958 21,220,770

The bank loan is secured over the company’s completed units at The Beaumont, Helenslea Avenue, Golders Green, London NW11 which are held as trading stock of the company

8. CONTROLLING PARTY

The company is controlled by Helenslea Holdings Limited, registered in England & Wales as the parent company.

Page 6