Hebden Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07792806 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 MARCH 2021

FOR

HEBDEN PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W Critchley

REGISTERED OFFICE:

20 Bridge Street

Milnrow

Rochdale

OL16 3ND

REGISTERED NUMBER:

07792806 (England and Wales)

ACCOUNTANTS:

Michael Donnan & Co Limited

Oaktree Court Business Centre

Mill Lane

Ness

Cheshire

CH64 8TP

FIXED ASSETS

Investment property

4

370,000

370,000

CURRENT ASSETS

Stocks

5

812,483

686,549

Debtors

6

2,867

6,450

Cash at bank

28,811

8,986

844,161

701,985

CREDITORS

Amounts falling due within one year

7

33,384

14,674

NET CURRENT ASSETS

810,777

687,311

TOTAL ASSETS LESS CURRENT LIABILITIES

1,180,777

1,057,311

CREDITORS

Amounts falling due after more than one year

8

(950,000

)

(835,000

)

PROVISIONS FOR LIABILITIES

(10,074

)

(10,074

)

NET ASSETS

220,703

212,237

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

220,603

212,137

SHAREHOLDERS' FUNDS

220,703

212,237

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29 March 2021 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 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 8 November 2021 and were signed by:

W Critchley - Director

1.	STATUTORY INFORMATION

Hebden Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

Transactions are rounded to the nearest £.

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 as modified by the revaluation of certain assets.

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 fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss.

Stocks

Work in progress is valued at the 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 30 March 2020

and 29 March 2021

370,000

NET BOOK VALUE

At 29 March 2021

370,000

At 29 March 2020

370,000

Fair value at 29 March 2021 is represented by:

£

Valuation in 2020

53,021

Cost

316,979

370,000

If investment properties had not been revalued they would have been included at the following historical cost:

29/3/21

29/3/20

£

£

Cost

316,979

316,979

Investment properties were valued on an open market basis on 3 June 2020 by W Critchley .

5.

STOCKS

29/3/21

29/3/20

£

£

Stocks

812,483

686,549

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29/3/21

29/3/20

£

£

Other debtors

2,867

6,450

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

29/3/21

29/3/20

£

£

Bank loans and overdrafts

25,000

-

Trade creditors

4,294

11,173

Tax

1,147

-

Social security and other taxes

929

1,431

Other creditors

501

632

Accrued expenses

1,513

1,438

33,384

14,674

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

29/3/21

29/3/20

£

£

Other loans - 1-2 years

70,000

60,000

Directors' loan accounts

880,000

775,000

950,000

835,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

29/3/21

29/3/20

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 30 March 2020

212,137

Profit for the year

8,466

At 29 March 2021

220,603