Humberside PS Limited Filleted accounts for Companies House (small and micro)

HUMBERSIDE PS LIMITED - Company Information

3 false false false false false false false false false true false false false false false false No description of principal activity 2020-04-01 Sage Accounts Production Advanced 2020 - FRS102_2019 8,949 2,746 2,238 4,984 3,965 6,203 xbrli:pure xbrli:shares iso4217:GBP 07055947 2020-04-01 2021-03-31 07055947 2021-03-31 07055947 2020-03-31 07055947 2019-04-01 2020-03-31 07055947 2020-03-31 07055947 2019-03-31 07055947 core:FurnitureFittings 2020-04-01 2021-03-31 07055947 bus:Director1 2020-04-01 2021-03-31 07055947 bus:Director2 2020-04-01 2021-03-31 07055947 core:FurnitureFittings 2020-03-31 07055947 core:FurnitureFittings 2021-03-31 07055947 core:WithinOneYear 2021-03-31 07055947 core:WithinOneYear 2020-03-31 07055947 core:ShareCapital 2021-03-31 07055947 core:ShareCapital 2020-03-31 07055947 core:RetainedEarningsAccumulatedLosses 2021-03-31 07055947 core:RetainedEarningsAccumulatedLosses 2020-03-31 07055947 core:FurnitureFittings 2020-03-31 07055947 bus:Director1 2020-03-31 07055947 bus:Director1 2021-03-31 07055947 bus:Director2 2020-03-31 07055947 bus:Director2 2021-03-31 07055947 bus:Director1 2019-03-31 07055947 bus:Director1 2020-03-31 07055947 bus:Director2 2019-03-31 07055947 bus:Director2 2020-03-31 07055947 bus:Director1 2019-04-01 2020-03-31 07055947 bus:Director2 2019-04-01 2020-03-31 07055947 bus:SmallEntities 2020-04-01 2021-03-31 07055947 bus:AuditExemptWithAccountantsReport 2020-04-01 2021-03-31 07055947 bus:FullAccounts 2020-04-01 2021-03-31 07055947 bus:SmallCompaniesRegimeForAccounts 2020-04-01 2021-03-31 07055947 bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31

COMPANY REGISTRATION NUMBER: 07055947

HUMBERSIDE PS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2021

HUMBERSIDE PS LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2021

	2021		2020
Note	£	£	£	£

Fixed Assets

Tangible assets	5		3,965		6,203

Current Assets

Debtors	6	272,984	104,310
Investments	7	700,770	332,245
Cash at bank and in hand		1,112,714	1,705,316
		--------------	--------------
		2,086,468	2,141,871

Creditors: amounts falling due within one year	8	53,779		97,639
		--------------		--------------
Net Current Assets			2,032,689		2,044,232
			--------------		--------------
Total Assets Less Current Liabilities			2,036,654		2,050,435
			--------------		--------------
Net Assets			2,036,654		2,050,435
			--------------		--------------

HUMBERSIDE PS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2021

	2021		2020
Note	£	£	£	£

Capital and Reserves

Called up share capital	1,000	1,000
Profit and loss account	2,035,654	2,049,435
	--------------	--------------
Shareholders Funds	2,036,654	2,050,435
	--------------	--------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 10 November 2021 , and are signed on behalf of the board by:

M Riaz

Director

Company registration number: 07055947

HUMBERSIDE PS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2021

1. General Information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Halifax House, 30-34 George Street, Hull, HU1 3AJ, East Yorkshire.

2. Statement of Compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible Assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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:

	Fixtures and equipment	-	25% straight line

Impairment of Fixed Assets

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. For the purposes of impairment testing, 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.

Government Grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial Instruments

A financial asset or a financial liability is recognised only when the entity 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. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy).

4. Employee Numbers

The average number of persons employed by the company during the year amounted to 3 (2020: 4 ).

5. Tangible Assets

	Fixtures and equipment	Total
	£	£
Cost
At 1 April 2020 and 31 March 2021	8,949	8,949
	--------	--------
Depreciation
At 1 April 2020	2,746	2,746
Charge for the year	2,238	2,238
	--------	--------
At 31 March 2021	4,984	4,984
	--------	--------
Carrying amount
At 31 March 2021	3,965	3,965
	--------	--------
At 31 March 2020	6,203	6,203
	--------	--------

6. Debtors

	2021	2020
	£	£
Trade debtors	74,438	22,283
Other debtors	198,546	82,027
	-----------	-----------
	272,984	104,310
	-----------	-----------

7. Investments

	2021	2020
	£	£
Other investments	700,770	332,245
	-----------	-----------

8. Creditors: amounts falling due within one year

	2021	2020
	£	£
Social security and other taxes	50,368	91,650
Other creditors	3,411	5,989
	---------	---------
	53,779	97,639
	---------	---------

9. Financial Instruments

The carrying amount for each category of financial instrument is as follows:

	2021	2020
	£	£

Financial assets measured at fair value through profit or loss

Financial assets measured at fair value through profit or loss	700,770	332,245
	-----------	-----------

Financial instruments measured at fair value through profit and loss are listed investments valued at open market value.

10. Directors' Advances, Credits and Guarantees

During the year the directors entered into the following advances and credits with the company:

	2021
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
M Riaz	30,846	8,259	–	39,105
A Sheikh	30,847	8,260	–	39,107
	---------	---------	-----	---------
	61,693	16,519	–	78,212
	---------	---------	-----	---------

	2020
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
M Riaz	31,282	30,846	( 31,282)	30,846
A Sheikh	31,283	30,847	( 31,283)	30,847
	---------	---------	---------	---------
	62,565	61,693	( 62,565)	61,693
	---------	---------	---------	---------

Balances are interest free and repayable on demand.