HERBERT'S_HOUSES_LIMITED - Accounts

HERBERT'S HOUSES LIMITED - Company Information

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Company Registration No. 03857027 (England and Wales)

HERBERT'S HOUSES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2015

HERBERT'S HOUSES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HERBERT'S HOUSES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

1,534,108

1,534,719

Current assets

Debtors

1,079

3,086

Cash at bank and in hand

44,094

48,548

45,173

51,634

Creditors: amounts falling due within one year

(228,285)

(226,548)

Net current liabilities

(183,112)

(174,914)

Total assets less current liabilities

1,350,996

1,359,805

Creditors: amounts falling due after more than one year

(887,666)

(1,075,386)

463,330

284,419

Capital and reserves

Called up share capital

100

Revaluation reserve

68,782

14,684

Profit and loss account

394,448

269,635

Shareholders' funds

463,330

284,419

For the financial year ended 31 August 2015 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 January 2016

M W Adams

M A Loydall

Director

Company Registration No. 03857027

HERBERT'S HOUSES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents rents receivable.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

33.3% per annum straight line

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

1.5

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted. No provision has been made for deferred tax on gains recognised on revaluing investment properties to their market value as the company does not intend to sell the revalued assets in the foreseeable future.

HERBERT'S HOUSES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2015

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 September 2014

1,590,674

Additions

3,232

Revaluation

114,700

Disposals

(114,918)

At 31 August 2015

1,593,688

Depreciation

At 1 September 2014

55,955

On disposals

(3,008)

Charge for the year

6,633

At 31 August 2015

59,580

Net book value

At 31 August 2015

1,534,108

At 31 August 2014

1,534,719

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £65,000).

Creditors: amounts falling due after more than one year

2015

2014

Analysis of loans repayable in more than five years

Total not repayable by instalments and due in more than five years

785,096

947,625

Total amounts repayable by instalments which are due in more than five years

25,261

The aggregate amount of creditors for which security has been given amounted to £0 (2014 - £1,035,386).

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100