Homestead Land Limited - Period Ending 2016-02-29

Registration number: 08088371

Homestead Land Limited

Unaudited Abbreviated Accounts

for the Year Ended 29 February 2016
 

King & Taylor Limited
4th Floor Joynes House
New Road
Gravesend
Kent
DA11 0AT

Homestead Land Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Homestead Land Limited
(Registration number: 08088371)
Abbreviated Balance Sheet at 29 February 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					414,502			387,830
Current assets
Debtors					4,718			244
Cash at bank and in hand					121,536			15,218
					126,254			15,462
Creditors: Amounts falling due within one year					(1,675)			(805)
Net current assets					124,579			14,657
Total assets less current liabilities					539,081			402,487
Creditors: Amounts falling due after more than one year					(622,716)			(450,386)
Net liabilities					(83,635)			(47,899)
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					(83,735)			(47,999)
Shareholders' deficit					(83,635)			(47,899)

For the year ending 29 February 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 1 November 2016

.........................................
Mr D J Rowe
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Homestead Land Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis. The deficit shown on the balance sheet is fully covered by loans due to group companies and there is no intention to recall these loans in the foreseeable future. Consequently the going concern basis has been adopted.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the letting of land to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% Reducing Balance Basis
Freehold land	Nil
Biological assets - cattle	8 years Straight Line
Fixture and Fittings	25% Reducing Balance Basis

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 March 2015		403,965			403,965
Additions		47,199			47,199
Disposals		(15,650)			(15,650)
At 29 February 2016		435,514			435,514
Depreciation
At 1 March 2015		16,135			16,135
Charge for the year		11,724			11,724
Eliminated on disposals		(6,847)			(6,847)
At 29 February 2016		21,012			21,012
Net book value
At 29 February 2016		414,502			414,502
At 28 February 2015		387,830			387,830

Page 2

Homestead Land Limited
Notes to the Abbreviated Accounts for the Year Ended 29 February 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

4

Control

The company is controlled by ForensiT Group Limited. The company is a wholly owned subsidiary of ForensiT Group Limited, a company registered in the UK. The ultimate controlling party is D Rowe, director.

Page 3