Hawkstead Limited - Period Ending 2016-05-31

Registration number: 08068441

Hawkstead Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

Condy Mathias
Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Hawkstead Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hawkstead Limited
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hawkstead Limited for the year ended 31 May 2016 set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Hawkstead Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hawkstead Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hawkstead Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hawkstead Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Hawkstead Limited. You consider that Hawkstead Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hawkstead Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Condy Mathias
Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

17 November 2016

Page 1

Hawkstead Limited
(Registration number: 08068441)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets		2			290,857			290,541
Current assets
Debtors					1,771			2,054
Cash at bank and in hand					2,718			2,840
					4,489			4,894
Creditors: Amounts falling due within one year					(33,047)			(10,460)
Net current liabilities					(28,558)			(5,566)
Total assets less current liabilities					262,299			284,975
Creditors: Amounts falling due after more than one year					(258,145)			(280,629)
Net assets					4,154			4,346
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					4,054			4,246
Shareholders' funds					4,154			4,346

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

Hawkstead Limited
(Registration number: 08068441)
Abbreviated Balance Sheet at 31 May 2016
......... continued

For the year ending 31 May 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 directors acknowledge their 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 Board on 14 November 2016 and signed on its behalf by:

.........................................
Mr M J Warren
Director

.........................................
Mrs R J Warren
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

Hawkstead Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 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 are prepared under the going concern concept as the company is expected to obtain sufficient funds for the day to day running of the business from the shareholders.
The financial statements do not reflect any adjustments which would have to be made should the company fail to secure sufficient funds to meet its day to day working capital requirements.

Turnover

Turnover represents amounts receivable in respect of property rentals.

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 life as follows:

Asset class	Depreciation method and rate
Freehold investment property (see below)	No depreciation
Office equipment	33% straight line

Investment properties

Company's property is held for long-term investment. Investment property is accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of the investment property and this is revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment property may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, this property is not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore 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 which might otherwise have been shown cannot be separately identified or quantified.

Page 4

Hawkstead Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 June 2015		290,541			290,541
Additions		471			471
At 31 May 2016		291,012			291,012
Depreciation
Charge for the year		155			155
At 31 May 2016		155			155
Net book value
At 31 May 2016		290,857			290,857
At 31 May 2015		290,541			290,541

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		3,883			3,883
Amounts falling due after more than one year		163,145			185,629
Total secured creditors		167,028			189,512

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		251,350			280,629

Page 5

Hawkstead Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary A Class of £1 each		50			50			50			50
Ordinary B Class of £1 each		50			50			50			50
		100			100			100			100

Page 6