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 2016

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 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,873,662

1,534,108

Current assets

Debtors

180

1,079

Cash at bank and in hand

12,793

44,094

12,973

45,173

Creditors: amounts falling due within one year

(217,803)

(228,285)

Net current liabilities

(204,830)

(183,112)

Total assets less current liabilities

1,668,832

1,350,996

Creditors: amounts falling due after more than one year

(929,423)

(887,666)

739,409

463,330

Capital and reserves

Called up share capital

100

Revaluation reserve

299,082

68,782

Profit and loss account

440,227

394,448

Shareholders' funds

739,409

463,330

For the financial year ended 31 August 2016 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 17 May 2017

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 2016

- 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 January 2015).

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 2016

- 3 -

Fixed assets

Tangible assets

Cost or valuation

At 1 September 2015

1,593,688

Additions

112,586

Revaluation

230,300

At 31 August 2016

1,936,574

Depreciation

At 1 September 2015

59,580

Charge for the year

3,332

At 31 August 2016

62,912

Net book value

At 31 August 2016

1,873,662

At 31 August 2015

1,534,108

Creditors: amounts falling due after more than one year

2016

2015

Analysis of loans repayable in more than five years

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

742,424

785,096

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

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100