Hapex_Developments_Limite - Accounts

HAPEX DEVELOPMENTS LTD - Company Information

Print Friendly Version

Company Registration No. 05909815 (England and Wales)

Hapex Developments Limited

Unaudited abbreviated financial statements

For the year ended 31 August 2016

HAPEX DEVELOPMENTS LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

HAPEX DEVELOPMENTS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

3,940,000

Current assets

Debtors

12,567

Cash at bank and in hand

12,676

53,934

12,678

66,501

Creditors: amounts falling due within one year

(1,512,360)

(5,563,975)

Net current liabilities

(1,499,682)

(5,497,474)

Total assets less current liabilities

(1,499,682)

(1,557,474)

Capital and reserves

Called up share capital

Revaluation reserve

(1,000,314)

Profit and loss account

(1,499,684)

(557,162)

Shareholders' funds

(1,499,682)

(1,557,474)

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 and the Financial Reporting Standard for Smaller Entities (effective January 2015).

Approved by the Board for issue on 17 May 2017

M M S McPhail

Director

Company Registration No. 05909815

HAPEX DEVELOPMENTS 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).

Going Concern

The financial statements have been prepared on the going concern basis, as funds will continue to be made available from related undertakings to enable it to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that might result from the withdrawal of this support and the directors are of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.

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 amounts receivable for rent.

1.4

Tangible fixed assets and depreciation

Investment properties are valued annually and aggregate surplus or deficit is transferred to reserves. No depreciation is provided in respect of investment properties; this constitutes a departure from the statutory rules requiring fixed assets to be depreciated over the economical useful lives and is necessary to enable the financial statements to give a true and fair view. Depreciation 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.

Fixed assets

Tangible assets

Cost

At 1 September 2015

3,940,000

Disposals

(3,940,000)

At 31 August 2016

At 31 August 2015

3,940,000

HAPEX DEVELOPMENTS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Ultimate parent company

The company is controlled by N O McPhail by virtue of owning 100% of the issued share capital of the company.