Harvest Homes Properties Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 02162040 (England and Wales)

Harvest Homes Properties Limited

Abbreviated Unaudited Accounts

for the Year Ended

31 August 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTORS:

M R Stedman

H Brown

REGISTERED OFFICE:

9 Byford Court

Crockatt Road

Hadleigh

Ipswich

Suffolk

IP7 6RD

REGISTERED NUMBER:

02162040 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

9 Byford Court

Crockatt Road

Hadleigh

Ipswich

Suffolk

IP7 6RD

FIXED ASSETS

Tangible assets

2

2,567

3,205

CURRENT ASSETS

Stocks

632,476

60,500

Debtors

12,169

9,925

Cash at bank

57,712

578,571

702,357

648,996

CREDITORS

Amounts falling due within one year

(391,507

)

(387,580

)

NET CURRENT ASSETS

310,850

261,416

TOTAL ASSETS LESS CURRENT LIABILITIES

313,417

264,621

PROVISIONS FOR LIABILITIES

(513

)

(641

)

NET ASSETS

312,904

263,980

CAPITAL AND RESERVES

Called up share capital

3

2,000

1,000

Profit and loss account

310,904

262,980

SHAREHOLDERS' FUNDS

312,904

263,980

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395
and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 8 June 2017 and were signed on its behalf by:

M R Stedman - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the Financial

Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet

date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of

the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

and 31 August 2016

18,479

DEPRECIATION

At 1 September 2015

15,274

Charge for year

638

At 31 August 2016

15,912

NET BOOK VALUE

At 31 August 2016

2,567

At 31 August 2015

3,205

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2,000

Ordinary

£1

2,000

1,000

1,000 Ordinary shares of £1 were issued during the year for cash of £ 131,990 .

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2016 and 31 August 2015:

2016

2015

£

M R Stedman

Balance outstanding at start of year

(109,974

)

(107,714

)

Amounts advanced

11,259

27,740

Amounts repaid

(120

)

(30,000

)

Balance outstanding at end of year

(98,835

)

(109,974

)

H Brown

Balance outstanding at start of year

-

Amounts advanced

1,000

-

Amounts repaid

(215,650

)

-

Balance outstanding at end of year

(214,650

)

-

The directors credit was unsecured and interest free and has no fixed repayment date.