Hadley Rowe Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 02221605 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

FOR

HADLEY ROWE LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

H P Hamplett

Mrs P Hamplett

J A Hamplett

S H Hamplett

Mrs S M E Mountford

SECRETARY:

Mrs P Hamplett

REGISTERED OFFICE:

Chapel House Farm

Ranton

Stafford

Staffordshire

ST18 9JU

REGISTERED NUMBER:

02221605 (England and Wales)

ACCOUNTANTS:

Howards Limited

Chartered Certified Accountants

Newport House

Newport Road

Stafford

Staffordshire

ST16 1DA

FIXED ASSETS

Tangible assets

5

749

980

Investment property

6

5,656,272

5,656,272

5,657,021

5,657,252

CURRENT ASSETS

Debtors

7

82,685

66,554

Cash at bank

781,669

705,731

864,354

772,285

CREDITORS

Amounts falling due within one year

8

141,704

189,960

NET CURRENT ASSETS

722,650

582,325

TOTAL ASSETS LESS CURRENT LIABILITIES

6,379,671

6,239,577

CREDITORS

Amounts falling due after more than one year

9

(300,000

)

(300,000

)

PROVISIONS FOR LIABILITIES

(74,060

)

(83,156

)

ACCRUALS AND DEFERRED INCOME

(315,241

)

(279,112

)

NET ASSETS

5,690,370

5,577,309

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Fair value reserve

10

2,044,649

2,053,745

Retained earnings

3,635,721

3,513,564

SHAREHOLDERS' FUNDS

5,690,370

5,577,309

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 2nd August 2017 and were signed on its behalf by:

H P Hamplett - Director

1.	STATUTORY INFORMATION

Hadley Rowe Limited is a private company, limited by shares, registered in England and Wales. The company's

registered number is 02221605 and the registered office is Chapel House Farm, Ranton, Stafford, Staffordshire,

ST18 9JU.

The principal activity of the company is that of industrial and residential property letting.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Functional currency

The financial statements are prepared in sterling. The functional currency of the company is sterling.

Transition to FRS 102

The financial statements for the year ended 31 March 2017 are the first financial statements that comply with

FRS 102 Section 1A "Small Entities". The date of transition is 1 April 2015.

The transition to FRS 102 has resulted in small number of changes in accounting policies to those used

previously.

The nature of these changes and their impact on opening equity and profit for the comparative period are

explained in the reconciliation of profit note.

Significant judgements and estimates

In determining and applying accounting policies, judgement is often required in respect of items where the

choice of specific policy, accounting estimate or assumption to be followed could materially affect the reported

results or net asset position of the company; it may later be determined that a different choice would have been

more appropriate. Management considers that certain accounting estimates and assumptions relating to

revenue, taxation, tangible fixed assets, provisions and contingent liabilities and accruals are its critical

accounting estimates.

Turnover

Turnover represents net invoiced rentals, excluding value added tax, after adjustment for deferred income

represented by rentals invoiced in advance at the year end.

Tangible fixed assets

Land and buildings are carried at their revalued amounts, being fair value at the date of valuation less

impairment losses. Revaluations are performed by professional qualified valuers with sufficient regularity to

ensure that the carrying amounts do not differ materially from those that would be determined using fair values at

the end of each reporting period.

Any revaluation increase in the carrying amount of land and buildings is recognised in other comprehensive

income and included in a revaluation reserve in equity, except to the extent that it reverses a revaluation

decrease of the same asset previously recognised in profit or loss, in which case the increase is credited to profit

and loss to the extent of the decrease previously expended.

Decreases that offset previous increases of the same asset are charged in other comprehensive income and

debited against revaluation reserve in equity; decreases exceeding the balance in revaluation reserve relating to

an asset are recognised in profit or loss.

Plant and machinery and fixtures and fittings are carried at cost less accumulated depreciation and accumulated

impairment losses.

No depreciation is provided in respect of investment properties. These properties are held for investment and the

directors consider that the adoption of this policy is necessary to give a true and fair view. Depreciation on other

assets is calculated so as to write off the cost or valuation of an asset, less its residual value, over their

estimated useful lives as follows:

Fixtures and fittings - 25% reducing balance

Computer equipment - 15% reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is

recognised in profit or loss, and included in other operating income.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Financial instruments

Basic financial instruments are initially measured at transaction price and subsequently at amortised cost using

the effective interest method, where material. Derivative financial instruments are initially recorded at cost and

thereafter at fair value with changes recognised in profit or loss, where material.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the statement of financial position date.

Deferred tax

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

statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st April 2016

and 31st March 2017

26,258

1,397

27,655

DEPRECIATION

At 1st April 2016

25,420

1,255

26,675

Charge for year

210

21

231

At 31st March 2017

25,630

1,276

26,906

NET BOOK VALUE

At 31st March 2017

628

121

749

At 31st March 2016

838

142

980

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2016

and 31st March 2017

5,656,272

NET BOOK VALUE

At 31st March 2017

5,656,272

At 31st March 2016

5,656,272

Included in cost or valuation of investment property is freehold land of £ 562,223 (2016 - £ 562,223 ) which is not

depreciated.

The residential properties are reviewed on an annual basis by the directors and adjusted if required in the fair

value reserve.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

82,685

66,554

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

2,599

5,933

Taxation and social security

74,922

74,995

Other creditors

64,183

109,032

141,704

189,960

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

300,000

300,000

10.

RESERVES

Fair

value

reserve

£

At 1st April 2016

2,053,745

Deferred tax on revaluations

(9,096

)

At 31st March 2017

2,044,649