Honeybee Flats Limited Small abridged accounts

HONEYBEE FLATS LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of Honeybee Flats Limited have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 02341825

Honeybee Flats Limited

Unaudited Abridged Financial Statements

31 March 2017

HOWELL & CO (LEICESTER) LTD

Chartered Certified Accountants

1 Bitteswell Road

Lutterworth

Leics

LE17 4EL

Honeybee Flats Limited

Abridged Financial Statements

Year ended 31 March 2017

Contents	Page

Directors' report	1

Statement of income and retained earnings	3

Abridged statement of financial position	4

Notes to the abridged financial statements	5

The following pages do not form part of the abridged financial statements

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements	8

Detailed abridged income statement	9

Notes to the detailed abridged income statement	10

Honeybee Flats Limited

Directors' Report

Year ended 31 March 2017

The directors present their report and the unaudited abridged financial statements of the company for the year ended 31 March 2017 .

Directors

The directors who served the company during the year were as follows:

M.L. Yemm
P.F. Garnell
S.A. Greeves
D. Wright
R.L. Cavinato
D. Hardwick
Mrs J Wells
Mr T Bell

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 23 August 2017 and signed on behalf of the board by:

P.F. Garnell	S.A. Greeves
Director	Director

Registered office:

1 Bitteswell Road

Lutterworth

Leics

LE17 4EL

Honeybee Flats Limited

Statement of Income and Retained Earnings

Year ended 31 March 2017

	2017	2016
Note	£	£
Gross profit	6,450	6,590

Administrative expenses	4,590	5,220
	-------	-------
Operating profit	1,860	1,370

	-------	-------
Profit before taxation	1,860	1,370

Tax on profit	–	–
	-------	-------
Profit for the financial year and total comprehensive income	1,860	1,370
	-------	-------

Retained earnings at the start of the year	1,794	424
	-------	-------
Retained earnings at the end of the year	3,654	1,794
	-------	-------

All the activities of the company are from continuing operations.

Honeybee Flats Limited

Abridged Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Tangible assets	5		1	1

Current assets

Cash at bank and in hand	4,141		2,329

Creditors: amounts falling due within one year	480		528
	-------		-------
Net current assets		3,661	1,801
		-------	-------
Total assets less current liabilities		3,662	1,802
		-------	-------

Capital and reserves

Called up share capital	8	8
Profit and loss account	3,654	1,794
	-------	-------
Members funds	3,662	1,802
	-------	-------

These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 March 2017 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 abridged 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 abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 23 August 2017 , and are signed on behalf of the board by:

P.F. Garnell	S.A. Greeves
Director	Director

Company registration number: 02341825

Honeybee Flats Limited

Notes to the Abridged Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Bitteswell Road, Lutterworth, Leics, LE17 4EL.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no significant judgements that affect these financial statements.

Revenue recognition

Contributions from the head leaseholders represent services and other charges.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Staff costs

The average number of persons employed by the company during the year, including the directors, amounted to 1 (2016: 1).

5. Tangible assets

	£
Cost
At 1 April 2016 and 31 March 2017	1
	----
Carrying amount
At 31 March 2017	1
	----

6. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

7. Transition to FRS 102

These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.

No transitional adjustments were required in equity or profit or loss for the year.

Honeybee Flats Limited

Management Information

Year ended 31 March 2017

The following pages do not form part of the abridged financial statements.

Honeybee Flats Limited

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Honeybee Flats Limited

Year ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Honeybee Flats Limited for the year ended 31 March 2017, which comprise the statement of income and retained earnings, abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the Board of Directors of Honeybee Flats Limited, as a body, in accordance with the terms of our engagement letter dated 29 September 2014. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Honeybee Flats Limited and state those matters that we have agreed to state you, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Honeybee Flats Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Honeybee Flats Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Honeybee Flats Limited. You consider that Honeybee Flats 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 abridged financial statements of Honeybee Flats 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 abridged financial statements.

HOWELL & CO (LEICESTER) LTD Chartered Certified Accountants

1 Bitteswell Road Lutterworth Leics LE17 4EL

23 August 2017

Honeybee Flats Limited

Detailed Abridged Income Statement

Year ended 31 March 2017

	2017	2016
	£	£
Turnover	6,450	6,590

	-------	-------
Gross profit	6,450	6,590

Overheads

Administrative expenses	4,590	5,220

	-------	-------
Operating profit	1,860	1,370

	-------	-------
Profit before taxation	1,860	1,370
	-------	-------

Honeybee Flats Limited

Notes to the Detailed Abridged Income Statement

Year ended 31 March 2017

	2017	2016
	£	£

Administrative expenses

Honorarium	500	–
Light and heat	238	241
Insurance	1,092	1,024
Garden maintenance	193	770
Property maintenance	1,720	2,147
Printing postage and stationery	9	35
Legal and professional fees (allowable)	288	448
Accountancy fees	480	480
Bank charges	70	75
	-------	-------
	4,590	5,220
	-------	-------