Abbreviated Company Accounts - HEATHFIELD PROPERTIES LIMITED
Abbreviated Company Accounts - HEATHFIELD PROPERTIES LIMITED
Registered Number 00649744
HEATHFIELD PROPERTIES LIMITED
Abbreviated Accounts
31 March 2014
HEATHFIELD PROPERTIES LIMITED Registered Number 00649744
Abbreviated Balance Sheet as at 31 March 2014
Notes | 2014 | 2013 | |
---|---|---|---|
£ | £ | ||
Fixed assets | |||
Intangible assets |
|
|
|
Tangible assets | 2 |
|
|
|
|||
Current assets | |||
Stocks |
|
|
|
Debtors |
|
|
|
Investments |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: amounts falling due within one year |
( |
( |
|
Net current assets (liabilities) |
|
|
|
Total assets less current liabilities |
|
|
|
Total net assets (liabilities) |
|
|
|
Capital and reserves | |||
Called up share capital | 3 |
|
|
Revaluation reserve |
|
|
|
Profit and loss account |
|
|
|
Shareholders' funds |
|
|
For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the Board on
And signed on their behalf by:
HEATHFIELD PROPERTIES LIMITED Registered Number 00649744
Notes to the Abbreviated Accounts for the period ended 31 March 2014
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Plant and machinery 20% straight line
Other accounting policies
Leasing and hire purchase commitments - Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
Investment properties - Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.
This is in accordance with the FRSSE, which unlike the Companies Act, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company so their current value is of prime importance. This departure from the provisions of the Companies Act is required in order to give a true and fair view.
£ | |
---|---|
Cost | |
At 1 April 2013 |
|
Additions |
|
Disposals |
|
Revaluations |
|
Transfers |
|
At 31 March 2014 |
|
Depreciation | |
At 1 April 2013 |
|
Charge for the year |
|
On disposals |
|
At 31 March 2014 |
|
Net book values | |
At 31 March 2014 | 450,130 |
At 31 March 2013 | 450,173 |
4Transactions with directors
Name of director receiving advance or credit: | ||
---|---|---|
Description of the transaction: | ||
Balance at 1 April 2013: | £ |
|
Advances or credits made: | ||
Advances or credits repaid: | ||
Balance at 31 March 2014: | £ |