Hilldale Housing Association Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 06953867 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

HILLDALE HOUSING ASSOCIATION LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Director:

Mr D Anders

Registered office:

Suite 2B, 2nd Floor Blackburn House

North Quarry Business Park

Skull House Lane, Appley Bridge

Wigan

WN6 9DB

Registered number:

06953867 (England and Wales)

Accountants:

NR Barton

19-21 Bridgeman Terrace

Wigan

Lancashire

WN1 1TD

FIXED ASSETS

Tangible assets

5

1,085,697

820,670

CURRENT ASSETS

Debtors

6

553,750

482,051

Cash at bank

284,522

8,724

838,272

490,775

CREDITORS

Amounts falling due within one year

7

892,605

292,840

NET CURRENT (LIABILITIES)/ASSETS

(54,333

)

197,935

TOTAL ASSETS LESS CURRENT LIABILITIES

1,031,364

1,018,605

CREDITORS

Amounts falling due after more than one year

8

865,683

900,478

NET ASSETS

165,681

118,127

RESERVES

Income and expenditure account

165,681

118,127

165,681

118,127

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

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

The director acknowledges his 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 surplus or deficit 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 director on 17 July 2017 and were signed by:

Mr D Anders - Director

1.	STATUTORY INFORMATION

Hilldale Housing Association Limited is a private company, limited by guarantee , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

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. These financial statements comply with the Statement of Recommended Practice for Accounting by Registered Social Housing Providers (Updated 2014).

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover relates to rental income and is measured at the fair value of amounts received or receivable.

Tangible fixed assets

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

Property

-

Straight line over 50 years

Lease costs

-

Straight line over the life of the lease

Fixtures, fittings and equipment

-

15% on reducing balance

Motor vehicles

-

15% on reducing balance

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised

until there is reasonable assurance that the company will comply with the conditions attaching to them and the

grants will be received.

Government grants are recognised using the accrual model.

The company has received a grant relating to a property asset and this is being recognised in income on a

systematic basis over the expected useful life of the asset, which is estimated to be 50 years.

The grant is included within other creditors and is apportioned between amounts falling due within one year and

after more than one year according to the expected amortisation period.

Impairment

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets

have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any

affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the

carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised

immediately in the income statement.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of

its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss

been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the

income statement.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2015 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Lease

and

Motor

Property

costs

equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2016

545,243

-

273,112

72,990

891,345

Additions

37,793

127,061

155,392

-

320,246

At 31 December 2016

583,036

127,061

428,504

72,990

1,211,591

DEPRECIATION

At 1 January 2016

-

-

59,726

10,949

70,675

Charge for year

11,661

2,244

32,008

9,306

55,219

At 31 December 2016

11,661

2,244

91,734

20,255

125,894

NET BOOK VALUE

At 31 December 2016

571,375

124,817

336,770

52,735

1,085,697

At 31 December 2015

545,243

-

213,386

62,041

820,670

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

323,382

181,112

Other debtors

230,368

300,939

553,750

482,051

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Finance leases

10,413

9,876

Trade creditors

88,921

-

Taxation and social security

50,231

15,839

Other creditors

743,040

267,125

892,605

292,840

Other creditors falling due within one year include the following :

- an amount of £55,488 in respect of loans for which the company has provided security

- an amount of £12,860 in respect of a government grant. Security has been provided in respect of the grant and

there is provision for it to be repaid should any of the conditions of the grant be breached.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Finance leases

35,696

46,646

Other creditors

829,987

853,832

865,683

900,478

Other creditors falling due after more than one year include the following :

- an amount of £212,707 in respect of loans for which the company has provided security

- an amount of £617,280 in respect of a government grant. Security has been provided in respect of the grant and

there is provision for it to be repaid should any of the conditions of the grant be breached

9.	LIMITED BY GUARANTEE

The company is limited by guarantee of members and does not have a share capital. The liability of members is

limited to £1. On winding up of the company, any surplus assets that exist must be transferred to another body or

bodies having objects similar to those of the company.