| Heskfield Properties Limited |
| Registered number: |
03873058 |
| Statement of Financial Position |
| as at 31 March 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
800,000 |
|
|
800,000 |
|
| Current assets |
| Debtors |
3 |
|
308,577 |
|
|
304,839 |
| Cash at bank and in hand |
|
|
37,481 |
|
|
41,444 |
|
|
|
346,058 |
|
|
346,283 |
|
| Creditors: amounts falling due within one year |
4 |
|
(51,102) |
|
|
(59,197) |
|
| Net current assets |
|
|
|
294,956 |
|
|
287,086 |
|
| Total assets less current liabilities |
|
|
|
1,094,956 |
|
|
1,087,086 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(97,022) |
|
|
(125,486) |
|
|
|
| Net assets |
|
|
|
997,934 |
|
|
961,600 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
2 |
|
|
2 |
| Revaluation reserve |
6 |
|
|
485,888 |
|
|
485,888 |
| Profit and loss account |
|
|
|
512,044 |
|
|
475,710 |
|
| Shareholders' funds |
|
|
|
997,934 |
|
|
961,600 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| P Austin |
| Director |
| Approved by the board on 27 October 2017 |
|
| Heskfield Properties Limited |
| Notes to the Accounts |
| for the year ended 31 March 2017 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
|
|
|
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 the notes below. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents rent receiveable on property letting. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
No depreciation charged |
|
|
Debtors |
|
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
|
| 2 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 April 2016 |
800,000 |
|
At 31 March 2017 |
800,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2017 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2017 |
800,000 |
|
At 31 March 2016 |
800,000 |
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Trade debtors |
12,417 |
|
8,679 |
|
Other debtors |
296,160 |
|
296,160 |
|
|
|
|
|
|
308,577 |
|
304,839 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans and overdrafts |
27,994 |
|
27,524 |
|
Accruals |
3,554 |
|
3,482 |
|
Corporation tax |
9,084 |
|
16,337 |
|
Other taxes and social security costs |
3,762 |
|
5,146 |
|
Other creditors |
6,708 |
|
6,708 |
|
|
|
|
|
|
51,102 |
|
59,197 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Bank loans |
97,022 |
|
125,486 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Revaluation reserve |
2017 |
|
2016 |
| £ |
£ |
|
|
At 1 April 2016 |
485,888 |
|
310,888 |
|
Gain on revaluation of land and buildings |
- |
|
175,000 |
|
|
At 31 March 2017 |
485,888 |
|
485,888 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans to directors |
| B/fwd |
Paid |
Repaid |
C/fwd |
| £ |
£ |
£ |
£ |
|
P Austin |
|
Repayable on demand |
4,969 |
|
- |
|
- |
|
4,969 |
|
|
|
4,969 |
|
- |
|
- |
|
4,969 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Other information |
|
|
Heskfield Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
269 Farnborough Road |
|
Farnborough |
|
Hampshire |
|
GU14 7LY |
|
| 9 |
Transition to FRS 102 |
|
|
These are the first 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. |
