Hart Street Properties Limited - Accounts to registrar (filleted) - small 17.3
Hart Street Properties Limited - Accounts to registrar (filleted) - small 17.3
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 March 2017 |
| for |
| Hart Street Properties Limited |
| Hart Street Properties Limited (Registered number: 04186085) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Hart Street Properties Limited |
| Company Information |
| for the Year Ended 31 March 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| Hart Street Properties Limited (Registered number: 04186085) |
| Balance Sheet |
| 31 March 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 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. |
| 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 |
| Hart Street Properties Limited (Registered number: 04186085) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2017 |
| 1. | STATUTORY INFORMATION |
| Hart Street Properties Limited is a |
| registered number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of consideration received or receivable and represents the amount of rent due, |
| property expenses re-imbursed and dilapdations, excluding value added tax, which is derived from commercial properties |
| situated in the United Kingdom. |
| The Company recognises revenue when the following conditions are satisfied: |
| i. the amount of revenue can be measured reliably; |
| ii. it is probable that the economic benefits associated with the transaction can be measured reliably. |
| Where payments are received from tenants in advance of services provided the amounts are recorded as deferred income |
| and included as part of creditors due within one year. |
| Tangible fixed assets |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the |
| original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use. |
| The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. |
| Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the |
| difference between the net disposal proceeds and the carrying amount is recognised in profit or loss. |
| Investment property |
| Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are |
| measured at fair value annually with an change recognised in the profit and loss account. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
| 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. |
| Hart Street Properties Limited (Registered number: 04186085) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| At inception the company assesses agreements that transfer the right to use assets. The assessment considers whether |
| the arrangement is, or contains, a lease based on the substances of the arrangement. |
| Finance leased assets |
| Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance |
| leases. |
| Finance leases are capitalised at commencement of the lease as assets at their value of the lease asset or, if lower, the |
| present value of the minimum lease payments calculated using the interest rate implicit in the lease. Where the implicit rate |
| cannot be determined the company's incremental borrowing rate is used. Incremental direct costs, incurred in negotiating |
| and arranging the lease, are included in the cost of the asset. |
| Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed |
| for impairment at each reporting date. |
| The capital element of lease obligations is recorded as a liability on inception of the arrangement. Lease payments are |
| apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant |
| rate of charge on the balance of the capital repayments outstanding. |
| Operating leased assets |
| Leases that do no transfer all the risks and rewards of ownership are classified as operating leases. Payments under |
| operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease. |
| Financial instruments |
| The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| Basic financial assets, including trade and other receivables, cash and bank balances, are recognised at transaction price. |
| Basic financial liabilities, including trade and other payables, bank loans and overdrafts and loans are initially recognised at |
| transaction price. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, |
| cancelled or expires. |
| Cash and cash equivalent |
| Cash and cash equivalents includes cash in hand, deposits held at call with banks and other short-term highly liquid |
| investments with original maturities of three months or less. |
| Distributions to equity holders |
| Dividends and other distributions to company's shareholders are recognised as a liability in the financial statements in the |
| period in which the dividends and other distributions are approved by the company's shareholders. These amounts are |
| recognised in the statement of changes in equity. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Hart Street Properties Limited (Registered number: 04186085) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 4. | TANGIBLE FIXED ASSETS |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| Charge for year |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 April 2016 |
| and 31 March 2017 |
| DEPRECIATION |
| At 1 April 2016 |
| and 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2016 |
| Additions |
| Revaluations | 176,096 |
| At 31 March 2017 |
| NET BOOK VALUE |
| At 31 March 2017 |
| At 31 March 2016 |
| Hart Street Properties Limited (Registered number: 04186085) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 31 March 2017 is represented by: |
| £ |
| Valuation in 2011 | 85,906 |
| Valuation in 2012 | (26,585 | ) |
| Valuation in 2013 | (43,145 | ) |
| Valuation in 2014 | 150,000 |
| Valuation in 2017 | 176,096 |
| Cost | 1,777,728 |
| 2,120,000 |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 2017 | 2016 |
| £ | £ |
| Cost | 1,777,728 | 1,689,054 |
| The investment properties were valued on an open market basis on 31 March 2017 by the director of the company . |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Other loans |
| Hire purchase contracts |
| Taxation |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans - 2-5 years |
| Hire purchase contracts |
| Hart Street Properties Limited (Registered number: 04186085) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2017 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2017 | 2016 |
| £ | £ |
| Bank loans |
| Other loans |
| Hire purchase contracts |
| The loans are secured with a fixed charge over specific, named investment property. |
| The hire purchase liability is secured over the specific assets to which it relates. |