H.S. Walia Limited - Limited company accounts 16.3

REGISTERED NUMBER: 01559369

Report of the Directors and

Financial Statements for the Year Ended 30 April 2017

for

H.S. Walia Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Harbhajan Singh Walia

Sukraj Singh Walia

Sanjeev Singh Walia

REGISTERED OFFICE:

Atlantic House

Imperial Way

Reading

Berkshire

RG2 0TD

BUSINESS ADDRESS:

74 Bath Road

Reading

Berkshire

RG30 2BE

REGISTERED NUMBER:

01559369

ACCOUNTANTS:

Campbell Parker

Atlantic House

Imperial Way

Reading

Berkshire

RG2 0TD

The directors present their report with the financial statements of the company for the year ended 30 April 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of hotel management and the rental

of the company's premises

DIRECTORS

Harbhajan Singh Walia has held office during the whole of the period from 1 May 2016 to the date of this report.

Other changes in directors holding office are as follows:

Sukraj Singh Walia - appointed 11 April 2017

Sanjeev Singh Walia - appointed 11 April 2017

All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

Harbhajan Singh Walia - Director

4 September 2017

TURNOVER

47,865

Cost of sales

298

GROSS PROFIT

47,567

Administrative expenses

2,413

OPERATING PROFIT

45,154

Interest payable and similar expenses

7,616

PROFIT BEFORE TAXATION

37,538

Tax on profit

7,477

PROFIT FOR THE FINANCIAL YEAR

30,061

FIXED ASSETS

Tangible assets

4

2,048,906

CURRENT ASSETS

Debtors

5

821

Cash at bank

15,609

16,430

CREDITORS

Amounts falling due within one year

6

452,022

NET CURRENT LIABILITIES

(435,592

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,613,314

CREDITORS

Amounts falling due after more than one year

7

455,000

NET ASSETS

1,158,314

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

1,158,214

SHAREHOLDERS' FUNDS

1,158,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 September 2017 and were signed on its behalf by:

Harbhajan Singh Walia - Director

1.	STATUTORY INFORMATION

H.S. Walia Limited is a private company, limited by shares , registered in Not specified/Other. The

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

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover represents the full market value of all trading income receivable by the company during the

financial period. All of the company's turnover was achieved within the United Kingdom.

Tangible fixed assets

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

Land and buildings

-

not provided

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 May 2016

and 30 April 2017

2,048,906

NET BOOK VALUE

At 30 April 2017

2,048,906

At 30 April 2016

2,048,906

Included in cost of land and buildings is freehold land of £ 2,048,906 which is not depreciated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

821

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Taxation and social security

7,477

Other creditors

444,545

452,022

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans

455,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

455,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 April 2017:

£

Harbhajan Singh Walia and Sukhjit Kaur Walia

Balance outstanding at start of year

347,096

Amounts advanced

104,051

Amounts repaid

(15,320

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

435,827