Hillcrest House (Langland) Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 02770008 (England and Wales)

HILLCREST HOUSE (LANGLAND) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

D I H Abbay Bowen

REGISTERED OFFICE:

C/O Bevan & Buckland

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

REGISTERED NUMBER:

02770008 (England and Wales)

ACCOUNTANTS:

Bevan & Buckland

Chartered Accountants

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Investment property

3

242,500

242,500

CURRENT ASSETS

Debtors

4

330,884

330,472

Cash at bank

3,172

3,463

334,056

333,935

CREDITORS

Amounts falling due within one year

5

26,242

17,880

NET CURRENT ASSETS

307,814

316,055

TOTAL ASSETS LESS CURRENT LIABILITIES

550,314

558,555

CREDITORS

Amounts falling due after more than one year

6

144,053

145,470

NET ASSETS

406,261

413,085

CAPITAL AND RESERVES

Called up share capital

80,490

80,490

Fair value reserve

8

56,398

56,398

Retained earnings

269,373

276,197

SHAREHOLDERS' FUNDS

406,261

413,085

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 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.

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 28 February 2018 and were signed by:

D I H Abbay Bowen - Director

1.	STATUTORY INFORMATION

Hillcrest House (Langland) Ltd is a private company, limited by shares , registered in England and

Wales. 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income on investment properties.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

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.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short

maturity of three months or less from the date of acquisition or opening of the deposit or similar

account.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation (legal and

constructive) resulting from a past event that will probably result in the transfer of funds to a third party

and the amount due to settle the obligation can be measured or estimated reliably. Creditors and

provisions are normally recognised at their settlement amount after allowing for any trade discounts

due.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently

measured at their settlement value.

Transition for FRS 102

These financial statements for the year ended 31 April 2017 are the first financial statements that

comply with FRS 102 Section 1A small entities. The date of transition is 1 May 2015. The transition to

FRS 102 Section 1A small entities has not resulted in any changes to accounting policies to those

previously used.

Presentational and functional currency

The presentational and functional currency is £ sterling.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2016

and 30 April 2017

242,500

NET BOOK VALUE

At 30 April 2017

242,500

At 30 April 2016

242,500

The investment properties were revalued in 2014. In the opinion of the directors this valuation is still a

true valuation of the properties.

Fair value at 30 April 2017 is represented by:

£

Valuation in 2014

56,398

Cost

186,102

242,500

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

330,884

330,472

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

1,429

1,429

Other creditors

24,813

16,451

26,242

17,880

Included within other creditors are amounts owed to Mr D I H Abbay Bowen (Director) of £20,676

(2016: £12,695). These amounts are interest free and repayable on demand.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

144,053

145,470

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

by instalments

138,337

139,754

138,337

139,754

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

145,482

146,899

The bank loans are secured with fixed and floating charges over all present and future assets of the

company.

8.

RESERVES

Fair

value

reserve

£

At 1 May 2016

and 30 April 2017

56,398

9.	RELATED PARTY DISCLOSURES

Included in other debtors are amounts due by the group companies Positive Health Systems Limited

and Hillcrest House Holdings Limited, £287,280 (2016 : £287,115) and £43,406 (2016: £43,159)

respectively.

The following reproduces the text of the report prepared for the director in respect of the company's

annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain

other primary statements and the Report of the Director are not required to be filed with the Registrar

of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Hillcrest House (Langland) Ltd for the year ended 30 April 2017 which comprise

the Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Hillcrest House (Langland) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hillcrest House (Langland) Ltd and state those matters that we have agreed to state to the director of Hillcrest House (Langland) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hillcrest House (Langland) Ltd and its director for our work or for this report.

It is your duty to ensure that Hillcrest House (Langland) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hillcrest House (Langland) Ltd. You consider that Hillcrest House (Langland) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hillcrest House (Langland) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan & Buckland

Chartered Accountants

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

28 February 2018