Heywards Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04061322 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Heywards Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D R Bannister

SECRETARY:

Mrs C Bannister

REGISTERED OFFICE:

"Valley Hill"

Widden Hill

Horton

Bristol

S Gloucestershire

BS37 6QT

REGISTERED NUMBER:

04061322 (England and Wales)

ACCOUNTANTS:

Andrew R Cook Chartered Accountants

Kingsley House

Church Lane

Shurdington

Cheltenham

Gloucestershire

GL51 4TQ

FIXED ASSETS

Tangible assets

4

-

340,000

Investment property

5

520,000

-

520,000

340,000

CURRENT ASSETS

Debtors

6

-

33

Cash at bank

618

1,456

618

1,489

CREDITORS

Amounts falling due within one year

7

100,551

96,545

NET CURRENT LIABILITIES

(99,933

)

(95,056

)

TOTAL ASSETS LESS CURRENT LIABILITIES

420,067

244,944

PROVISIONS FOR LIABILITIES

8

70,127

-

NET ASSETS

349,940

244,944

CAPITAL AND RESERVES

Called up share capital

9

5

5

Revaluation reserve

10

-

189,090

Retained earnings

10

349,935

55,849

SHAREHOLDERS' FUNDS

349,940

244,944

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 15 March 2018 and were signed by:

Mr D R Bannister - Director

1.	STATUTORY INFORMATION

Heywards Limited 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.

Tangible fixed assets

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

Long leasehold

-

2% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Long

leasehold

£

COST

At 1 July 2016

340,000

Reclassification/transfer

(340,000

)

At 30 June 2017

-

NET BOOK VALUE

At 30 June 2017

-

At 30 June 2016

340,000

During the year the freehold property was reclassified as an investment property in accordance with

section 1A of Financial Reporting Standard 102.

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Revaluations

180,000

Reclassification/transfer

340,000

At 30 June 2017

520,000

NET BOOK VALUE

At 30 June 2017

520,000

Fair value at 30 June 2017 is represented by:

£

Valuation in 2017

180,000

Valuation in 2009

189,090

Cost

150,910

520,000

If the investment property had not been revalued it would have been included at the following historical

cost:

30.6.17

30.6.16

£

£

Cost

150,910

-

Aggregate depreciation

(6,800

)

-

The investment property was valued on a fair value basis on 7 March 2018 by Kelsoon Ltd t/a Parkers Estate Agents

.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

-

33

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade creditors

-

38

Social security and other taxes

-

39

Other creditors

92,040

91,040

Directors' current accounts

7,491

4,408

Accrued expenses

1,020

1,020

100,551

96,545

8.	PROVISIONS FOR LIABILITIES

30.6.17

30.6.16

£

£

Deferred tax

70,127

-

Deferred

tax

£

Charge to Income Statement during year

70,127

Balance at 30 June 2017

70,127

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.17

30.6.16

value:

£

£

5

Ordinary

£1

5

5

10.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 July 2016

55,849

189,090

244,939

Profit for the year

108,196

108,196

Dividends

(3,200

)

(3,200

)

Reserve transfer

189,090

(189,090

)

-

At 30 June 2017

349,935

-

349,935

Retained earnings includes £298,963 of non-distributable reserves relating to the fair value revaluation

of the investment property, this includes the £189,090 formerly included in the revaluation reserve.

11.	RELATED PARTY DISCLOSURES

During the year the director, Mr D R Bannister, made net deposits to his account of £3,083. The

balance on his account at 30 June 2017 was £7,491 in credit (2016 - £4,408).

Also during the year Mr Bannister received dividends from the company of £1,920 (2016 - £nil).

Mr Bannister is also a director and majority shareholder of The Owl Way Company Limited. During the

year there were net loan transactions between Heywards Limited and that company of £1,000. The

balance at 30 June 2017 was £92,040 in credit (2016 - £91,040) and is shown in other creditors. All

transactions with that company were conducted at arms length.

12.	ULTIMATE CONTROLLING PARTY

Mr D R Bannister is the ultimate controlling party by virtue of his holding the majority of the company's

issued share capital.