Hilbre Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03939324 (England and Wales)

Financial Statements for the Year Ended 31 October 2017

for

Hilbre Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S H Roberts

K McKinney

SECRETARY:

S H Roberts

REGISTERED OFFICE:

Unit 1 Suite 4

Carr Lane

Hoylake

Wirral

Merseyside

CH47 4AZ

REGISTERED NUMBER:

03939324 (England and Wales)

ACCOUNTANTS:

Cobham Murphy Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Tangible assets

4

152,796

175,085

Investments

5

3,668,476

873,526

Investment property

6

3,213,122

3,548,461

7,034,394

4,597,072

CURRENT ASSETS

Stocks

-

29,088

Debtors

7

713,619

637,190

Cash at bank and in hand

291,780

356,096

1,005,399

1,022,374

CREDITORS

Amounts falling due within one year

8

1,057,622

1,018,699

NET CURRENT (LIABILITIES)/ASSETS

(52,223

)

3,675

TOTAL ASSETS LESS CURRENT LIABILITIES

6,982,171

4,600,747

CREDITORS

Amounts falling due after more than one year

9

(803,507

)

(1,591,122

)

PROVISIONS FOR LIABILITIES

(799,309

)

(287,350

)

NET ASSETS

5,379,355

2,722,275

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Share premium

11

730,000

730,000

Retained earnings

11

4,646,355

1,989,275

SHAREHOLDERS' FUNDS

5,379,355

2,722,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 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 Board of Directors on 24 July 2018 and were signed on its behalf by:

S H Roberts - Director

1.	STATUTORY INFORMATION

Hilbre Estates 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Despite the companies net current liabilities position the financial statements have been prepared on a going

concern basis.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

Turnover represents net property sales and management fees excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Financial instruments

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit

and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2016

190,991

Reclassification/transfer

(21,795

)

At 31 October 2017

169,196

DEPRECIATION

At 1 November 2016

15,906

Charge for year

494

At 31 October 2017

16,400

NET BOOK VALUE

At 31 October 2017

152,796

At 31 October 2016

175,085

5.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in joint

undertakings

venture

Totals

£

£

£

COST OR VALUATION

At 1 November 2016

767,002

106,524

873,526

Additions

-

201,951

201,951

Revaluations

2,592,999

-

2,592,999

At 31 October 2017

3,360,001

308,475

3,668,476

NET BOOK VALUE

At 31 October 2017

3,360,001

308,475

3,668,476

At 31 October 2016

767,002

106,524

873,526

Cost or valuation at 31 October 2017 is represented by:

Shares in

Interest

group

in joint

undertakings

venture

Totals

£

£

£

Valuation in 2016

767,001

-

767,001

Valuation in 2017

2,592,999

-

2,592,999

Cost

1

308,475

308,476

3,360,001

308,475

3,668,476

Investments were revalued during the year by the directors.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2016

3,548,461

Disposals

(335,339

)

At 31 October 2017

3,213,122

NET BOOK VALUE

At 31 October 2017

3,213,122

At 31 October 2016

3,548,461

Fair value at 31 October 2017 is represented by:

£

Valuation in 2002

249,645

Valuation in 2003

124,979

Valuation in 2005

(82,000

)

Valuation in 2006

247,124

Valuation in 2008

130,000

Cost

2,543,374

3,213,122

Investment properties were valued by the directors.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Other debtors

713,619

637,190

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.17

31.10.16

£

£

Bank loans and overdrafts

77,938

136,532

Taxation and social security

229,457

87,460

Other creditors

750,227

794,707

1,057,622

1,018,699

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.17

31.10.16

£

£

Bank loans

803,507

1,591,122

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

75,713

86,281

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.10.17

31.10.16

£

£

Bank loans

881,445

1,727,654

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 November 2016

1,989,275

730,000

2,719,275

Profit for the year

2,789,080

2,789,080

Dividends

(132,000

)

(132,000

)

At 31 October 2017

4,646,355

730,000

5,376,355

Profit and loss account includes all current and prior period retained profit and losses. £3,247,425 of the profit

and loss account at 31st October 2017 (2016 £1,149,399) is non-distributable. The non-distributable element of

the profit and loss account relates to investment property revaluation gains, net of related deferred taxation.

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £66,000 (2016 - £72,000) were paid to the directors .

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is S H Roberts.