Highstead Development Limited - Accounts to registrar (filleted) - small 18.2
Highstead Development Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2017 |
FOR |
HIGHSTEAD DEVELOPMENT LIMITED |
HIGHSTEAD DEVELOPMENT LIMITED (REGISTERED NUMBER: 09857586) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HIGHSTEAD DEVELOPMENT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
4 Mount Ephraim Road |
Tunbridge Wells |
Kent |
TN1 1EE |
HIGHSTEAD DEVELOPMENT LIMITED (REGISTERED NUMBER: 09857586) |
BALANCE SHEET |
30 NOVEMBER 2017 |
2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks | 3 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 4 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings | 6 | ( |
) | ( |
) |
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 |
HIGHSTEAD DEVELOPMENT LIMITED (REGISTERED NUMBER: 09857586) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
1. | STATUTORY INFORMATION |
Highstead Development Limited is a |
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 |
This is the first year which the financial statements have been prepared under FRS 102. Refer to notes for an |
explanation of the transition. |
Going concern |
Accounting standards require the director to consider the appropriateness of the going concern basis when |
preparing the financial statements. The director confirms that he considers that the going concern basis remains |
appropriate. The director believes that the company has sufficient resources to continue in operational existence |
for the foreseeable future. The director believes this to be the case as the company has the support of its |
director who will not demand repayment of the loan owing to him at the detriment of the company's ability to |
continue. Thus he continues to adopt the going concern basis of accounting in preparing the annual financial |
statements. |
Stocks |
Stock represents development land and associated costs. These are held at the lower of cost and net realisable |
value. |
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 |
Short term debtors are measured at transaction price, less any impairment. |
HIGHSTEAD DEVELOPMENT LIMITED (REGISTERED NUMBER: 09857586) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice |
of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three |
months from the date of acquisition and that are readily convertible to known amounts of cash with no significant |
risk of change in value. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third |
parties, loans to related parties and investments in non-puttable ordinary shares. |
Creditors |
Short term creditors are measured at the transaction price. |
Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemptions in preparing these financial |
statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic |
of Ireland": |
- the requirements of Section 7 Statement of Cash Flows; |
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d); |
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A; |
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29; |
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23; |
- the requirements of Section 33 Related Party Disclosures paragraph 33.7. |
3. | STOCKS |
2017 | 2016 |
£ | £ |
Stocks |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Other loans |
Trade creditors |
Other creditors |
Directors' loan accounts | 115,000 | 115,000 |
Accruals and deferred income |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
6. | RESERVES |
Retained |
earnings |
£ |
At 1 December 2016 | ( |
) |
Deficit for the year | ( |
) |
At 30 November 2017 | ( |
) |
HIGHSTEAD DEVELOPMENT LIMITED (REGISTERED NUMBER: 09857586) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 NOVEMBER 2017 |
7. | RELATED PARTY DISCLOSURES |
All About Care Limited |
A company under common control |
During the year, All About Care Limited incurred costs and liabilities on behalf of the company of £58,735 (2016: |
£nil). At the balance sheet date Highstead Development Limited owed All About Care Limited £58,735 (2016: |
£nil). |
8. | FIRST YEAR ADOPTION |
The policies applied under the entity's previous accounting framework are not materially different to FRS 102 |
and have not impacted on equity or profit or loss. |