The Housing Enterprise Fund Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05363029 (England and Wales)

The Housing Enterprise Fund Limited

Financial Statements

for the Year Ended 31 December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R S Drummond-Hay

Mr R M Gamble

Mr D A Young BSC HONS AMICE

REGISTERED OFFICE:

Sandal Business Centre

Asdale Road

Wakefield

West Yorkshire

WF2 7JE

REGISTERED NUMBER:

05363029 (England and Wales)

ACCOUNTANTS:

Jolliffe Cork LLP

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Investment property

3

180,000

395,000

CURRENT ASSETS

Debtors

4

3,698

2,144

Cash at bank and in hand

12,444

18,547

16,142

20,691

CREDITORS

Amounts falling due within one year

5

62,315

16,339

NET CURRENT (LIABILITIES)/ASSETS

(46,173

)

4,352

TOTAL ASSETS LESS CURRENT LIABILITIES

133,827

399,352

CREDITORS

Amounts falling due after more than one year

6

-

326,633

NET ASSETS

133,827

72,719

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

133,727

72,619

SHAREHOLDERS' FUNDS

133,827

72,719

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 25 September 2018 and were signed on its behalf by:

Mr D A Young BSC HONS AMICE - Director

1.	STATUTORY INFORMATION

The Housing Enterprise Fund 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 functional and presentation currency for the company is the pound sterling (£). All financial information presented has

been rounded to the nearest (£), unless otherwise stated.

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.

Going concern

The directors are of the opinion that the company continues to be a going concern and have therefore adopted that basis in

the preparation of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

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.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

395,000

Disposals

(215,000

)

At 31 December 2017

180,000

NET BOOK VALUE

At 31 December 2017

180,000

At 31 December 2016

395,000

The investment properties have been valued by the directors at their open market fair value as at the balance sheet date.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

3,698

2,144

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Corporation tax

1,450

469

Directors' current accounts

59,600

9,600

Accruals and deferred income

1,265

6,270

62,315

16,339

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

-

326,633

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

-

326,633

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

9.	RELATED PARTY DISCLOSURES