Townhead Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10075500 (England and Wales)

TOWNHEAD INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2018

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

R Staples

SECRETARY:

J A Dent

REGISTERED OFFICE:

Hurlingham Business Park

Fulbeck Heath

Grantham

Lincolnshire

NG32 3HL

REGISTERED NUMBER:

10075500 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Investment property

4

770,000

754,296

CURRENT ASSETS

Debtors

5

2,697

-

Cash at bank and in hand

45,913

87,622

48,610

87,622

CREDITORS

Amounts falling due within one year

6

750,882

817,658

NET CURRENT LIABILITIES

(702,272

)

(730,036

)

TOTAL ASSETS LESS CURRENT LIABILITIES

67,728

24,260

PROVISIONS FOR LIABILITIES

2,670

-

NET ASSETS

65,058

24,260

CAPITAL AND RESERVES

Called up share capital

7

1

1

Fair value reserve

8

13,034

-

Retained earnings

52,023

24,259

SHAREHOLDERS' FUNDS

65,058

24,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 17 September 2018 and were signed by:

R Staples - Director

1.	STATUTORY INFORMATION

Townhead Investments 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.

Turnover

Turnover comprises of rent, lease premiums, amounts recharged to tenants and the sale proceeds of trading

properties arising in the United Kingdom, excluding value added tax.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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 NIL (2017 - 1 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2017

754,296

Revaluations

15,704

At 31 May 2018

770,000

NET BOOK VALUE

At 31 May 2018

770,000

At 31 May 2017

754,296

Fair value at 31 May 2018 is represented by:

£

Valuation in 2018

15,704

Cost

754,296

770,000

The investment property was valued on an open market basis on 31 May 2018 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

2,697

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

6,512

8,828

Other creditors

744,370

808,830

750,882

817,658

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£0.01

1

1

8.

RESERVES

Fair

value

reserve

£

Investment property revalued

13,034

At 31 May 2018

13,034