Hartley Wadsworth Developments Limited Filleted accounts for Companies House (small and micro)

Hartley Wadsworth Developments Limited Filleted accounts for Companies House (small and micro)

HARTLEY WADSWORTH (DEVELOPMENTS) LTD - Company Information

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COMPANY REGISTRATION NUMBER: 06201136
HARTLEY WADSWORTH DEVELOPMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2018
HARTLEY WADSWORTH DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2018
2018
2017
Note
£
£
£
£
FIXED ASSETS
Tangible assets
4
9,502
269,609
CURRENT ASSETS
Debtors
5
115
162
Cash at bank and in hand
2,375
210
-------
----
2,490
372
CREDITORS: amounts falling due within one year
6
183,192
327,909
---------
---------
NET CURRENT LIABILITIES
180,702
327,537
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 171,200)
( 57,928)
---------
--------
NET LIABILITIES
( 171,200)
( 57,928)
---------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 171,300)
( 58,028)
---------
--------
SHAREHOLDERS DEFICIT
( 171,200)
( 57,928)
---------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HARTLEY WADSWORTH DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2018
These financial statements were approved by the board of directors and authorised for issue on 5 November 2018 , and are signed on behalf of the board by:
D.J. Hartley
Director
Company registration number: 06201136
HARTLEY WADSWORTH DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2018
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Saturn House, Ground Floor, 6-7 Mercury Rise, Altham Business Park, Altham, Accrington, BB5 5BY.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Rents receivable shown in the profit and loss account represents amounts invoice during the year.
(c) Taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(d) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
10% per annum reducing balance
Motor Vehicles
-
25% per annum reducing balance
(f) Financial instruments
Basic financial instruments are recognised at amortised cost.
4. TANGIBLE ASSETS
Freehold Property
Fixtures & Fittings
Motor Vehicles
Total
£
£
£
£
Cost
At 1 April 2017
263,962
15,076
–
279,038
Additions
–
–
11,695
11,695
Disposals
( 263,962)
( 15,076)
–
( 279,038)
---------
--------
--------
---------
At 31 March 2018
–
–
11,695
11,695
---------
--------
--------
---------
Depreciation
At 1 April 2017
–
9,429
–
9,429
Charge for the year
–
–
2,193
2,193
Disposals
–
( 9,429)
–
( 9,429)
---------
--------
--------
---------
At 31 March 2018
–
–
2,193
2,193
---------
--------
--------
---------
Carrying amount
At 31 March 2018
–
–
9,502
9,502
---------
--------
--------
---------
At 31 March 2017
263,962
5,647
–
269,609
---------
--------
--------
---------
5. DEBTORS
2018
2017
£
£
Other debtors
115
162
----
----
6. CREDITORS: amounts falling due within one year
2018
2017
£
£
Amounts owed to group undertakings
180,283
224,800
Accruals and deferred income
650
100,850
Director loan accounts
2,259
2,259
---------
---------
183,192
327,909
---------
---------
7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
There are no transactions with directors that require disclosure under FRS 102.
8. RELATED PARTY TRANSACTIONS
The company was under the control of Mr D.J. Hartley throughout the current and previous year. At 31 March 2018 the company owed £180,283 to Hartley Wadsworth & Partners Limited, the ultimate parent company, in respect of advances made during the year. The loan is interest free.
9. CONTROLLING PARTY
The ultimate parent company is Hartley Wadsworth & Partners Limited, a company incorporated in England and Wales.