HORNSEY ESTATES LIMITED Filleted accounts for Companies House (small and micro)

HORNSEY ESTATES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04680088

HORNSEY ESTATES LIMITED

Filleted Unaudited Financial Statements

31 March 2018

HORNSEY ESTATES LIMITED

Statement of Financial Position

31 March 2018

	2018		2017
Note	£	£	£

Fixed assets

Tangible assets	5		2,219,598	2,219,666

Current assets

Debtors	6	–	22,499
Cash at bank and in hand		148,866	121,150
		---------	---------
		148,866	143,649

Creditors: amounts falling due within one year	7	1,518,451		1,514,015
		------------		------------
Net current liabilities			1,369,585	1,370,366
			------------	------------
Total assets less current liabilities			850,013	849,300
			---------	---------
Net assets			850,013	849,300
			---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	850,011	849,298
	---------	---------
Shareholders funds	850,013	849,300
	---------	---------

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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

HORNSEY ESTATES LIMITED

Statement of Financial Position (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 30 November 2018 , and are signed on behalf of the board by:

D Fluss

Director

Company registration number: 04680088

HORNSEY ESTATES 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 Hallswelle Road, 1 Hallswelle House, London, NW11 0DH.

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

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 .

Tangible assets

Tangible assets are recorded at cost. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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	-	25% reducing balance

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2017: 2 ).

5. Tangible assets

	Freehold property	Long leasehold property	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 April 2017 and 31 March 2018	1,845,051	374,340	4,885	2,224,276
	------------	---------	-------	------------
Depreciation
At 1 April 2017	–	–	4,609	4,609
Charge for the year	–	–	69	69
	------------	---------	-------	------------
At 31 March 2018	–	–	4,678	4,678
	------------	---------	-------	------------
Carrying amount
At 31 March 2018	1,845,051	374,340	207	2,219,598
	------------	---------	-------	------------
At 31 March 2017	1,845,051	374,340	276	2,219,667
	------------	---------	-------	------------

6. Debtors

	2018	2017
	£	£
Other debtors	–	22,499
	----	--------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	858,695	865,248
Corporation tax	5,696	14,912
Social security and other taxes	3,264	–
Unpaid wages	15,999	15,999
Amount due to related undertaking	575,950	570,592
Other creditors	58,847	47,264
	------------	------------
	1,518,451	1,514,015
	------------	------------