Hillvale Homes (Polegate) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09729805 (England and Wales)

Unaudited Financial Statements

For The Period 1 September 2017 to 31 October 2018

for

Hillvale Homes (Polegate) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J E Smither

S J Griston

R Cross

R S Lister

REGISTERED OFFICE:

Mill House

58 Guildford Street

Chertsey

Surrey

KT16 9BE

REGISTERED NUMBER:

09729805 (England and Wales)

ACCOUNTANTS:

Fuller Spurling

Mill House

58 Guildford Street

Chertsey

Surrey

KT16 9BE

CURRENT ASSETS

Stocks

1,251,415

4,303,781

Debtors

3

862,768

6,695

Cash at bank

1,008,059

129,875

3,122,242

4,440,351

CREDITORS

Amounts falling due within one year

4

2,304,534

4,450,027

NET CURRENT ASSETS/(LIABILITIES)

817,708

(9,676

)

TOTAL ASSETS LESS CURRENT LIABILITIES

817,708

(9,676

)

CAPITAL AND RESERVES

Called up share capital

5

3,000

1,000

Retained earnings

6

814,708

(10,676

)

SHAREHOLDERS' FUNDS

817,708

(9,676

)

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2018 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 20 December 2018 and were signed on its behalf by:

S J Griston - Director

1.	STATUTORY INFORMATION

Hillvale Homes (Polegate) 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.

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.

Turnover

Turnover represents the sale of properties. Turnover is recognised on the date of exchange of contracts of sale.

Stocks

Stock consists of property and land purchase and development costs incurred to date, and is valued at the lower

of cost and net realisable value.

Financial instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic

financial instruments are initially recognised at transaction value and subsequently measured at their settlement

value.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less

from the date of acquisition or opening of the deposit or similar account.

Creditors

Creditors, provisions and accrued costs are recognised where the company has a present obligation resulting

from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the

obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their

settlement amount after allowing for any trade discounts due.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.8.17

£

£

Trade debtors

607,314

-

Other debtors

255,454

800

VAT

-

5,895

862,768

6,695

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

31.8.17

£

£

Bank loans and overdrafts

-

914,147

Trade creditors

4,740

7,296

Corporation tax

213,127

-

VAT

58,502

-

Other creditors

1,938,155

3,527,084

Accrued expenses

90,010

1,500

2,304,534

4,450,027

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal

value: £

180,000 Ordinary A £0.01 1,800

120,000 Ordinary B £0.01 1,200

During the year Share classes Ordinary A, B, C and D were reclassified and redesignated between Ordinary A

and B class shares. Following a further subdivision of shares from £1.00 to £0.01 per share, 120,000 were

redesignated as Ordinary A class shares. A further 60,000 Ordinary A class and 120,000 Ordinary B class shares

were issued on 3rd October 2017. They rank pari-passu with the shares already issued.

6.

RESERVES

Retained

earnings

£

At 1 September 2017

(10,676

)

Profit for the period

825,384

At 31 October 2018

814,708