Hightown Properties Limited Filleted accounts for Companies House (small and micro)

HIGHTOWN PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04306415

HIGHTOWN PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 October 2018

HIGHTOWN PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 October 2018

	2018		2017
Note	£	£	£

CURRENT ASSETS

Stocks		20,520	20,520
Debtors	5	980	12,530
Cash at bank and in hand		2,284	466
		---------	---------
		23,784	33,516

CREDITORS: amounts falling due within one year	6	5,251		754
		---------		---------
NET CURRENT ASSETS			18,533	32,762
			---------	---------
TOTAL ASSETS LESS CURRENT LIABILITIES			18,533	32,762
			---------	---------
NET ASSETS			18,533	32,762
			---------	---------

CAPITAL AND RESERVES

Called up share capital	1	1
Profit and loss account	18,532	32,761
	---------	---------
SHAREHOLDERS FUNDS	18,533	32,762
	---------	---------

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 income and retained earnings has not been delivered.

For the year ending 31 October 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 .

HIGHTOWN PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 October 2018

These financial statements were approved by the board of directors and authorised for issue on 23 July 2019 , and are signed on behalf of the board by:

Mr T J Ingram
Director

Company registration number: 04306415

HIGHTOWN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 OCTOBER 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 20 Mannin Way, Lancaster Business Park, Caton Road, Lancaster, LA1 3SW.

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.

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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

STOCKS

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to Nil (2017: 1 ).

5. DEBTORS

	2018	2017
	£	£

Corporation tax repayable	–	1,861
Director's loan account	–	9,689
Other debtors	980	980
	-----	---------
	980	12,530
	-----	---------

6. CREDITORS: amounts falling due within one year

	2018	2017
	£	£

Accruals and deferred income	592	754
Director loan accounts	4,659	–
	--------	-----
	5,251	754
	--------	-----

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the start of the year the director's loan account was overdrawn by £9,689. During the year the account was brought back into credit and at the year end the amount in credit was £4,659, which is included in creditors.

8. RELATED PARTY TRANSACTIONS

The company was under the control of Mr T J Ingram throughout the current year. Mr Ingram is the managing director and majority shareholder.