Hunter Real Estate Investment Managers L - Accounts to registrar (filleted) - small 18.2
Hunter Real Estate Investment Managers L - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2018 |
for |
Hunter Real Estate Investment Managers |
Limited |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Contents of the Financial Statements |
for the Year Ended 31 December 2018 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Hunter Real Estate Investment Managers |
Limited |
Company Information |
for the Year Ended 31 December 2018 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
6 Logie Mill |
Edinburgh |
Lothian |
EH7 4HG |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Balance Sheet |
31 December 2018 |
31.12.18 | 31.12.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Capital redemption reserve | 9 |
Fair value reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
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. |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Balance Sheet - continued |
31 December 2018 |
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 |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Notes to the Financial Statements |
for the Year Ended 31 December 2018 |
1. | STATUTORY INFORMATION |
Hunter Real Estate Investment Managers Limited is a |
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 |
Preparation of consolidated financial statements |
The financial statements contain information about Hunter Real Estate Investment Managers Limited as an |
individual company and do not contain consolidated financial information as the parent of a group. The company |
is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated |
financial statements. |
Turnover |
Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are |
considered to have been transferred to the buyer. Turnover from the supply of services represents the value of |
services provided under contracts to the extent that there is a right to consideration and is recorded at the fair |
value of the consideration received or receivable. Where a contract has only been partially completed at the |
balance sheet date turnover represents the fair value of the service provided to date based on the stage of |
completion of the contract activity at the balance sheet date. Where payments are received from customers in |
advance of services provided, the amounts are recorded as deferred income and included as part of creditors due |
within one year. |
Tangible fixed assets |
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is |
provided on all tangible fixed assets, other than on pictures which are appreciating assets, at rates calculated to |
write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life, |
as follows: |
Fixtures and fittings - 20% per annum |
Residual value represents the estimated amount which would currently be obtained from disposal of an asset, |
after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at |
the end of its useful life. |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance |
sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is |
estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an |
impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the |
impairment loss is a revaluation decrease. |
Investments in subsidiaries |
Investments in subsidiary undertakings are measured at fair value through profit or loss. Where fair value cannot |
be measured reliably, investments are measured at cost less impairment. |
All other fixed asset investments are also measured at fair value through profit or loss. |
Basic 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. |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
2. | ACCOUNTING POLICIES - continued |
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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
Provisions |
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past |
event, it is probable that the company will be required to settle that obligation and a reliable estimate can be |
made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present |
obligation at the balance sheet date, taking into account the risks and uncertainties surrounding the obligation. |
Exemption from preparing a cash flow statement |
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a |
small company. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
NET BOOK VALUE |
At 31 December 2018 |
At 31 December 2017 |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 January 2018 | 236,222 |
Disposals | ( |
) | (12,060 | ) |
Revaluations | ( |
) | (68,004 | ) |
At 31 December 2018 | 156,158 |
NET BOOK VALUE |
At 31 December 2018 | 156,158 |
At 31 December 2017 | 236,222 |
Cost or valuation at 31 December 2018 is represented by: |
Shares in |
group | Other |
undertakings | investments | Totals |
£ | £ | £ |
Valuation in 2017 | 35,542 | (115,922 | ) | (80,380 | ) |
Valuation in 2018 | (9,799 | ) | (70,261 | ) | (80,060 | ) |
Cost | 66,598 | 250,000 | 316,598 |
92,341 | 63,817 | 156,158 |
If investments had not been revalued they would have been included at the following historical cost: |
31.12.18 | 31.12.17 |
£ | £ |
Cost | 316,598 | 316,602 |
Investments were valued on an open market basis on 31 December 2018 by M S Hunter . |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 107 George Street, Edinburgh, EH2 3ES |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
The company was dissolved on 27.11.18. |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
5. | FIXED ASSET INVESTMENTS - continued |
Registered office: 107 George Street, Edinburgh, EH2 3ES |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
Registered office: 107 George Street, Edinburgh, EH2 3ES |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
The company was dissolved on 27.11.18. |
Registered office: 107 George Street, Edinburgh, EH2 3ES |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
The company was dissolved on 27.11.18. |
Registered office: Cannon Place, 78 Cannon Street, London, England, EC4N 6AF |
Nature of business: |
% |
Class of shares: | holding |
£ | £ |
Aggregate capital and reserves |
The company was dissolved on 27.11.18. |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.18 | 31.12.17 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.18 | 31.12.17 |
value: | £ | £ |
Ordinary | £1 | 650 | 650 |
9. | RESERVES |
Capital | Fair |
Retained | redemption | value |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 January 2018 | 1,523,240 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Transfer | 9,798 | - | (9,798 | ) | - |
At 31 December 2018 | 1,525,911 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 31 December 2018 and the |
period ended 31 December 2017: |
31.12.18 | 31.12.17 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Hunter Real Estate Investment Managers |
Limited (Registered number: SC199327) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2018 |
11. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £95,000 were paid to the director . |
The company received income from shares in group companies of £34,622 (2017: £157,657). |
Related party |
Transactions in 31.12.18 |
Transactions in 31.12.17 |
Balance receivable/ (payable at 31.12.18 |
) |
Balance receivable/ (payable at 31.12.17 |
) |
£ | £ | £ | £ |
Hunter REIM Limited | Purchases | (59,434 | - | (59,434 | ) | - |
Loan | 218,488 | 81,512 | 300,000 | 81,512 |
Interest | 3,750 | - | 3,750 | - |
A director of Hunter REIM Limited is a director of Hunter Real Estate Investment Managers Limited. |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |