Honeypot Development Ltd Company Accounts

HONEYPOT DEVELOPMENT LIMITED - Company Information

false false false false false false false false false true false false false false false false true No description of principal activity 2016-01-01 Sage Accounts Production Advanced 2017 Update 2 - FRS xbrli:pure xbrli:shares iso4217:GBP 09052374 2016-01-01 2016-12-31 09052374 2016-12-31 09052374 2015-01-01 2015-12-31 09052374 2015-12-31 09052374 bus:RegisteredOffice 2016-01-01 2016-12-31 09052374 bus:LeadAgentIfApplicable 2016-01-01 2016-12-31 09052374 bus:Director1 2016-01-01 2016-12-31 09052374 bus:Director2 2016-01-01 2016-12-31 09052374 bus:Director3 2016-01-01 2016-12-31 09052374 bus:Director4 2016-01-01 2016-12-31 09052374 bus:CompanySecretary1 2016-01-01 2016-12-31 09052374 core:WithinOneYear 2016-12-31 09052374 core:WithinOneYear 2015-12-31 09052374 core:AfterOneYear 2015-12-31 09052374 core:ShareCapital 2016-12-31 09052374 core:ShareCapital 2015-12-31 09052374 core:RetainedEarningsAccumulatedLosses 2016-12-31 09052374 core:RetainedEarningsAccumulatedLosses 2015-12-31 09052374 bus:FRS102 2016-01-01 2016-12-31 09052374 bus:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 09052374 bus:FullAccounts 2016-01-01 2016-12-31 09052374 bus:SmallCompaniesRegimeForAccounts 2016-01-01 2016-12-31 09052374 bus:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31

COMPANY REGISTRATION NUMBER: 09052374

Honeypot Development Ltd

Filleted Unaudited Financial Statements

31 December 2016

Honeypot Development Ltd

Financial Statements

Year ended 31 December 2016

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

Honeypot Development Ltd

Officers and Professional Advisers

The board of directors	Mr H Shah
	Mr M Patel
	Mr N Patani
	Mr S Patani

Company secretary	Mr M Patel

Registered office	9A The Broadway
	Stanmore
	Middlesex
	UK
	HA7 4DA

Accountants	Shah Gillani and Company
	Chartered Certified Accountants
	Kimberley House
	31 Burnt Oak Broadway
	Edgware
	Middlesex
	HA8 5LD

Honeypot Development Ltd

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Current assets

Stocks	4	163,603	6,580
Debtors	5	10,530	2,396,351
Cash at bank and in hand		16,241	16,750
		---------	------------
		190,374	2,419,681

Creditors: amounts falling due within one year	6	68,355		1,496,919
		---------		------------
Net current assets			122,019	922,762
			---------	---------
Total assets less current liabilities			122,019	922,762

Creditors: amounts falling due after more than one year	7	–	800,000
		---------	---------
Net assets		122,019	122,762
		---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	122,017	122,760
	---------	---------
Members funds	122,019	122,762
	---------	---------

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 December 2016 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 .

Honeypot Development Ltd

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 15 September 2017 , and are signed on behalf of the board by:

Mr H Shah
Director

Company registration number: 09052374

Honeypot Development Ltd

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9A The Broadway, Stanmore, Middlesex, HA7 4DA, UK.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, '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.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

Revenue recognition

Turnover represents amounts invoiced during the year, exclusive of Value Added Tax. On the sale of properties, turnover is recognised once the contracts have been exchanged. In respect of long term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced and is recognised by reference to the stage of completion.

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. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate.

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. Stocks

	2016	2015
	£	£
Work in progress	163,603	6,580
	---------	-------

5. Debtors

	2016	2015
	£	£
Other debtors	10,530	2,396,351
	--------	------------

6. Creditors: amounts falling due within one year

	2016	2015
	£	£
Bank loans and overdrafts	–	1,231,408
Trade creditors	52,991	4,317
Corporation tax	–	27,826
Other creditors	15,364	233,368
	--------	------------
	68,355	1,496,919
	--------	------------

7. Creditors: amounts falling due after more than one year

	2016	2015
	£	£
Shareholders loan	–	800,000
	----	---------

8. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.

No transitional adjustments were required in equity or profit or loss for the year.