Halliwell Property Investments Limited Company Accounts

HALLIWELL PROPERTY INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09987154

Halliwell Property Investments Limited

Filleted Unaudited Financial Statements

31 March 2017

Halliwell Property Investments Limited

Financial Statements

Period from 4 February 2016 to 31 March 2017

Contents	Page

Statement of financial position	1

Statement of changes in equity	3

Notes to the financial statements	4

Halliwell Property Investments Limited

Statement of Financial Position

31 March 2017

	31 Mar 17
Note	£

Fixed assets

Tangible assets	4	277,000

Current assets

Cash at bank and in hand	13,218

Creditors: amounts falling due within one year	5	146,985
		---------
Net current liabilities		133,767
		---------
Total assets less current liabilities		143,233

Creditors: amounts falling due after more than one year	6	138,500
		---------
Net assets		4,733
		---------

Capital and reserves

Called up share capital	100
Profit and loss account	4,633
	-------
Member funds	4,733
	-------

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 period ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the period 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 .

Halliwell Property Investments Limited

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 31 October 2017 , and are signed on behalf of the board by:

Mr M. Halliwell
Director

Company registration number: 09987154

Halliwell Property Investments Limited

Statement of Changes in Equity

Period from 4 February 2016 to 31 March 2017

	Called up share capital	Profit and loss account	Total
	£	£	£
At 4 February 2016	–	–	–

Profit for the period		4,633	4,633
	----	-------	-------
Total comprehensive income for the period	–	4,633	4,633

Issue of shares	100	–	100
	----	----	----
Total investments by and distributions to owners	100	–	100

	----	-------	-------
At 31 March 2017	100	4,633	4,733
	----	-------	-------

Halliwell Property Investments Limited

Notes to the Financial Statements

Period from 4 February 2016 to 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Springfield Farm, Friezland Lane, Greenfield, Oldham, OL3 7EU.

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 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.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

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

Taxation

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 initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 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 revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Tangible assets

	Land and buildings
	£
Cost
Additions	277,000
	---------
At 31 March 2017	277,000
	---------
Depreciation
At 4 February 2016 and 31 March 2017	–
	---------
Carrying amount
At 31 March 2017	277,000
	---------

The director who is aware of property market values, is of the opinion that there has been no significant variation in the value of the properties since acquisition and hence the above represents a fair value.

5. Creditors: amounts falling due within one year

	31 Mar 17
	£
Corporation tax	1,172
Other creditors	145,813
	---------
	146,985
	---------

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

	31 Mar 17
	£
Bank loan	138,500
	---------

7. Director's advances, credits and guarantees

During the period the director entered into the following advances and credits with the company:

	31 Mar 17
	Balance brought forward	Amounts repaid	Balance outstanding
	£	£	£
Mr M. Halliwell	–	( 144,843)	( 144,843)
	----	---------	---------