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HAWKSVALLEY PROPERTIES LIMITED
REGISTERED NUMBER: 03871319
ABBREVIATED BALANCE SHEET
AS AT 30 APRIL 2014
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 April 2014 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf on 18 December 2014.
The notes on pages 2 to 3 form part of these abbreviated accounts.
- 1 -
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HAWKSVALLEY PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2014
1.Accounting Policies
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the company in respect of rent and service charges receivable during the year, exclusive of Value Added Tax.
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In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) freehold investment properties are included in the financial statements at their open market value and are not depreciated. This is a departure from the Companies Act 2006 which requires all fixed assets, except land, to be depreciated. The surplus or deficit on the annual revaluation is transferred to a revaluation reserve, except where the deficit reduces the property below its historical cost, in which case it is taken to the profit and loss account
Short term leasehold investment properties are amortised over the remaining term of their lease.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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Deferred tax is provided on revalued property only where a binding agreement to sell the property existed at the balance sheet date.
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2.Investment properties
 
- 2 -
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HAWKSVALLEY PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2014
3.Creditors:
Amounts falling due within one year
Creditors due within one year include bank borrowings of £81,777 (2013: £69,959) which are secured by the company.
4.Creditors:
Amounts falling due after more than one year
Creditors due after more than one year include bank loans of £236,608 (2013: £26,979) which are secured by the company.
5.Share capital
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Allotted, called up and fully paid
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3 Ordinary shares of £1 each
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- 3 -
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