Haven Landscapes Limited - Filleted accounts

Haven Landscapes Limited - Filleted accounts

HAVEN LANDSCAPES LIMITED - Company Information

Print Friendly Version

Registered number
05001963
Haven Landscapes Limited
Filleted Accounts
31 December 2017
Haven Landscapes Limited
Registered number: 05001963
Balance Sheet
as at 31 December 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 148,868 147,721
Current assets
Debtors 4 773,844 548,598
Cash at bank and in hand 807,990 690,640
1,581,834 1,239,238
Creditors: amounts falling due within one year 5 (334,306) (255,250)
Net current assets 1,247,528 983,988
Net assets 1,396,396 1,131,709
Capital and reserves
Called up share capital 10 10
Profit and loss account 1,396,386 1,131,699
Shareholders' funds 1,396,396 1,131,709
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Michael Field
Director
Approved by the board on 28 September 2018
Haven Landscapes Limited
Notes to the Accounts
for the year ended 31 December 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on a reducing balance basis
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2017 28,702 129,576 149,075 307,353
Additions - 8,418 45,990 54,408
Disposals - - (16,957) (16,957)
At 31 December 2017 28,702 137,994 178,108 344,804
Depreciation
At 1 January 2017 7,965 79,612 72,055 159,632
Charge for the year 3,111 14,596 28,400 46,107
On disposals - - (9,803) (9,803)
At 31 December 2017 11,076 94,208 90,652 195,936
Net book value
At 31 December 2017 17,626 43,786 87,456 148,868
At 31 December 2016 20,737 49,964 77,020 147,721
4 Debtors 2017 2016
£ £
Trade debtors 299,132 362,317
Other debtors 474,712 186,281
773,844 548,598
5 Creditors: amounts falling due within one year 2017 2016
£ £
Obligations under finance lease and hire purchase contracts - 4,537
Trade creditors 59,453 68,324
Corporation tax 123,540 41,953
Other taxes and social security costs 135,056 114,993
Other creditors 16,257 25,443
334,306 255,250
6 Other financial commitments 2017 2016
£ £
Total future minimum payments under non-cancellable operating leases 50,507 56,497
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Michael Field
Directors loan account 177,764 274,358 (250,000) 202,122
177,764 274,358 (250,000) 202,122
8 Related party transactions
Michael Field has purchased services and materials from the company to the value of £84,142 during the year.
9 Controlling party
Michael Field owns 90% of the share capital and thereby controls the company.
10 Other information
Haven Landscapes Limited is a private company limited by shares and incorporated in England. Its registered office is:
Stratton
Highways Road
Compton
Hampshire
SO22 4DF
Haven Landscapes Limited 05001963 false 2017-01-01 2017-12-31 2017-12-31 VT Final Accounts July 2018 Michael Field No description of principal activity 05001963 2016-01-01 2016-12-31 05001963 core:WithinOneYear 2016-12-31 05001963 core:ShareCapital 2016-12-31 05001963 core:RetainedEarningsAccumulatedLosses 2016-12-31 05001963 core:AllPeriods 2016-12-31 05001963 2017-01-01 2017-12-31 05001963 bus:PrivateLimitedCompanyLtd 2017-01-01 2017-12-31 05001963 bus:AuditExemptWithAccountantsReport 2017-01-01 2017-12-31 05001963 bus:Director40 2017-01-01 2017-12-31 05001963 1 2017-01-01 2017-12-31 05001963 2 2017-01-01 2017-12-31 05001963 core:LandBuildings 2017-01-01 2017-12-31 05001963 core:PlantMachinery 2017-01-01 2017-12-31 05001963 core:Vehicles 2017-01-01 2017-12-31 05001963 bus:Director1 2017-01-01 2017-12-31 05001963 bus:Director1 1 2017-01-01 2017-12-31 05001963 countries:England 2017-01-01 2017-12-31 05001963 bus:FRS102 2017-01-01 2017-12-31 05001963 bus:FullAccounts 2017-01-01 2017-12-31 05001963 2017-12-31 05001963 core:WithinOneYear 2017-12-31 05001963 core:ShareCapital 2017-12-31 05001963 core:RetainedEarningsAccumulatedLosses 2017-12-31 05001963 core:LandBuildings 2017-12-31 05001963 core:PlantMachinery 2017-12-31 05001963 core:Vehicles 2017-12-31 05001963 core:AllPeriods 2017-12-31 05001963 bus:Director1 1 2017-12-31 05001963 2016-12-31 05001963 core:LandBuildings 2016-12-31 05001963 core:PlantMachinery 2016-12-31 05001963 core:Vehicles 2016-12-31 05001963 bus:Director1 1 2016-12-31 iso4217:GBP xbrli:pure