Heathfield Industrial Building Limited - Period Ending 2018-03-31
Heathfield Industrial Building Limited - Period Ending 2018-03-31
Company registration number:
for the Year Ended
Heathfield Industrial Building Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Heathfield Industrial Building Limited
(Registration number: 00759931)
Balance Sheet as at 31 March 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Deferred tax liabilities |
(23,273) |
(24,152) |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Fair value reserve |
231,688 |
230,809 |
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Profit and loss reserve |
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Total equity |
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Page 1
Heathfield Industrial Building Limited
(Registration number: 00759931)
Balance Sheet as at 31 March 2018
For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Heathfield Industrial Building Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
General information |
The company is a private company limited by share capital, incorporated in the United Kingdom.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A – ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling (£).
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable as rental income in the ordinary course of the company's activities.
The company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation of tangible assets
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Page 3
Heathfield Industrial Building Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Asset class |
Depreciation method and rate |
Fixtures & fittings |
20% reducing balance |
Investment property
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for rent in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Page 4
Heathfield Industrial Building Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Tangible assets |
Fixtures & fittings |
Total |
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Cost or valuation |
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At 1 April 2017 |
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At 31 March 2018 |
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Depreciation |
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At 1 April 2017 |
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Charge for the year |
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At 31 March 2018 |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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Investment properties |
2018 |
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At 1 April 2017 |
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At 31 March 2018 |
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The value of investment property is derived from observable current market prices for comparable real estate determined by the directors. The assets have a current value of £300,000 (2017 - £300,000) and a historic cost of £45,039 (2017 - £45,039).
Debtors |
2018 |
2017 |
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Trade debtors |
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Other debtors |
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Total current trade and other debtors |
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Page 5
Heathfield Industrial Building Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Creditors |
Creditors: amounts falling due within one year
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Corporation tax |
6,564 |
6,141 |
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Other creditors |
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Reserves reconciliation |
Fair value reserve |
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At 1 April 2017 |
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Movement in year : |
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Transfer of fair value adjustment |
879 |
At 31 March 2018 |
231,688 |
Fair value reserve |
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At 1 April 2016 |
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Movement in year : |
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Transfer of fair value adjustment |
5,222 |
At 31 March 2017 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Page 6
Heathfield Industrial Building Limited
Notes to the Financial Statements
for the Year Ended 31 March 2018
Related party transactions |
Summary of transactions with parent
Page 7