Company registration number:
00817283
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UNAUDITED
FINANCIAL STATEMENTS
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FOR THE YEAR ENDED
30 APRIL 2022
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HURST PARK AUTOMOBILES (WR) LIMITED
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HURST PARK AUTOMOBILES (WR) LIMITED
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COMPANY INFORMATION
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HURST PARK AUTOMOBILES (WR) LIMITED
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CONTENTS
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Statement of Financial Position
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Notes to the Financial Statements
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HURST PARK AUTOMOBILES (WR) LIMITED
REGISTERED NUMBER:
00817283
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STATEMENT OF FINANCIAL POSITION
AS AT
30 APRIL 2022
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Debtors: amounts falling due within one year
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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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Allotted, called up and fully paid share capital
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The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 2 to 4 form part of these financial statements.
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HURST PARK AUTOMOBILES (WR) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
Hurst Park Automobiles (WR) Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements. The trading address is Hurst House, 157-169 Walton Road, East Molesey. Surrey. KT8 0DX.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
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The following principal accounting policies have been applied:
The company ceased trading on 31 January 2022 and going forward will prepare dormant accounts until trade resumes.
Revenue consists of rental income and is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
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Operating leases: the Company as lessor
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Rental income from operating leases is credited to profit or loss on a straight line basis over the lease term.
Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.
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HURST PARK AUTOMOBILES (WR) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
2.
Accounting policies (continued)
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was
4
(2021 -
4
)
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to related parties
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Other taxation and social security
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Accruals and deferred income
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HURST PARK AUTOMOBILES (WR) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
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Creditors: Amounts falling due after more than one year
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Related Parties and transactions with directors
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Included within note 4 are amounts owed by the parent undertaking, Kinsheron Developments Limited. The balance owed to Kinsheron at the year end was £508,820 (2021 - £3,004,320 owed from Kinsheron) no interest was charged on the loan during the year.
During the year there were transactions on directors current accounts as follows:
Advances made to B. M. Wooding of £Nil, there were credits of £13,441 and a closing balance on his directors current account of £64,461 shown in other creditors above (2021: £51,020).
Advances made to D. M. Wooding of £Nil, there were credits of £4,280 and a closing balance on her directors current account of £57,785 shown in other creditors above (2021: £53,505).
Advances made to T. J. Wooding of £5,000 there were credits of £6,225 and a closing balance on his directors current account of £42,535 shown in other debtors above (2021: £41,310 was owed by the company).
Interest is charged on credit balances.
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