Company Registration No. 02363282 (England and Wales)
HARLEQUIN HOUSE TEDDINGTON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
PAGES FOR FILING WITH REGISTRAR
HARLEQUIN HOUSE TEDDINGTON LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
HARLEQUIN HOUSE TEDDINGTON LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Investments
4
1,852,002
1,852,002
Current assets
Debtors
6
546,730
442,524
Cash at bank and in hand
8,384
8,417
555,114
450,941
Creditors: amounts falling due within one year
7
(3,852,995)
(3,841,024)
Net current liabilities
(3,297,881)
(3,390,083)
Total assets less current liabilities
(1,445,879)
(1,538,081)
Capital and reserves
Called up share capital
8
10,000
10,000
Profit and loss reserves
(1,455,879)
(1,548,081)
Total equity
(1,445,879)
(1,538,081)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 25 September 2019
Mr S A Lewis
Director
Company Registration No. 02363282
HARLEQUIN HOUSE TEDDINGTON LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 January 2017
10,000
(1,607,882)
(1,597,882)
Year ended 31 December 2017:
Profit and total comprehensive income for the year
-
59,801
59,801
Balance at 31 December 2017
10,000
(1,548,081)
(1,538,081)
Year ended 31 December 2018:
Profit and total comprehensive income for the year
-
92,202
92,202
Balance at 31 December 2018
10,000
(1,455,879)
(1,445,879)
HARLEQUIN HOUSE TEDDINGTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 3 -
1
Accounting policies
Company information
Harlequin House Teddington Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
8 Weymouth Mews, London, W1G 7EA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
The
financial statements have been prepared on a going concern basis as the company has received an assurance of financial support from it's ultimate parent company, Langland Estates Limited.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
HARLEQUIN HOUSE TEDDINGTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2017 - 1).
HARLEQUIN HOUSE TEDDINGTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 5 -
3
Taxation
2018
2017
£
£
Current tax
UK corporation tax on profits for the current period
11,971
12,163
Adjustments in respect of prior periods
291
(143)
Total current tax
12,262
12,020
4
Fixed asset investments
2018
2017
£
£
Investments
1,852,002
1,852,002
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2018 & 31 December 2018
1,852,002
Carrying amount
At 31 December 2018
1,852,002
At 31 December 2017
1,852,002
5
Significant undertakings
At the year end the company had a significant beneficial holding in SP Acquis LLP, a company incorporated in England. The proportion of voting rights held was 50%.
HARLEQUIN HOUSE TEDDINGTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 6 -
6
Debtors
2018
2017
Amounts falling due within one year:
£
£
Corporation tax recoverable
-
291
Amounts owed by group undertakings and undertakings in which the company has a participating interest
207,762
103,266
Other debtors
338,968
338,967
546,730
442,524
7
Creditors: amounts falling due within one year
2018
2017
£
£
Amounts owed to group undertakings
3,837,274
3,825,111
Corporation tax
11,971
12,163
Other creditors
3,750
3,750
3,852,995
3,841,024
8
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary of £1 each
10,000
10,000
9
Related party transactions
The following amounts were outstanding at the reporting end date:
2018
2017
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
3,837,274
3,825,111
10
Controlling party
The parent company is Langland Estates Limited, a company incorporated in England and it's registered office address is 8 Weymouth Mews, London, W1G 7EA.
Mr S Lewis, the director of this company, is the ultimate controlling party by virtue of his shareholding in the parent company.