Hertingfordbury Investments Ltd
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Registered number: 03120675 |
Balance Sheet |
as at 31 March 2019
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|
|
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Notes |
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2019 |
|
|
2018 |
£ |
£ |
Fixed assets |
Investment properties |
3 |
|
|
1,870,000 |
|
|
1,700,000 |
|
Current assets |
Debtors |
4 |
|
525 |
|
|
1,807 |
Cash at bank |
|
|
- |
|
|
6,366 |
|
|
|
525 |
|
|
8,173 |
Creditors: amounts falling due within one year |
5 |
|
(294,982) |
|
|
(290,344) |
|
Net current liabilities |
|
|
|
(294,457) |
|
|
(282,171) |
|
Total assets less current liabilities |
|
|
|
1,575,543 |
|
|
1,417,829 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(1,020,120) |
|
|
(996,939) |
|
Provisions for liabilities |
|
|
|
(69,175) |
|
|
(36,875) |
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Net assets |
|
|
|
486,248 |
|
|
384,015 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Fair value reserve |
8 |
|
|
724,122 |
|
|
586,422 |
Profit and loss account |
|
|
|
(237,974) |
|
|
(202,507) |
|
Shareholders' funds |
|
|
|
486,248 |
|
|
384,015 |
|
|
|
|
|
|
|
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The company has taken the option not to deliver a profit and loss account to the Registrar of Companies.
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|
Malcolm J G King |
Director |
Approved by the board on 4 November 2019
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Hertingfordbury Investments Ltd
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Notes to the Accounts |
for the year ended 31 March 2019
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1 |
Accounting policies |
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Basis of preparation |
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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).
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Turnover |
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Turnover represents rent and other property income receivable.
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Investment properties |
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Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Fair value is ascertained by an open market valuation on freehold basis, conducted by a director who is also a qualified chartered surveyor. |
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Debtors |
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Short term debtors are measured at transaction price less any impairment losses for bad and doubtful debts. Longer term 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.
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Creditors |
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Short term creditors are measured at transaction price. Longer term 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.
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the accounts and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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Impairment |
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Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount, in which case the impairment loss is a revaluation decrease. |
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|
2 |
Employees |
2019 |
|
2018 |
Number |
Number |
|
|
Average number of persons employed including directors |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
3 |
Investment properties |
|
|
|
£ |
|
Fair value |
|
At 1 April 2018 |
1,700,000 |
|
Fair value gain |
170,000 |
|
|
At 31 March 2019 |
1,870,000 |
|
|
4 |
Debtors |
2019 |
|
2018 |
£ |
£ |
|
|
Other debtors |
525 |
|
1,807 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
£ |
£ |
|
|
Bank loans and overdrafts |
264,075 |
|
259,432 |
|
Trade creditors |
2,008 |
|
9,573 |
|
Other creditors |
28,899 |
|
21,339 |
|
|
|
|
|
|
294,982 |
|
290,344 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2019 |
|
2018 |
£ |
£ |
|
|
Other creditors |
1,020,120 |
|
996,939 |
|
|
|
|
|
|
|
|
|
|
7 |
Loans |
2019 |
|
2018 |
£ |
£ |
|
Creditors include: |
|
Secured bank loans and overdrafts |
264,075 |
|
259,432 |
|
|
|
|
|
|
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The bank loans and overdrafts are secured on the company's investment properties.
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|
|
8 |
Fair value reserve |
2019 |
|
2018 |
£ |
£ |
|
|
At 1 April 2018 |
586,422 |
|
597,650 |
|
Transfer from/(to) profit and loss account |
137,700 |
|
(11,228) |
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At 31 March 2019 |
724,122 |
|
586,422 |
|
|
|
|
|
|
|
|
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|
9 |
Other information |
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The company is a private company limited by shares, incorporated in England and registered at: Marquis House, 68 Great North Road, Hatfield, Hertfordshire, AL9 5ER. |