Company Registration No. 05210003 (England and Wales)
HAWTIN PARK DEVELOPMENTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
HAWTIN PARK DEVELOPMENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
HAWTIN PARK DEVELOPMENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,540,000
Current assets
Debtors
297,181
Cash at bank and in hand
55
55
297,236
55
Creditors: amounts falling due within one year
(224,158)
(2,524,300)
Net current assets/(liabilities)
73,078
(2,524,245)
Total assets less current liabilities
73,078
2,015,755
Capital and reserves
Called up share capital
3
1
1
Revaluation reserve
1,322,285
Profit and loss account
73,077
693,469
Shareholders' funds
73,078
2,015,755
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 September 2015
R L Hayward
Director
Company Registration No. 05210003
HAWTIN PARK DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going concern
In preparing the financial statements, the directors have considered the current financial position of the company and its likely future cash flows at the date of signing the Directors' report and accounts and have concluded that it is appropriate to prepare the annual report on a going concern basis.
As at the date of issuing the financial statements, the directors have concluded that, based on the forecasts prepared and notwithstanding the uncertainties noted above in relation to the assumptions, the company will have sufficient resources to continue in operational existence for at least 12 months from the date of issuing the financial statements.
Accordingly, these financial statements have been prepared on a going concern basis.
The financial statements do not include any adjustments that would result if the going concern assumption were not applicable.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the director compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
HAWTIN PARK DEVELOPMENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2014
4,540,000
Disposals
(4,540,000)
At 31 December 2014
-
At 31 December 2013
4,540,000
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 Ordinary share of £1 each
1
1
4
Ultimate parent company
From 27 February 2015 the company is under the control of Mr R L Hayward. Prior to this the ultimate parent company was Gracelands Investments Limited - a company registered in Jersey.