Company Registration No. 08065894 (England and Wales)
HOLLY HOUSE PROPERTIES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
HOLLY HOUSE PROPERTIES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
HOLLY HOUSE PROPERTIES LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
619,417
630,608
Current assets
Debtors
100
100
Cash at bank and in hand
21,363
33,809
21,463
33,909
Creditors: amounts falling due within one year
(84,553)
(94,378)
Net current liabilities
(63,090)
(60,469)
Total assets less current liabilities
556,327
570,139
Creditors: amounts falling due after more than one year
3
(512,453)
(533,273)
43,874
36,866
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
43,774
36,766
Shareholders' funds
43,874
36,866
For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have 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 16 December 2016
Mr C M Joyce
Director
Company Registration No. 08065894
HOLLY HOUSE PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
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 January 2015).
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 rental amounts receivable net of VAT.
rental
amounts receivable net of VAT.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land 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:
Freehold land and buildings
Buildings - 2% straight line
Freehold land is not depreciated.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
659,588
Depreciation
At 1 June 2015
28,980
Charge for the year
11,191
At 31 May 2016
40,171
Net book value
At 31 May 2016
619,417
At 31 May 2015
630,608
HOLLY HOUSE PROPERTIES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
3
Creditors: amounts falling due after more than one year
2016
2015
£
£
Analysis of loans repayable in more than five years
Total not repayable by instalments and due in more than five years
282,500
282,500
Total amounts repayable by instalments which are due in more than five years
51,836
78,463
The aggregate amount of creditors for which security has been given amounted to £270,913 (2015 - £310,533).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100