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HURFORD SALVI CARR MANAGEMENT LIMITED |
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Financial Statements |
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for the Year Ended 31 July 2021 |
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HURFORD SALVI CARR MANAGEMENT LIMITED |
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Financial Statements |
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for the Year Ended 31 July 2021 |
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HURFORD SALVI CARR MANAGEMENT LIMITED (REGISTERED NUMBER: 08254642) |
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Contents of the Financial Statements |
for the year ended 31 July 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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HURFORD SALVI CARR MANAGEMENT LIMITED |
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Company Information |
for the year ended 31 July 2021 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
HURFORD SALVI CARR MANAGEMENT LIMITED (REGISTERED NUMBER: 08254642) |
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Balance Sheet |
31 July 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
Fixed assets |
Investments | 4 |
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Current assets |
Debtors | 5 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 6 |
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Net current (liabilities)/assets | ( |
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Total assets less current liabilities |
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Creditors |
Amounts falling due after more than one
year |
7 |
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Net liabilities | ( |
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Capital and reserves |
Called up share capital | 8 |
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Share premium |
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Retained earnings | ( |
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Shareholders' funds | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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HURFORD SALVI CARR MANAGEMENT LIMITED (REGISTERED NUMBER: 08254642) |
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Notes to the Financial Statements |
for the year ended 31 July 2021 |
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1. | Statutory information |
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Hurford Salvi Carr Management Limited is a
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Financial instruments |
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. |
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Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of |
impairment at the balance sheet date. |
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Financial assets are impaired where there is objective evidence that, as a result of one or more events that |
occurred after the initial recognition of the financial asset, the estimated future cash flows have been |
affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the |
present value of the estimated cash flows discounted at the asset’s original effective interest rate. The |
impairment loss is recognised in profit or loss |
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If there is a decrease in the impairment loss arising from an event occurring after the impairment was |
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not |
exceed what the carrying amount would have been, had the impairment not previously been recognised. |
The impairment reversal is recognised in profit or loss. |
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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 group after deducting all of its liabilities. |
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Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group |
companies 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 receipts discounted at a market rate of interest. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course |
of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2020 - NIL). |
HURFORD SALVI CARR MANAGEMENT LIMITED (REGISTERED NUMBER: 08254642) |
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Notes to the Financial Statements - continued |
for the year ended 31 July 2021 |
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4. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 August 2020 |
and 31 July 2021 |
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Net book value |
At 31 July 2021 |
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At 31 July 2020 |
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5. | Debtors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Amounts owed by group undertakings |
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6. | Creditors: amounts falling due within one year |
2021 | 2020 |
£ | £ |
Other creditors |
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7. | Creditors: amounts falling due after more than one year |
2021 | 2020 |
£ | £ |
Other creditors |
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Other creditors includes Preference shares classified as financial liabilities. After April 2021 the Preference shares of £400,000 can be converted to Ordinary share which will reduce the company's non-capital liabilities. |
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8. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary share capital issued |
and not fully paid | £1 | 100 | 100 |
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Preference share capital |
issued and fully paid | £1 | 100 | 100 |
200 | 200 |