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Unaudited Financial Statements for the Year Ended 31 December 2021 |
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Henslowe Estates Limited |
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Unaudited Financial Statements for the Year Ended 31 December 2021 |
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for |
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Henslowe Estates Limited |
Henslowe Estates Limited (Registered number: 09531417) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Statement of Financial Position | 3 |
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Notes to the Financial Statements | 5 |
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Henslowe Estates Limited |
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Company Information |
for the Year Ended 31 December 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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Endeavour House |
78 Stafford Road |
Wallington |
Surrey |
SM6 9AY |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Henslowe Estates Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Henslowe Estates Limited for the year ended 31 December 2021 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of Henslowe Estates Limited, as a body, in accordance with the terms of our engagement letter dated 28 June 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Henslowe Estates Limited and state those matters that we have agreed to state to the Board of Directors of Henslowe Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Henslowe Estates Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Henslowe Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Henslowe Estates Limited. You consider that Henslowe Estates Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Henslowe Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Endeavour House |
78 Stafford Road |
Wallington |
Surrey |
SM6 9AY |
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Henslowe Estates Limited (Registered number: 09531417) |
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Statement of Financial Position |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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272,078 | 292,516 |
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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 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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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
Henslowe Estates Limited (Registered number: 09531417) |
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Statement of Financial Position - continued |
31 December 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement 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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Henslowe Estates Limited (Registered number: 09531417) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Henslowe Estates Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
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The principal business address is the registered office. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The preparation of the financial statements requires the directors to make an assessment of the entity's ability to continue as a going concern. The directors have reviewed in particular the impact of the COVID-19 pandemic and have concluded that it remains appropriate to prepare these financial statements on a going concern basis. |
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During the COVID-19 pandemic the directors took advantage of various government support packages available to the company, which included a bounce back loan, VAT payment deferral, a government grant and the Coronavirus Job Retention Scheme. |
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Revenue |
Revenue represents sales commissions, excluding VAT, recognised on exchange of contracts. Revenue also includes property lettings and management income, excluding VAT, recognised in the period to which it relates. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Office equipment | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Henslowe Estates Limited (Registered number: 09531417) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | PROPERTY, PLANT AND EQUIPMENT |
Improvements |
to | Plant and | Office |
property | machinery | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2021 |
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Additions |
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At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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Henslowe Estates Limited (Registered number: 09531417) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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5. | DEBTORS |
2021 | 2020 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Corporation tax |
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Prepayments and accrued income |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Other loans |
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Trade creditors |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts |
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Accruals and deferred income |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 2-5 years |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2021 | 2020 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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Henslowe Estates Limited (Registered number: 09531417) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Other loans |
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Montrose Land and Developments Limited, A Nicholls, E Mantovani and N Pearce hold a pari passu deed securing their loan facility to Henslowe Estates Limited by way of a legal mortgage and a fixed and floating charge over the assets of the company. |
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10. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 35,435 | 38,786 |
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Deferred |
tax |
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Balance at 1 January 2021 |
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Credit to Statement of Comprehensive Income during year | ( |
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Balance at 31 December 2021 |
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11. | RELATED PARTY DISCLOSURES |
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N Pearce, a director of the company, is also a director of Circa London Hong Kong, a company incorporated in Hong Kong. Henslowe Estates Limited has committed to invest in the share capital of Circa London Hong Kong, but no payments for share capital have yet been made. |
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At the balance sheet date, the amounts outstanding were as follows: |
2021 | 2020 |
Due from | Due to | Due from | Due to |
£ | £ | £ | £ |
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Circa London Hong Kong | 93,954 | - | 93,954 | - |