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Unaudited Financial Statements |
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for the Year Ended 30 April 2017 |
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for |
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Carlam Hill Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2017 |
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for |
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Carlam Hill Ltd |
Carlam Hill Ltd (Registered number: 09533580) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2017 |
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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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Carlam Hill Ltd |
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Company Information |
for the Year Ended 30 April 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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14a Waterside Business Park |
Livingstone Road |
Hessle |
East Yorkshire |
HU13 0EG |
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BANKERS: |
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PO Box 4 |
3 Cambridge Crescent |
Harrogate |
HG1 1PE |
Carlam Hill Ltd (Registered number: 09533580) |
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Balance Sheet |
30 April 2017 |
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30.4.17 | 30.4.16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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Retained earnings | 7 |
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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 Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Carlam Hill Ltd (Registered number: 09533580) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2017 |
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1. | STATUTORY INFORMATION |
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Carlam Hill Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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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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Turnover |
Turnover represents property rents and electricity income. |
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Revenue is recognised under an exchange transaction with a customer when, and to the extent that, the company |
receives a right to consideration from its performance. |
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Part completed contracts at the year-end that fulfil the criteria are included in these financial statements based on |
their fair value of the right to consideration at the balance sheet date. |
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Investment property |
Investment properties are included in the financial statements at their open market value. Any aggregate surplus |
or deficit arising from changes in market value is transferred to a revaluation reserve. |
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In accordance with Statement of Standard Accounting Practice No. 19, depreciation is not provided on freehold |
investment properties. This is a departure from the Companies Act 2006, which requires all properties to be |
depreciated. Such properties are not held for consumption but for investment and the directors consider that to |
depreciate them would not give a true and fair view. The properties are to be revalued on a regular basis. |
Depreciation is only one of the many factors reflected in the annual valuation of properties and accordingly the |
amount of depreciation, which might otherwise have been charged, cannot be separately identified or quantified, |
the directors consider that this policy results in the accounts giving a true and fair view. |
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The investment property is let on a commercial terms basis with rental income being recognized in the period |
that it is due. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
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 balance sheet date. |
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Carlam Hill Ltd (Registered number: 09533580) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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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 balance |
sheet 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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Going concern |
Despite the company having net current liabilities of £338,511 (2016 £339,148) the directors expect the |
company to make profits in future. |
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The directors, having made due and careful enquiry, are of the opinion that the company has adequate working |
capital to execute its operations for the next 12 months as they have the continued support of the shareholders. |
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The directors therefore have made an informed judgement, at the time of approving the financial statements, that |
there is reasonable expectation that the company has adequate resources to continue in operational existence for |
the foreseeable future. As a result the directors have continued to adopt the going concern basis of accounting in |
preparing the annual financial statements. |
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3. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2016 |
and 30 April 2017 |
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NET BOOK VALUE |
At 30 April 2017 |
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At 30 April 2016 |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.17 | 30.4.16 |
£ | £ |
Trade creditors |
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Tax |
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Other creditors |
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Directors' current accounts | 329,030 | 329,030 |
Accrued expenses |
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Carlam Hill Ltd (Registered number: 09533580) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.4.17 | 30.4.16 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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7. | RESERVES |
Retained |
earnings |
£ |
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At 1 May 2016 | ( |
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Profit for the year |
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At 30 April 2017 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the year ended 30 April 2017 and the period |
ended 30 April 2016: |
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30.4.17 | 30.4.16 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid |
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( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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9. | RELATED PARTY DISCLOSURES |
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Carlam Hill Ltd paid a management fee of £35,000 (2016 - £3,420) to T R, P and Mrs P Fisher, a partnership |
under common ownership. |
Carlam Hill Ltd (Registered number: 09533580) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the directors. |
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11. | FIRST YEAR ADOPTION |
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On transition to FRS102 the company has taken advantage of the following transitional relief: |
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- Not to disclose the reconciliation of equity and profit and loss due to no subsequent changes. |