Registered number:
Unaudited
For the Year Ended
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Holdfield Group (No.2) Limited
Chartered Accountants' Report to the Director on the preparation of the Unaudited Statutory Financial Statements of Holdfield Group (No.2) Limited for the Year Ended 30 June 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Holdfield Group (No.2) Limited for the year ended 30 June 2019 which comprise the Balance Sheet
and the related notes from the company's accounting records and from information and explanations you have given us.
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 at
http://www.icaew.com/en/
members/regulations-standards-and-guidance/
.
This report is made solely to the director of Holdfield Group (No.2) Limited in accordance with the terms of our engagement letter dated
8 February 2017. Our work has been undertaken solely
to prepare for your approval the financial statements of Holdfield Group (No.2) Limited and state those matters that we have agreed to state to the director of Holdfield Group (No.2) Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holdfield Group (No.2) Limited and its director for our work or for this report.
It is your duty to ensure that Holdfield Group (No.2) 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 Holdfield Group (No.2) Limited. You consider that Holdfield Group (No.2) Limited is exempt from the statutory audit requirement for the year.
Chartered Accountants
37 St Margaret's Street
Kent
CT1 2TU
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Holdfield Group (No.2) Limited
Registered number:
05119006
Balance Sheet
As at
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 3 to 5 form part of these financial statements.
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Holdfield Group (No.2) Limited
Notes to the Financial Statements
For the Year Ended 30 June 2019
Holdfield Group (No.2) Limited is a private company, limited by shares, domiciled in England and Wales, registration number 05119006. The registered office is Chance House, Pips, Lewes Road, East Grinstead, RH19 3TB.
2.
Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The following principal accounting policies have been applied:
Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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Holdfield Group (No.2) Limited
Notes to the Financial Statements
For the Year Ended 30 June 2019
2.
Accounting policies (continued)
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance Sheet.
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Holdfield Group (No.2) Limited
Notes to the Financial Statements
For the Year Ended 30 June 2019
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