Registration number:
for the Year Ended
Handston Properties Limited
Contents
Balance Sheet |
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Notes to the Financial Statements |
Handston Properties Limited
(Registration number: 3409778)
Balance Sheet as at 31 December 2016
Note |
2016 |
(As restated) |
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Fixed assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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( |
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Total equity |
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( |
Director's responsibilities:
• |
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• |
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Approved and authorised by the
.........................................
Mr GC Hands
Director
Handston Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
Basis of preparation
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Tax
Handston Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Depreciation
Asset class |
Depreciation method and rate |
Plant |
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Commercial motor vehicles |
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Investment property
Cash and cash equivalents
Trade debtors
Trade creditors
Handston Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Borrowings
Share capital
Investment properties |
2016 |
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At 1 January |
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Fair value adjustments |
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At 31 December |
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Debtors |
2016 |
2015 |
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Trade debtors |
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Total current trade and other debtors |
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Handston Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
2016 |
2015 |
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Trade debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2016 |
2015 |
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Due within one year |
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Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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2016 |
2015 |
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After more than five years by instalments |
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Loans and borrowings |
2016 |
2015 |
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Non-current loans and borrowings |
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Bank borrowings |
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2016 |
2015 |
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Current loans and borrowings |
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Bank borrowings |
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Other borrowings |
- |
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Bank borrowings
The company freehold investment properties are pledged as security for all bank borrowing. |
Included in the loans and borrowings are the following amounts due after more than five years:
Bank loans and overdrafts after five years
Repayable by monthly instalments until 2 February 2025 at base rate plus 1.5%
Handston Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Dividends |
The director is proposing a final dividend of £Nil (2015 - £Nil) per share totalling £Nil (2015 - £Nil). This dividend has not been accrued in the Balance Sheet.
Related party transactions |
Summary of transactions with entities with joint control or significant interest
Loans were made interest free and repayable upon demand
Loans from related parties
2016 |
Entities with joint control or significant influence |
At start of period |
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Advanced |
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Written Off |
( |
At end of period |
- |
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2015 |
Entities with joint control or significant influence |
At start of period |
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Terms of loans from related parties
Transition to FRS 102 |
Handston Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Balance Sheet at 1 January 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
|||||
Investment property |
2,927,862 |
- |
- |
2,927,862 |
|
Current assets |
|||||
Debtors |
15,945 |
- |
- |
15,945 |
|
Cash at bank and in hand |
57,003 |
- |
- |
57,003 |
|
72,948 |
- |
- |
72,948 |
||
Creditors: Amounts falling due within one year |
(1,485,654) |
- |
- |
(1,485,654) |
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Net current liabilities |
(1,412,706) |
- |
- |
(1,412,706) |
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Total assets less current liabilities |
1,515,156 |
- |
- |
1,515,156 |
|
Creditors: Amounts falling due after more than one year |
(2,094,234) |
- |
- |
(2,094,234) |
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Net liabilities |
(579,078) |
- |
- |
(579,078) |
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Capital and reserves |
|||||
Capital redemption reserve |
(2) |
- |
- |
(2) |
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Revaluation reserve |
400,000 |
- |
- |
400,000 |
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Profit and loss account |
179,080 |
- |
- |
179,080 |
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Total equity |
579,078 |
- |
- |
579,078 |
Handston Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Balance Sheet at 31 December 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Fixed assets |
|||||
Investment property |
2,927,862 |
400,000 |
- |
3,327,862 |
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Current assets |
|||||
Debtors |
21,900 |
- |
- |
21,900 |
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Cash at bank and in hand |
25,113 |
- |
- |
25,113 |
|
47,013 |
- |
- |
47,013 |
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Creditors: Amounts falling due within one year |
(1,473,650) |
- |
(1) |
(1,473,651) |
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Net current liabilities |
(1,426,637) |
- |
(1) |
(1,426,638) |
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Total assets less current liabilities |
1,501,225 |
400,000 |
(1) |
1,901,224 |
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Creditors: Amounts falling due after more than one year |
(1,967,024) |
- |
- |
(1,967,024) |
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Net (liabilities)/assets |
(465,799) |
400,000 |
(1) |
(65,800) |
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Capital and reserves |
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Called up share capital |
(2) |
- |
- |
(2) |
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Revaluation reserve |
400,000 |
(400,000) |
- |
- |
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Profit and loss account |
65,801 |
- |
1 |
65,802 |
|
Total equity |
465,799 |
(400,000) |
1 |
65,800 |
Handston Properties Limited
Notes to the Financial Statements for the Year Ended 31 December 2016
Profit and Loss Account for the year ended 31 December 2015
Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
|
Turnover |
- |
241,562 |
- |
241,562 |
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Cost of sales |
46 |
- |
- |
46 |
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Gross profit |
46 |
241,562 |
- |
241,608 |
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Administrative expenses |
(46,304) |
- |
- |
(46,304) |
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Other operating income |
241,562 |
(241,562) |
- |
- |
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Operating profit |
195,304 |
- |
- |
195,304 |
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Interest payable and similar charges |
(82,025) |
- |
- |
(82,025) |
|
(82,025) |
- |
- |
(82,025) |
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Profit before tax |
113,279 |
- |
- |
113,279 |
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Profit for the financial year |
113,279 |
- |
- |
113,279 |