REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016 |
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HOLLYFIELD DEVELOPMENTS LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2016 |
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FOR |
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HOLLYFIELD DEVELOPMENTS LIMITED |
HOLLYFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04163219) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the year ended 31 March 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
HOLLYFIELD DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
for the year ended 31 March 2016 |
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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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BANKERS: |
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HOLLYFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04163219) |
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ABBREVIATED BALANCE SHEET |
31 March 2016 |
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2016 | 2015 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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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 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 2 |
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Profit and loss account |
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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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The financial statements were approved by the Board of Directors on
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HOLLYFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04163219) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the year ended 31 March 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences which have originated but not reversed at the |
balance sheet date. Timing differences are differences between taxable profits and the results as stated in the |
financial statements which arise from the inclusion of gains and losses in tax assessments in periods different |
from those in which they are recognised in the financial statements. |
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A net deferred tax asset is regarded as recoverable and therefore recognised only when it can be regarded as |
more likely than not that there will be suitable taxable profits from which the future reversal of underlying timing |
differences can be deducted. |
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Deferred tax is not recognised when fixed assets are revalued unless by the balance sheet date there is a binding |
agreement to sell the revalued asset and the resulting gain or loss has been recognised in the financial |
statements. Neither is deferred tax recognised when fixed assets are sold and it is more likely than not that the |
taxable gain will be rolled over, being charged to tax only if and when the replacement assets are sold. |
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Deferred tax is measured at the average tax rates which are expected to apply in the periods in which the timing |
differences are expected to reverse, based on tax rates and laws which have been enacted or substantively |
enacted by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
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2. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Share capital 1 | £1 |
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3. | RELATED PARTY DISCLOSURES |
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Director |
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During the year interest of £27,000 (2015 £6,750) has been paid to Mr S J Smith on loans to the company. |
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2016 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date |
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HOLLYFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04163219) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the year ended 31 March 2016 |
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3. | RELATED PARTY DISCLOSURES - continued |
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Director |
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2016 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date |
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MCB & SJS Pension Fund |
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The company is the sponsoring employer of the pension fund. |
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Two of the directors S J Smith and M C Brook are trustees of the MCB & SJS Pension Fund. |
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Mrs J E Smith |
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Spouse of director S J Smith |
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During the year interest of £nil (2015 £20,250) has been paid to Mrs J E Smith on loans to the company. The |
loans were repaid in January 2015. |
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Mrs J E Brook |
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Spouse of director M C Brook |
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During the year interest of £27,000 (2015 £27,000) has been paid to Mrs J E Brook on loans to the company. |
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2016 | 2015 |
£ | £ |
Amount due to related party at the balance sheet date |
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