Company Registration No. 08063426 (England and Wales)
HOOK WREN FLATS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
HOOK WREN FLATS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
HOOK WREN FLATS LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,054
2,416
Investments
2
922,146
922,146
924,200
924,562
Current assets
Cash at bank and in hand
2,260
3,629
Creditors: amounts falling due within one year
(160,436)
(186,488)
Net current liabilities
(158,176)
(182,859)
Total assets less current liabilities
766,024
741,703
Creditors: amounts falling due after more than one year
(658,000)
(658,000)
108,024
83,703
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
108,022
83,701
Shareholders' funds
108,024
83,703
For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 May 2017
Mr Z Bishnani
Director
Company Registration No. 08063426
HOOK WREN FLATS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
At the year end the company reported net current liabilities of £158,176 (2015 - £182,859). The company meets its day to day working capital requirements via the support of its creditors and directors. The directors do not believe this support will be withdrawn to the detriment of the company within twelve months from the date of signature of these financial statements, and accordingly consider it appropriate to prepare them on a going concern basis.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment
15% reducing balance basis
1.5
Investments
Investment properties are included in the balance sheet at their open market value.
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 June 2015 & at 31 May 2016
3,934
922,146
926,080
Depreciation
At 1 June 2015
1,518
-
1,518
Charge for the year
362
-
362
At 31 May 2016
1,880
-
1,880
Net book value
At 31 May 2016
2,054
922,146
924,200
At 31 May 2015
2,416
922,146
924,562
Should the investments be sold at their valuation, a tax charge not exceeding £nil would arise.
HOOK WREN FLATS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 ordinary shares of £1 each
2
2
4
Related party relationships and transactions
At the year end the directors were owed £134,622 (2015 - £156,000).