Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falsereal estate agents44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11915824 2021-01-01 2021-12-31 11915824 2020-01-01 2020-12-31 11915824 2021-12-31 11915824 2020-12-31 11915824 c:Director1 2021-01-01 2021-12-31 11915824 c:Director2 2021-01-01 2021-12-31 11915824 c:Director3 2021-01-01 2021-12-31 11915824 c:Director3 2021-12-31 11915824 c:Director4 2021-01-01 2021-12-31 11915824 c:Director4 2021-12-31 11915824 c:RegisteredOffice 2021-01-01 2021-12-31 11915824 d:FurnitureFittings 2021-01-01 2021-12-31 11915824 d:FurnitureFittings 2021-12-31 11915824 d:FurnitureFittings 2020-12-31 11915824 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 11915824 d:OfficeEquipment 2021-01-01 2021-12-31 11915824 d:OfficeEquipment 2021-12-31 11915824 d:OfficeEquipment 2020-12-31 11915824 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 11915824 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 11915824 d:CurrentFinancialInstruments 2021-12-31 11915824 d:CurrentFinancialInstruments 2020-12-31 11915824 d:Non-currentFinancialInstruments 2021-12-31 11915824 d:Non-currentFinancialInstruments 2020-12-31 11915824 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11915824 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 11915824 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 11915824 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 11915824 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 11915824 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-12-31 11915824 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 11915824 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 11915824 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 11915824 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 11915824 d:ShareCapital 2021-12-31 11915824 d:ShareCapital 2020-12-31 11915824 d:RetainedEarningsAccumulatedLosses 2021-12-31 11915824 d:RetainedEarningsAccumulatedLosses 2020-12-31 11915824 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 11915824 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 11915824 c:FRS102 2021-01-01 2021-12-31 11915824 c:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 11915824 c:FullAccounts 2021-01-01 2021-12-31 11915824 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 11915824









HENLEYS RESIDENTIAL NORTH WALSHAM LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
COMPANY INFORMATION


Directors
Jeffrey Edmund Cox 
Ann Cox 
Ryan Millar Ratcliffe , resigned 17 December 2021)
Yasmin Victoria Abel , resigned 17 December 2021)




Registered number
11915824



Registered office
12 Church St

Cromer

Norfolk

NR27 9ER




Trading Address
15 Market Place

North Walsham

Norfolk

NR28 9BP






Accountants
MA Partners LLP
Chartered Accountants

12 Church St

Cromer

Norfolk

NR27 9ER





 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 

CONTENTS



Page
Accountants' report
 
1
Statement of financial position
 
2 - 3
Notes to the financial statements
 
4 - 10


 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HENLEYS RESIDENTIAL NORTH WALSHAM LTD
FOR THE YEAR ENDED 31 DECEMBER 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Henleys Residential North Walsham Ltd for the year ended 31 December 2021 which comprise the Statement of financial position 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 https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Henleys Residential North Walsham Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Henleys Residential North Walsham Ltd  and state those matters that we have agreed to state to the Board of directors of Henleys Residential North Walsham Ltd, as a body, 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 Henleys Residential North Walsham Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Henleys Residential North Walsham Ltd 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 profit of Henleys Residential North Walsham Ltd. You consider that Henleys Residential North Walsham Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Henleys Residential North Walsham Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church St
Cromer
Norfolk
NR27 9ER
11 August 2022
Page 1

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
REGISTERED NUMBER: 11915824

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,687
2,765

  
2,687
2,765

Current assets
  

Debtors: amounts falling due within one year
 5 
80,342
15,505

Cash at bank and in hand
 6 
72,285
97,368

  
152,627
112,873

Creditors: amounts falling due within one year
 7 
(65,290)
(47,939)

Net current assets
  
 
 
87,337
 
 
64,934

Total assets less current liabilities
  
90,024
67,699

Creditors: amounts falling due after more than one year
 8 
(17,083)
(22,242)

  

Net assets
  
72,941
45,457


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
72,841
45,357

  
72,941
45,457


Page 2

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
REGISTERED NUMBER: 11915824
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 income and retained earnings 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 on 11 August 2022.




Jeffrey Edmund Cox
Ann Cox
Director
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

The Company is a United Kingdom company limited by shares. It is both incorporated and domiciled in England and Wales. The address of its registered office is 12 Church Street, Cromer, Norfolk, NR27 9ER.
The principal activity for the company is that of real estate agent services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

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:

 
2.2

Going concern

In light of coronavirus (COVID-19) the directors have considered a period of twelve months from the date of approval of the financial statements. They consider that projected income together with current cash reserves will be more than adequate for the company's needs. As such they believe that the financial statements should be prepared on a going concern basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue is comprised of commission from the sale or letting of properties and referrals for mortgages and from solicitors. The contract is recognised in the period in which all services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- its is probable the the Company will reveive the consideration under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

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.

 
2.10

Creditors

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.

Page 5

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2020 - 4).

Page 6

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2021
3,148
1,648
4,796


Additions
-
819
819



At 31 December 2021

3,148
2,467
5,615



Depreciation


At 1 January 2021
1,377
654
2,031


Charge for the year on owned assets
443
454
897



At 31 December 2021

1,820
1,108
2,928



Net book value



At 31 December 2021
1,328
1,359
2,687



At 31 December 2020
1,771
994
2,765

Page 7

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Debtors

2021
2020
£
£


Trade debtors
3,400
-

Amounts owed by joint ventures and associated undertakings
25,630
15,338

Other debtors
51,255
100

Prepayments and accrued income
57
67

80,342
15,505



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
72,285
97,368

72,285
97,368



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
5,000
2,758

Trade creditors
473
3,104

Corporation tax
14,328
9,643

Other taxation and social security
4,624
1,609

Accruals and deferred income
40,865
30,825

65,290
47,939



8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
17,083
22,242

17,083
22,242


Page 8

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
5,000
2,758


5,000
2,758

Amounts falling due 1-2 years

Bank loans
5,000
4,823


5,000
4,823

Amounts falling due 2-5 years

Bank loans
12,083
15,214


12,083
15,214

Amounts falling due after more than 5 years

Bank loans
-
2,205

-
2,205

22,083
25,000


Page 9

 
HENLEYS RESIDENTIAL NORTH WALSHAM LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Financial instruments

2021
2020
£
£

Financial assets


Financial assets measured at fair value through profit or loss
72,285
97,368




Financial assets measured at fair value through profit or loss comprise of cash and cash equivalents.


11.


Related party transactions

The directors are also the directors and shareholders of Henleys Residential Limited. During the year, Henleys Residential Limited advanced funds and made payments on behalf of the company totalling £49,619 (2020 £56,746). During the year, the company made payments on behalf of Henleys Residential Limited totalling £26,390 (2020 £28,890) and made repayments to Henleys Residential Limited in the sum of £33,520 (2020 £55,000). At the year end, Henleys Residential Limited owed the company £25,629 (2020  £15,338).

 
Page 10