Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31true9false2021-01-019real estate agencytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10133060 2021-01-01 2021-12-31 10133060 2020-01-01 2020-12-31 10133060 2021-12-31 10133060 2020-12-31 10133060 2020-01-01 10133060 c:Director1 2021-01-01 2021-12-31 10133060 c:Director2 2021-01-01 2021-12-31 10133060 c:Director2 2021-12-31 10133060 c:Director3 2021-01-01 2021-12-31 10133060 c:Director4 2021-01-01 2021-12-31 10133060 c:Director4 2021-12-31 10133060 c:RegisteredOffice 2021-01-01 2021-12-31 10133060 d:Buildings 2021-01-01 2021-12-31 10133060 d:Buildings 2021-12-31 10133060 d:Buildings 2020-12-31 10133060 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10133060 d:LandBuildings 2021-12-31 10133060 d:MotorVehicles 2021-01-01 2021-12-31 10133060 d:MotorVehicles 2021-12-31 10133060 d:MotorVehicles 2020-12-31 10133060 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10133060 d:FurnitureFittings 2021-01-01 2021-12-31 10133060 d:FurnitureFittings 2021-12-31 10133060 d:FurnitureFittings 2020-12-31 10133060 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10133060 d:OfficeEquipment 2021-01-01 2021-12-31 10133060 d:OfficeEquipment 2021-12-31 10133060 d:OfficeEquipment 2020-12-31 10133060 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10133060 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 10133060 d:CurrentFinancialInstruments 2021-12-31 10133060 d:CurrentFinancialInstruments 2020-12-31 10133060 d:Non-currentFinancialInstruments 2021-12-31 10133060 d:Non-currentFinancialInstruments 2020-12-31 10133060 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10133060 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 10133060 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 10133060 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 10133060 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 10133060 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-12-31 10133060 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 10133060 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2020-12-31 10133060 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-12-31 10133060 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2020-12-31 10133060 d:ShareCapital 2021-01-01 2021-12-31 10133060 d:ShareCapital 2021-12-31 10133060 d:ShareCapital 2020-01-01 2020-12-31 10133060 d:ShareCapital 2020-12-31 10133060 d:ShareCapital 2020-01-01 10133060 d:CapitalRedemptionReserve 2021-01-01 2021-12-31 10133060 d:CapitalRedemptionReserve 2021-12-31 10133060 d:CapitalRedemptionReserve 2020-12-31 10133060 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 10133060 d:RetainedEarningsAccumulatedLosses 2021-12-31 10133060 d:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 10133060 d:RetainedEarningsAccumulatedLosses 2020-12-31 10133060 d:RetainedEarningsAccumulatedLosses 2020-01-01 10133060 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 10133060 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2020-12-31 10133060 c:FRS102 2021-01-01 2021-12-31 10133060 c:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 10133060 c:FullAccounts 2021-01-01 2021-12-31 10133060 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 10133060 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 10133060










HENLEYS RESIDENTIAL LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
HENLEYS RESIDENTIAL LIMITED
 
 
COMPANY INFORMATION


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




Registered number
10133060



Registered office
12 Church Street

Cromer

Norfolk

NR27 9ER




Accountants
MA Partners LLP
Chartered Accountants

12 Church St

Cromer

Norfolk

NR27 9ER





 
HENLEYS RESIDENTIAL LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Statement of Changes in Equity
 
4 - 5
Notes to the Financial Statements
 
6 - 13


 
HENLEYS RESIDENTIAL LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HENLEYS RESIDENTIAL LIMITED
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 Limited for the year ended 31 December 2021 which comprise the Balance Sheet, the Statement of Changes in Equity 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 Limited, 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 Limited  and state those matters that we have agreed to state to the Board of Directors of Henleys Residential Limited, 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 Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Henleys Residential 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 profit of Henleys Residential Limited. You consider that Henleys Residential Limited 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 Limited. 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 LIMITED
REGISTERED NUMBER: 10133060

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
133,492
113,444

  
133,492
113,444

Current assets
  

Debtors: amounts falling due within one year
 5 
64,590
74,029

Cash at bank and in hand
 6 
32,081
193,455

  
96,671
267,484

Creditors: amounts falling due within one year
 7 
(125,453)
(90,733)

Net current (liabilities)/assets
  
 
 
(28,782)
 
 
176,751

Total assets less current liabilities
  
104,710
290,195

Creditors: amounts falling due after more than one year
 8 
(121,742)
(147,560)

  

Net (liabilities)/assets
  
(17,032)
142,635


Capital and reserves
  

Called up share capital 
  
50
100

Capital redemption reserve
  
50
-

Profit and loss account
  
(17,132)
142,535

  
(17,032)
142,635

Page 2

 
HENLEYS RESIDENTIAL LIMITED
REGISTERED NUMBER: 10133060
    
BALANCE SHEET (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

Page 3

 
HENLEYS RESIDENTIAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2021


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 January 2021
100
-
142,535
142,635


Comprehensive income for the year

Profit for the year

-
-
238,833
238,833


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
238,833
238,833

Dividends: Equity capital
-
-
(163,500)
(163,500)

Purchase of own shares
-
50
(235,000)
(234,950)

Shares cancelled during the year
(50)
-
-
(50)


Total transactions with owners
(50)
50
(398,500)
(398,500)


At 31 December 2021
50
50
(17,132)
(17,032)


The notes on pages 6 to 13 form part of these financial statements.
Page 4

 
HENLEYS RESIDENTIAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2020


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 January 2020
100
97,122
97,222


Comprehensive income for the year

Profit for the year

-
98,913
98,913


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
98,913
98,913

Dividends: Equity capital
-
(53,500)
(53,500)


Total transactions with owners
-
(53,500)
(53,500)


At 31 December 2020
100
142,535
142,635


The notes on pages 6 to 13 form part of these financial statements.
Page 5

 
HENLEYS RESIDENTIAL LIMITED
 
 
 
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 company's principal activity is that of real estate agency.  

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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 the 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;
• it is probable that the Company will receive the consideration due 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.

Page 6

 
HENLEYS RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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 balance sheet date in the countries where the Company operates and generates income.

 
2.10

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.

Page 7

 
HENLEYS RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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:

Freehold property
-
Not provided
Motor vehicles
-
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.

 
2.11

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.

 
2.12

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.

 
2.13

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 8

 
HENLEYS RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.14

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.

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2.15

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 9 (2020 - 9).

Page 9

 
HENLEYS RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2021
108,948
-
2,398
9,248
120,594


Additions
-
26,440
1,116
697
28,253



At 31 December 2021

108,948
26,440
3,514
9,945
148,847



Depreciation


At 1 January 2021
-
-
1,756
5,395
7,151


Charge for the year on owned assets
-
6,610
443
1,151
8,204



At 31 December 2021

-
6,610
2,199
6,546
15,355



Net book value



At 31 December 2021
108,948
19,830
1,315
3,399
133,492




The net book value of land and buildings may be further analysed as follows:


2021
£

Freehold
108,948

108,948


Page 10

 
HENLEYS RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Debtors

2021
2020
£
£


Trade debtors
23,140
7,860

Other debtors
41,129
65,737

Prepayments and accrued income
321
432

64,590
74,029



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
32,081
193,456

32,081
193,456



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
12,145
16,899

Trade creditors
6,018
4,095

Amounts owed to group undertakings
25,629
15,338

Corporation tax
52,477
23,229

Other taxation and social security
23,356
30,272

Obligations under finance lease and hire purchase contracts
4,321
-

Other creditors
567
-

Accruals and deferred income
940
900

125,453
90,733


Page 11

 
HENLEYS RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
102,068
147,560

Net obligations under finance leases and hire purchase contracts
19,674
-

121,742
147,560



9.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£

Amounts falling due within one year

Bank loans
12,145
16,899


12,145
16,899

Amounts falling due 1-2 years

Bank loans
12,545
21,478


12,545
21,478

Amounts falling due 2-5 years

Bank loans
33,703
60,491


33,703
60,491

Amounts falling due after more than 5 years

Bank loans
55,819
65,591

55,819
65,591

114,212
164,459


Page 12

 
HENLEYS RESIDENTIAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

10.


Hire purchase and finance leases


2021
2020
£
£

 
-
 
-


11.


Financial instruments

2021
2020
£
£

Financial assets


Financial assets measured at fair value through profit or loss
32,081
193,456




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


12.


Related party transactions

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

 
Page 13