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REGISTERED NUMBER: 09068131 (England and Wales)





















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Headland Properties Limited

Headland Properties Limited (Registered number: 09068131)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Headland Properties Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs M W Lovell
G R Lovell





REGISTERED OFFICE: First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN





REGISTERED NUMBER: 09068131 (England and Wales)





ACCOUNTANTS: Mark Ward Chartered Certified Accountants
First Floor Cef Building
Broomhill Way
Torquay
Devon
TQ2 7QN

Headland Properties Limited (Registered number: 09068131)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,548,153 1,625,518

CURRENT ASSETS
Debtors 5 341,064 8,852
Cash at bank 308,638 1,075,942
649,702 1,084,794
CREDITORS
Amounts falling due within one year 6 219,375 387,842
NET CURRENT ASSETS 430,327 696,952
TOTAL ASSETS LESS CURRENT LIABILITIES 1,978,480 2,322,470

CREDITORS
Amounts falling due after more than one
year

7

2,300,000

2,300,000
NET (LIABILITIES)/ASSETS (321,520 ) 22,470

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (321,720 ) 22,270
SHAREHOLDERS' FUNDS (321,520 ) 22,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Headland Properties Limited (Registered number: 09068131)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 June 2023 and were signed on its behalf by:





G R Lovell - Director


Headland Properties Limited (Registered number: 09068131)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Headland Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
In applying the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on cost

Financial instruments
The company holds the following financial instruments:

- Short term trade and other debtors and creditors; and
- Cash and bank balances.

All financial instruments are classified as basic.

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.

Headland Properties Limited (Registered number: 09068131)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 1,582,396 73,111 1,655,507
Additions 251,604 53,411 305,015
Revaluations (359,000 ) - (359,000 )
At 31 March 2023 1,475,000 126,522 1,601,522
DEPRECIATION
At 1 April 2022 6,869 23,120 29,989
Charge for year 2,700 20,680 23,380
At 31 March 2023 9,569 43,800 53,369
NET BOOK VALUE
At 31 March 2023 1,465,431 82,722 1,548,153
At 31 March 2022 1,575,527 49,991 1,625,518

Headland Properties Limited (Registered number: 09068131)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 (359,000 ) - (359,000 )
Cost 1,834,000 126,522 1,960,522
1,475,000 126,522 1,601,522

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 1,851,860 1,582,396
Aggregate depreciation 11,973 6,869

Value of land in freehold land and buildings 390,000 390,000

Freehold land and buildings were valued on an open market basis on 31 March 2023 by Bettesworths Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors - 289
Other debtors 341,064 8,563
341,064 8,852

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade creditors 295 461
Other creditors 219,080 387,381
219,375 387,842

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Other creditors 2,300,000 2,300,000