REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 March 2023 |
for |
Headcorn Investments Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 March 2023 |
for |
Headcorn Investments Ltd |
Headcorn Investments Ltd (Registered number: 03980119) |
Contents of the Financial Statements |
for the Year Ended 30 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Headcorn Investments Ltd |
Company Information |
for the Year Ended 30 March 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountancy & Taxation Advisers |
Bank Chambers |
Brook Street |
Bishops Waltham |
Hampshire |
SO32 1AX |
Headcorn Investments Ltd (Registered number: 03980119) |
Balance Sheet |
30 March 2023 |
30.3.23 | 30.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Fair value reserve | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Headcorn Investments Ltd (Registered number: 03980119) |
Balance Sheet - continued |
30 March 2023 |
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 |
Headcorn Investments Ltd (Registered number: 03980119) |
Notes to the Financial Statements |
for the Year Ended 30 March 2023 |
1. | STATUTORY INFORMATION |
Headcorn Investments Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant & office equipment | - |
Fixtures & fittings | - |
Computer equipment | - |
Investment property |
The company's properties are held for long term investment and are included in the Balance Sheet at their fair values. Gains are recognised in the fair value reserve. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
Financial instruments |
The Company only enters into basic financial instruments 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 non-puttable ordinary shares. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
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. |
Creditors |
Short term creditors are measured at the transaction price. |
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. |
Headcorn Investments Ltd (Registered number: 03980119) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Employee benefits |
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant & |
office | Fixtures | Computer |
equipment | & fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 31 March 2022 |
and 30 March 2023 |
DEPRECIATION |
At 31 March 2022 |
Charge for year |
At 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 30 March 2022 |
5. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 31 March 2022 |
and 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 30 March 2022 |
Headcorn Investments Ltd (Registered number: 03980119) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 March 2022 |
and 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 30 March 2022 |
Fair value at 30 March 2023 is represented by: |
£ |
Valuation in 2005 | 155,000 |
Valuation in 2006 | (23,000 | ) |
Valuation in 2007 | 133,000 |
Valuation in 2008 | (30,000 | ) |
Valuation in 2011 | (145,000 | ) |
Valuation in 2014 | 65,000 |
Valuation in 2016 | 30,000 |
Valuation in 2018 | 20,000 |
Valuation in 2021 | 10,000 |
Valuation in 2022 | 10,000 |
Cost | 356,796 |
581,796 |
If the investment properties had not been revalued they would have been included at the following historical cost: |
30.3.23 | 30.3.22 |
£ | £ |
Cost | 356,796 | 356,796 |
The investment properties were valued on an open market basis on 6 June 2022 by the directors of the company . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.23 | 30.3.22 |
£ | £ |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.23 | 30.3.22 |
£ | £ |
Taxation and social security |
Other creditors |
Headcorn Investments Ltd (Registered number: 03980119) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.3.23 | 30.3.22 |
£ | £ |
Bank loans |
10. | PROVISIONS FOR LIABILITIES |
30.3.23 | 30.3.22 |
£ | £ |
Deferred tax | 22,319 | 22,338 |
Deferred |
tax |
£ |
Balance at 31 March 2022 |
Movement in accelerated |
capital allowances | (19 | ) |
Balance at 30 March 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.3.23 | 30.3.22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
12. | RESERVES |
Fair |
value |
reserve |
£ |
At 31 March 2022 |
and 30 March 2023 |