REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023 |
FOR |
HERONSGATE MANAGEMENT LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 NOVEMBER 2023 |
FOR |
HERONSGATE MANAGEMENT LIMITED |
HERONSGATE MANAGEMENT LIMITED (REGISTERED NUMBER: 00921266) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 1 NOVEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HERONSGATE MANAGEMENT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 1 NOVEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Unit 201, Second Floor |
Metroline House |
118-122 College Road |
Harrow |
Middlesex |
HA1 1BQ |
HERONSGATE MANAGEMENT LIMITED (REGISTERED NUMBER: 00921266) |
BALANCE SHEET |
1 NOVEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Capital redemption reserve | 7 | 64,044 | 64,044 |
Retained earnings | 7 | 314,648 | 274,800 |
SHAREHOLDERS' FUNDS |
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 |
HERONSGATE MANAGEMENT LIMITED (REGISTERED NUMBER: 00921266) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 1 NOVEMBER 2023 |
1. | STATUTORY INFORMATION |
Heronsgate Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on the going concern basis and the directors confirm their belief in the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements. |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Financial instruments |
The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issue' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year not amortised. |
Clarification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at an amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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. |
HERONSGATE MANAGEMENT LIMITED (REGISTERED NUMBER: 00921266) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 1 NOVEMBER 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Taxation and social security |
Other creditors |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 5,000 | 5,000 |
7. | RESERVES |
Capital |
Retained | redemption |
earnings | reserve | Totals |
£ | £ | £ |
At 2 November 2022 | 274,800 | 64,044 | 338,844 |
Profit for the year |
At 1 November 2023 | 314,648 | 64,044 | 378,692 |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
HERONSGATE MANAGEMENT LIMITED (REGISTERED NUMBER: 00921266) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 1 NOVEMBER 2023 |
9. | RELATED PARTY DISCLOSURES |
At the balance sheet date, Three Rivers Property Investments Limited owed the company £246,000 (2022 - £246,000). |
Three Rivers Property Investments Limited is related by virtue of being a fellow subsidiary of Church Cottage Investments Limited. |
10. | ULTIMATE CONTROLLING PARTY |
The ultimate parent company is Church Cottage Investments Limited, a company incorporated in England. The company is controlled by Church Cottage Investments Limited which is the majority shareholder. |