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COMPANY REGISTRATION NUMBER: 07110277
Heronslea (Freeholds) Ltd
Filleted Unaudited Financial Statements
30 April 2023
Heronslea (Freeholds) Ltd
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Current assets
Debtors
5
111,742
97,956
Cash at bank and in hand
1
---------
--------
111,743
97,956
Creditors: amounts falling due within one year
6
27,375
20,850
---------
--------
Net current assets
84,368
77,106
--------
--------
Total assets less current liabilities
84,368
77,106
--------
--------
Net assets
84,368
77,106
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
84,366
77,104
--------
--------
Shareholders funds
84,368
77,106
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 16 July 2024 , and are signed on behalf of the board by:
Mr Jason Marc Rishover
Director
Company registration number: 07110277
Heronslea (Freeholds) Ltd
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jubilee House, Townsend Lane, Kingbsury, London, NW9 8TZ, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Debtors
2023
2022
£
£
Trade debtors
2,500
1,900
Other debtors
109,242
96,056
---------
--------
111,742
97,956
---------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
151
Corporation tax
10,931
8,278
Amounts owed to Associates
5,046
1,960
Other creditors
11,247
10,612
--------
--------
27,375
20,850
--------
--------
7. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr Jason Marc Rishover
6,195
( 6,195)
Mr Jamie Daniel Rishover
1,885
( 1,885)
-------
----
-------
----
8,080
( 8,080)
-------
----
-------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr Jason Marc Rishover
6,195
6,195
Mr Jamie Daniel Rishover
1,885
1,885
----
-------
----
-------
8,080
8,080
----
-------
----
-------
8. Related party transactions
At the year end the company was owed £31,550 (2022 - £86,045) by Heronslea Limited, where J M Rishover is the director of the company. At the year end the company owed £93 (2022 - £93) to Heronslea (Claybury) Limited i, where J M Rishover is the director of the company. At the year end the company owed £667 (2022 - £667) to Heronslea (Patchetts) Limited, where J D Rishover is the director of the company. At the year end the company owed £4,287 (2022 - £1,200) to JDR Property Group Limited, where J D Rishover is the director of the company. At the year end the company was owed £2,850 (2022 - £697) by Rishco (Freeholds) Limited, where J M Rishover is the director of the company. At the year end the company was owed £10 (2022 - £5) by JJJ (Freeholds) Limited, where J D Rishover and J M Rishover are also the directors of the company. At the year end the company was owed £7,745 (2022 - NIL) by Heronslea (Camlet) Limited, where J M Rishover is the director of the company. At the year end the company was owed £10,000 (2022 - NIL) by Rishco Ltd , where J M Rishover is the director of the company. At the year end the company was owed £56,844 (2022 - NIL) by Heronslea (Elstree) Ltd, where J M Rishover is the director of the company.
9. Controlling party
The ultimate controlling party are the directors.