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REGISTERED NUMBER: 00062136 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Hereford Dwellings Company Limited(The)

Hereford Dwellings Company Limited(The) (Registered number: 00062136)






Contents of the Financial Statements
for the Year Ended 31 March 2017




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Hereford Dwellings Company Limited(The)

Company Information
for the Year Ended 31 March 2017







Directors: N H Bulmer
C P Bulmer



Secretary:



Registered office: 10 The Southend
Ledbury
Herefordshire
HR8 2EY



Registered number: 00062136 (England and Wales)



Accountants: Crowthers Chartered Accountants
10 The Southend
Ledbury
Herefordshire
HR8 2EY



Bankers: National Westminster Bank PLC
12 Broad Street
Hereford
HR4 9AH

Hereford Dwellings Company Limited(The) (Registered number: 00062136)

Statement of Financial Position
31 March 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,224,216 1,964,547

CURRENT ASSETS
Debtors 5 43,739 9,338
Cash at bank 1,379,456 833,750
1,423,195 843,088
CREDITORS
Amounts falling due within one year 6 82,900 15,178
NET CURRENT ASSETS 1,340,295 827,910
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,564,511

2,792,457

CREDITORS
Amounts falling due after more than one
year

7

-

(94,535

)

PROVISIONS FOR LIABILITIES 9 (116,737 ) (219,719 )
NET ASSETS 2,447,774 2,478,203

CAPITAL AND RESERVES
Called up share capital 10 15,766 15,766
Fair value reserve 11 914,617 1,656,190
Capital redemption reserve 11 (165,976 ) (165,976 )
Other reserves 11 12,459 12,459
Retained earnings 11 1,670,908 959,764
SHAREHOLDERS' FUNDS 2,447,774 2,478,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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.

Hereford Dwellings Company Limited(The) (Registered number: 00062136)

Statement of Financial Position - continued
31 March 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 19 December 2017 and were signed on its behalf
by:





C P Bulmer - Director


Hereford Dwellings Company Limited(The) (Registered number: 00062136)

Notes to the Financial Statements
for the Year Ended 31 March 2017

1. STATUTORY INFORMATION

Hereford Dwellings Company Limited(The) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The functional currency of Hereford Dwellings Company Limited is considered to be pounds sterling because
that is the currency of the primary economic environment in which the company operates.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates
and assumptions about the carrying amount 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. Therefore 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.

Within the company, the area where there is significant estimation of uncertainty is Investment Property. The
Investment Property has been partly valued by an Independent Valuer at fair value. The remaining properties
have been valued by the directors at what they believe to be fair value.

Turnover
Turnover represents the amounts invoiced, excluding value added tax, in respect of rental charges.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of financial position 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.

Hereford Dwellings Company Limited(The) (Registered number: 00062136)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - 2 ).

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2016 1,964,547
Additions 8,719
Disposals (749,050 )
At 31 March 2017 1,224,216
Net book value
At 31 March 2017 1,224,216
At 31 March 2016 1,964,547

Fair value at 31 March 2017 is represented by:

£   
Valuation in 2007 1,272,953
Valuation in 2015 776,115
Valuation in 2016 (392,878 )
Valuation in 2017 (741,573 )
Cost 309,599
1,224,216

If Investment property had not been revalued it would have been included at the following historical cost:

2017 2016
£    £   
Cost 309,599 308,357

Investment property was valued on an open market basis on 31 March 2017 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 2,773 4,338
Other debtors 40,966 5,000
43,739 9,338

Hereford Dwellings Company Limited(The) (Registered number: 00062136)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts - 2,888
Trade creditors 364 1,888
Tax 77,326 7,023
Directors' current accounts 1,160 -
Accrued expenses 4,050 3,379
82,900 15,178

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans - 1-2 years - 2,968
Bank loans - 2-5 years - 9,410
Bank loans more 5 yr by instal - 82,157
- 94,535

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 82,157

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans - 97,423

The bank overdraft is secured by a debenture.

9. PROVISIONS FOR LIABILITIES
2017 2016
£    £   
Deferred tax 116,737 219,719

Deferred
tax
£   
Balance at 1 April 2016 219,719
Credit to Income Statement during year (102,982 )
Balance at 31 March 2017 116,737

Hereford Dwellings Company Limited(The) (Registered number: 00062136)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2017

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2017 2016
value: £    £   
15,766 Ordinary £1 15,766 15,766

11. RESERVES
Fair Capital
Retained value redemption Other
earnings reserve reserve reserves Totals
£    £    £    £    £   

At 1 April 2016 959,764 1,656,190 (165,976 ) 12,459 2,462,437
Deficit for the year (30,429 ) (30,429 )
Fair value adjustments 741,573 (741,573 ) - - -
At 31 March 2017 1,670,908 914,617 (165,976 ) 12,459 2,432,008