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REGISTERED NUMBER: 00062136 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2018

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 2018




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 2018







Directors: N H Bulmer
C P Bulmer



Registered office: 10 The Southend
Ledbury
Herefordshire
HR8 2EY



Business address: Oak House
Canon Pyon
Hereford
Herefordshire
HR4 8NN



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 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,382,921 1,224,216

CURRENT ASSETS
Debtors 5 180,491 43,739
Cash at bank 1,104,887 1,379,456
1,285,378 1,423,195
CREDITORS
Amounts falling due within one year 6 92,373 82,900
NET CURRENT ASSETS 1,193,005 1,340,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,575,926

2,564,511

PROVISIONS FOR LIABILITIES 114,074 116,737
NET ASSETS 2,461,852 2,447,774

CAPITAL AND RESERVES
Called up share capital 7 15,766 15,766
Fair value reserve 8 914,617 914,617
Capital redemption reserve (165,976 ) (165,976 )
Other reserves 12,459 12,459
Retained earnings 1,684,986 1,670,908
SHAREHOLDERS' FUNDS 2,461,852 2,447,774

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 2018


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 25 October 2018 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 2018

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 2018

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 April 2017 1,224,216
Additions 158,705
At 31 March 2018 1,382,921
Net book value
At 31 March 2018 1,382,921
At 31 March 2017 1,224,216

Fair value at 31 March 2018 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 468,304
1,382,921

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

2018 2017
£    £   
Cost 468,304 309,599

Investment property was valued on an open market basis on 31 March 2018 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 18,295 2,773
Other debtors 22,903 40,966
Directors' current accounts 139,293 -
180,491 43,739

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

Notes to the Financial Statements - continued
for the Year Ended 31 March 2018

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 78,003 364
Tax 2,678 77,326
Directors' current accounts - 1,160
Accrued expenses 11,692 4,050
92,373 82,900

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
15,766 Ordinary £1 15,766 15,766

8. RESERVES
Fair
value
reserve
£   
At 1 April 2017
and 31 March 2018 914,617

9. CAPITAL COMMITMENTS
2018 2017
£    £   
Contracted but not provided for in the
financial statements 800,000 -

The company has capital commitments for around £800,000 for the purchase of land in Anglesey, Wales, on
which a hotel is to be built.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2018 and
31 March 2017:

2018 2017
£    £   
C P Bulmer
Balance outstanding at start of year - -
Amounts advanced 139,293 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 139,293 -

During the year, management fees of £18,000 were paid to CB Developments Limited, a company wholly
owned by CP Bulmer, a Director of this company. The amount of £18,000 represented 3 years worth of
management fees.