Hantall Developments Limited 30/09/2018 iXBRL

Hantall Developments Limited 30/09/2018 iXBRL

HANTALL DEVELOPMENTS LIMITED - Company Information

Print Friendly Version

30/09/2018 2018-09-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-10-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 02092684 2017-10-01 2018-09-30 02092684 2018-09-30 02092684 2017-09-30 02092684 2016-10-01 2017-09-30 02092684 2017-09-30 02092684 core:PlantMachinery 2017-10-01 2018-09-30 02092684 core:FurnitureFittingsToolsEquipment 2017-10-01 2018-09-30 02092684 core:MotorVehicles 2017-10-01 2018-09-30 02092684 core:OnerousContractsExcludingVacantProperties 2017-10-01 2018-09-30 02092684 bus:RegisteredOffice 2017-10-01 2018-09-30 02092684 bus:LeadAgentIfApplicable 2017-10-01 2018-09-30 02092684 bus:Director1 2017-10-01 2018-09-30 02092684 bus:Director2 2017-10-01 2018-09-30 02092684 bus:Director3 2017-10-01 2018-09-30 02092684 bus:CompanySecretary1 2017-10-01 2018-09-30 02092684 core:PlantMachinery 2017-09-30 02092684 core:FurnitureFittingsToolsEquipment 2017-09-30 02092684 core:MotorVehicles 2017-09-30 02092684 core:LandBuildings core:OwnedOrFreeholdAssets 2018-09-30 02092684 core:PlantMachinery 2018-09-30 02092684 core:FurnitureFittingsToolsEquipment 2018-09-30 02092684 core:MotorVehicles 2018-09-30 02092684 core:WithinOneYear 2018-09-30 02092684 core:WithinOneYear 2017-09-30 02092684 core:ShareCapital 2018-09-30 02092684 core:ShareCapital 2017-09-30 02092684 core:CapitalRedemptionReserve 2018-09-30 02092684 core:CapitalRedemptionReserve 2017-09-30 02092684 core:RetainedEarningsAccumulatedLosses 2018-09-30 02092684 core:RetainedEarningsAccumulatedLosses 2017-09-30 02092684 core:LandBuildings core:OwnedOrFreeholdAssets 2017-09-30 02092684 core:PlantMachinery 2017-09-30 02092684 core:FurnitureFittingsToolsEquipment 2017-09-30 02092684 core:MotorVehicles 2017-09-30 02092684 bus:Director1 2017-09-30 02092684 bus:Director1 2018-09-30 02092684 bus:Director1 2016-09-30 02092684 bus:Director1 2017-09-30 02092684 bus:Director1 2016-10-01 2017-09-30 02092684 bus:SmallEntities 2017-10-01 2018-09-30 02092684 bus:AuditExemptWithAccountantsReport 2017-10-01 2018-09-30 02092684 bus:FullAccounts 2017-10-01 2018-09-30 02092684 bus:SmallCompaniesRegimeForAccounts 2017-10-01 2018-09-30 02092684 bus:PrivateLimitedCompanyLtd 2017-10-01 2018-09-30 02092684 core:AllAssociates 2017-10-01 2018-09-30 02092684 core:AllAssociates 2016-10-01 2017-09-30 02092684 core:ComputerEquipment 2017-10-01 2018-09-30 02092684 core:ComputerEquipment 2018-09-30 02092684 core:ComputerEquipment 2017-09-30 02092684 core:AllAssociates 2018-09-30 02092684 core:AllAssociates 2017-09-30 02092684 core:OtherRelatedParties 2017-10-01 2018-09-30 02092684 1 2017-10-01 2018-09-30
Company registration number: 02092684
Hantall Developments Limited
Unaudited filleted financial statements
30 September 2018
Hantall Developments Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Hantall Developments Limited
Directors and other information
Directors Mr S T Gregory
Mr P Smith
Mrs L Williams
Secretary Mr S T Gregory
Company number 02092684
Registered office Kingston House
Kingston Mills
Hyde
SK14 2BZ
Business address Kingston House
Kingston Mills
Hyde
SK14 2BZ
Accountants Downham Morris & Co
45/49 Greek Street
Stockport
Cheshire
SK3 8AX
Bankers Royal Bank of Scotland plc
Wilmslow Central Branch
27 Water Lane
Wilmslow
SK9 5AB
Hantall Developments Limited
Chartered certified accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Hantall Developments Limited
Year ended 30 September 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hantall Developments Limited for the year ended 30 September 2018 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Hantall Developments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Hantall Developments Limited and state those matters that we have agreed to state to the board of directors of Hantall Developments Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/ content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hantall Developments Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Hantall Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hantall Developments Limited. You consider that Hantall Developments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hantall Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Downham Morris & Co
Chartered Certified Accountants
45/49 Greek Street
Stockport
Cheshire
SK3 8AX
5 April 2019
Hantall Developments Limited
Statement of financial position
30 September 2018
2018 2017
Note £ £ £ £
Fixed assets
Tangible assets 5 262,777 269,350
_______ _______
262,777 269,350
Current assets
Stocks 255,500 755,500
Debtors 6 1,178,479 952,168
Cash at bank and in hand 1,249,180 1,504,584
_______ _______
2,683,159 3,212,252
Creditors: amounts falling due
within one year 7 ( 951,808) ( 1,906,579)
_______ _______
Net current assets 1,731,351 1,305,673
_______ _______
Total assets less current liabilities 1,994,128 1,575,023
_______ _______
Net assets 1,994,128 1,575,023
_______ _______
Capital and reserves
Called up share capital 50 50
Capital redemption reserve 50 50
Profit and loss account 1,994,028 1,574,923
_______ _______
Shareholders funds 1,994,128 1,575,023
_______ _______
For the year ending 30 September 2018 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with 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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 April 2019 , and are signed on behalf of the board by:
.........................
Mr S T Gregory
Director
Company registration number: 02092684
Hantall Developments Limited
Notes to the financial statements
Year ended 30 September 2018
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Kingston House, Kingston Mills, Hyde, SK14 2BZ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Computer equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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. 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 or 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 8 (2017: 10 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Computer equipment Total
£ £ £ £ £ £
Cost
At 1 October 2017 and 30 September 2018 248,339 15,448 13,198 52,261 14,675 343,921
_______ _______ _______ _______ _______ _______
Depreciation
At 1 October 2017 - 14,992 11,803 35,111 12,665 74,571
Charge for the year - 68 209 4,287 2,009 6,573
_______ _______ _______ _______ _______ _______
At 30 September 2018 - 15,060 12,012 39,398 14,674 81,144
_______ _______ _______ _______ _______ _______
Carrying amount
At 30 September 2018 248,339 388 1,186 12,863 1 262,777
_______ _______ _______ _______ _______ _______
At 30 September 2017 248,339 456 1,395 17,150 2,010 269,350
_______ _______ _______ _______ _______ _______
Tangible assets held at valuation
The directors have valued the freehold property on transition to FRS102 on 1 October 2015 and at 30 September 2018 at its original cost value of £248,339.
6. Debtors
2018 2017
£ £
Trade debtors 262,166 143,337
Other debtors 916,313 808,831
_______ _______
1,178,479 952,168
_______ _______
7. Creditors: amounts falling due within one year
2018 2017
£ £
Bank loans and overdrafts - 375,957
Trade creditors 741,513 1,389,912
Corporation tax 103,809 89,821
Social security and other taxes 82,695 34,559
Other creditors 23,791 16,330
_______ _______
951,808 1,906,579
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2018
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr S T Gregory ( 2,489) 2,014 ( 475)
_______ _______ _______
2017
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr S T Gregory ( 1,990) ( 499) ( 2,489)
_______ _______ _______
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2018 2017 2018 2017
£ £ £ £
Loans to associated companies 112,693 199,128 903,137 790,444
_______ _______ _______ _______
During the year the directors of the company received dividends totalling £20,000 (2017: £30,000).
10. Controlling party
The company considers Mr S Gregory, a director of the company, to be the ultimate controlling party.