HOLLINS_HOMES_(ASTON)_LIM - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Hollins Homes (Aston) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 4, 1 King Street, Manchester, M2 6AW.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

This is the company's first financial reporting period and it has selected an accounting reference date of 30 April. These financial statements are for the period from its incorporation on 31 May 2018 to its first period end date of 30 April 2019.

Land and property acquired in the course of development is recorded at cost.

Work in progress is valued at cost of labour, materials and other associated direct overheads of the development.

Costs are released from stock and work in progress upon legal completion of sale.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

The company has no employees other than its directors.

The bank loan is secured via a fixed and floating charge over the assets of the company.

Other loans due after one year include £1,049,960 to Housing Growth Partnership LP, who own 40% of the issued share capital of the company. Creditors due after one year are repayable within five years.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

During the year Hollins Homes Limited, which holds 60% interest in the company, and in which Mr M Chadwick and Mr SL Goodman have an material interest, provided services to Hollins Homes (Aston) Limited to the value of £122,775. These costs are included in direct costs.

Details of amounts due from and due to related parties are included in notes 4 and 5.