HC1231 Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09125473 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2022

FOR

HC1231 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D L Shepheard

REGISTERED OFFICE:

201 St Bernards Road

Solihull

B92 7DL

REGISTERED NUMBER:

09125473 (England and Wales)

ACCOUNTANTS:

Prime

Chartered Accountants

5 Argosy Court

Scimitar Way

Whitley Business Park

Coventry

CV3 4GA

FIXED ASSETS

Investments

4

5,140,219

5,192,417

CURRENT ASSETS

Stocks

1,421,652

1,408,690

Debtors

5

3,243

396,781

Cash at bank

1,249,680

752,447

2,674,575

2,557,918

CREDITORS

Amounts falling due within one year

6

2,379,694

2,487,441

NET CURRENT ASSETS

294,881

70,477

TOTAL ASSETS LESS CURRENT LIABILITIES

5,435,100

5,262,894

PROVISIONS FOR LIABILITIES

85,526

62,760

NET ASSETS

5,349,574

5,200,134

CAPITAL AND RESERVES

Called up share capital

3,000,004

3,000,004

Fair value reserve

7

450,137

330,317

Retained earnings

1,899,433

1,869,813

5,349,574

5,200,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2022 and were signed by:

D L Shepheard - Director

1.	STATUTORY INFORMATION

HC1231 Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 6 April 2021

5,192,417

Additions

40,935

Disposals

(215,860

)

Revaluations

122,727

At 5 April 2022

5,140,219

NET BOOK VALUE

At 5 April 2022

5,140,219

At 5 April 2021

5,192,417

Cost or valuation at 5 April 2022 is represented by:

Other

investments

£

Valuation in 2022

450,137

Valuation in 2021

4,690,082

5,140,219

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Associated company

John David Homes Limited

Registered office: Prosperity House, Hanborough Business Park, Long Hanborough, Witney, Oxfordshire, United Kingdom, OX29 8LH

Nature of business: Property development

%

Class of shares:

holding

Ordinary

25.00

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

3,243

396,781

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

1,694,397

1,444,945

Taxation and social security

-

75,429

Other creditors

685,297

967,067

2,379,694

2,487,441

7.

RESERVES

Fair

value

reserve

£

At 6 April 2021

330,317

Transfer to fair value

119,820

At 5 April 2022

450,137

8.	CAPITAL COMMITMENTS

At 5 April 2022 the Company had capital commitments in respect of its investments as follows:

2022

2021

$

$

Investments committed but not called up

267,375

321,125

9.	RELATED PARTY DISCLOSURES

During the year, D Shepheard and his wife maintained an unsecured loan to the company. This loan is interest free and repayable on demand. At the end of the year, the balance of this loan owing by the company was £682,692 (2021: £962,767).