PH (Hulme Hall) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 12491440 (England and Wales)

Financial Statements

for the Period 2 March 2020 to 30 June 2021

for

PH (Hulme Hall) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D R Gale

P N Hughes

REGISTERED OFFICE:

Bollin House

Oakfield Road

Cheadle Royal Business Park

Cheadle

Cheshire

SK8 3GX

REGISTERED NUMBER:

12491440 (England and Wales)

AUDITORS:

Bennett Brooks & Co Limited

Chartered Accountants

& Statutory Auditors

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

CURRENT ASSETS

Stocks

7,920,670

Debtors

4

4,841,072

Cash at bank

34,742

12,796,484

CREDITORS

Amounts falling due within one year

5

(11,622,575

)

NET CURRENT ASSETS

1,173,909

TOTAL ASSETS LESS CURRENT LIABILITIES

1,173,909

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

1,173,908

1,173,909

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 Board of Directors and authorised for issue on 2 December 2021 and were signed on its behalf by:

P N Hughes - Director

1.	STATUTORY INFORMATION

PH (Hulme Hall) 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.

Turnover

Turnover represents the amounts receivable from the sale of properties, ground rents and other income directly associated with property development. Properties are treated as sold and profits are recognised when contracts are exchanged and the building work is physically complete.

Property sales are recognised as debtors when invoiced and otherwise held within accrued income.

Work-in-progress

The Company hold work-in-progress which is stated at the lower of cost and net realisable value. To assess the net realisable value of land held for development and housing work-in-progress, the Company assesses the likely revenue which will be generated when these sites are converted into residential properties and sold. Where it is assessed that the revenue generated will exceed costs expended to date and costs to bring the properties in saleable condition, work-in-progress is stated at cost. Where it is assessed that the revenue generated will be lower, work-in-progress is stated at net realisable value.

Work-in-progress includes land and associated acquisition costs, direct materials and subcontract work, other direct costs and those overheads (based on normal operating capacity) that have been incurred in bringing the stocks to their present location and condition.

Taxation

Taxation for the period 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 period 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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Share capital

Ordinary shares are classed as equity.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Borrowing costs

Borrowing costs directly attributable to the acquisition and construction of the Company's development land (considered to be qualifying assets) are included as part of the cost of that asset. Borrowing costs are capitalised from the point expenditure is incurred and cease when substantially all the activities are complete. All other borrowing costs are recognised in the profit and loss in the period in which they are incurred.

Deposits

New property deposits and on account property contract receipts are shown within other creditors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

8,000

VAT

2,056

Prepayments & accrued income

4,831,016

4,841,072

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

6,519,538

Trade creditors

3,096

Amounts owed to group undertakings

3,610,081

Tax

241,622

Other creditors

1,245,238

Accrued expenses

3,000

11,622,575

Amounts owed to group undertakings are unsecured, interest free and repayable on demand.

6.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

6,519,538

Bank loans are secured by Close Brothers Limited by a fixed and floating charge over various assets of the company.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jason Leach FCA (Senior Statutory Auditor)

for and on behalf of Bennett Brooks & Co Limited

8.	ULTIMATE PARENT COMPANY

P H Property Holdings Limited is regarded by directors as being the company's ultimate parent company. The registered office of the ultimate parent company is the same as PH (Hulme Hall) Limited and can be found on the Company Information page.