Hunt Developments (NAH) Limited - Filleted accounts

HUNT DEVELOPMENTS (NAH) LTD - Company Information

Registered number

03513312

Hunt Developments (NAH) Limited

Unaudited Filleted Accounts

30 April 2021

Hunt Developments (NAH) Limited
Registered number:		03513312
Balance Sheet
as at 30 April 2021

Notes			2021			2020
£				£
Fixed assets
Investment properties	3		1,047,319			940,050

Current assets
Debtors	4	110,827			105,999
Cash at bank and in hand		170,334			110,923
		281,161			216,922

Creditors: amounts falling due within one year	5	(36,870)			(33,333)

Net current assets			244,291			183,589

Total assets less current liabilities			1,291,610			1,123,639


Provisions for liabilities - deferred tax			(93,319)			(72,938)


Net assets			1,198,291			1,050,701

Capital and reserves
Called up share capital			3			3
Profit and loss account			1,198,288			1,050,698

Shareholder's funds			1,198,291			1,050,701

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




N A Hunt
Director
Approved by the board on 20 January 2022

Hunt Developments (NAH) Limited
Notes to the Accounts
for the year ended 30 April 2021

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention, as modified for the revaluation of investment property and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover represents rents, management charges and recharged property costs receivable.

	Tangible fixed assets
	Investment property is included at fair value. Gains are recognised in profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

2	Employees	2021		2020
Number			Number

	Average number of persons employed by the company	2		2

3	Investment properties
				Land and buildings
£
	Fair value
	At 1 May 2020			940,050
	Surplus on revaluation			107,269
	At 30 April 2021			1,047,319

	Depreciation
	At 30 April 2021			-

	Net book value
	At 30 April 2021			1,047,319
	At 30 April 2020			940,050

	The basis of valuation is market value which is equivalent to fair value.

4	Debtors	2021		2020
£			£

	Trade debtors	11,344		11,206
	Amounts owed by group undertakings and undertakings in which the company has a participating interest	99,483		94,793
		110,827		105,999



5	Creditors: amounts falling due within one year	2021		2020
£			£

	Loans from directors and associates	994		1,018
	Trade creditors	6,990		6,274
	Amounts owed to group undertakings and undertakings in which the company has a participating interest	3,998		280
	Taxation and social security costs	14,239		14,545
	Other creditors	10,649		11,216
		36,870		33,333


6	Provision for liabilities	2021		2020
	Deferred taxation	£	£

	At 1 May 2020 and 30 April 2021	(93,319)		(72,938)

	The provision for deferred taxation represents the corporation tax which would be payable should the Company sell its freehold property for the value shown in these accounts. The rate of tax used when calculating the provision is 19%.

	As legislated by the 2021 Finance Act, the rate of corporation tax will increase in 2023 to a maximum of 25%, which would increase the tax payable by an additional £29,469 to £122,788.

7	Controlling party
	The company is a wholly owned subsidiary of Hunt NAH Limited. The registered address and place of business is: 17 Parkside Business Centre Plumpton Road Hoddesdon Hertfordshire EN11 0ES

	The registered address and place of business of the parent company is the same as the company (Note 7).

	The ultimate holding company is Hunt Developments Holdings Limited

8	Other information

	Hunt Developments (NAH) Limited is a private company limited by shares and incorporated in England. Its registered office is:
	17 Parkside Business Centre
	Plumpton Road
	Hoddesdon
	EN11 0ES

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