ACCOUNTS - Final Accounts

HADLEY CONSTRUCTION LIMITED - Company Information

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Registered number: 05821633

HADLEY CONSTRUCTION LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2022

HADLEY CONSTRUCTION LIMITED

REGISTERED NUMBER: 05821633

BALANCE SHEET

AS AT 31 MAY 2022

		2022		2021
Note		£		£


Fixed assets
Tangible assets	5		1		1
			1		1
Current assets
Debtors: amounts falling due within one year	6	1,694		3,524
Cash at bank and in hand	7	28,916		43,635
		30,610		47,159
Creditors: amounts falling due within one year	8	(30,610)		(29,053)
Net current assets			-		18,106
Total assets less current liabilities			1		18,107



Net assets excluding pension asset			1		18,107
Net assets			1		18,107

Capital and reserves
Called up share capital	1	1
Profit and loss account	-	18,106
	1	18,107

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HADLEY CONSTRUCTION LIMITED

REGISTERED NUMBER: 05821633

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2022

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

M C BYSH

Director

Date: 24 January 2023

The notes on pages 3 to 7 form part of these financial statements.

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HADLEY CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

1.	General information

Hadley Construction Limited is a private company limited by shares and is incorporated and domiciled in England and Wales, registration number 5821633. The registered office is 52A Haverstock Hill, London NW3 2BH.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

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HADLEY CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

25%

Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate

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HADLEY CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

2.Accounting policies (continued)

2.9

Financial instruments (continued)

for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2021 - 1).

4.	Taxation

		2022	2021
		£	£

Corporation tax
Current tax on profits for the year	(1,694)	1,859
	(1,694)	1,859

Total current tax	(1,694)	1,859

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HADLEY CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

4.Taxation (continued)

Factors affecting tax charge for the year
The tax assessed for the year is the same as (2021 - the same as) the standard rate of corporation tax in the UK of 19% (2021 - 19%) as set out below:
	2022	2021
	£	£

(Loss)/profit on ordinary activities before tax

(8,917)

9,785

(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2021 - 19%)	(1,694)	1,859
Effects of:
Total tax charge for the year	(1,694)	1,859

Factors that may affect future tax charges

There were no factors that may affect future tax charges.

5.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 June 2021	1,419
	At 31 May 2022	1,419
	Depreciation
	At 1 June 2021	1,418
	At 31 May 2022	1,418
	Net book value
	At 31 May 2022	1
	At 31 May 2021	1

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HADLEY CONSTRUCTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2022

Debtors

					2022	2021
					£	£


Trade debtors	-	3,524
Other debtors	1,694	-
	1,694	3,524

7.	Cash and cash equivalents
		2022	2021
		£	£

Cash at bank and in hand	28,916	43,635
	28,916	43,635

8.	Creditors: Amounts falling due within one year
		2022	2021
		£	£

Corporation tax	-	1,860
Other creditors	30,610	27,193
	30,610	29,053

9.	Financial instruments
		2022	2021
		£	£

	Financial assets
	Financial assets measured at fair value through profit or loss	28,916	43,635

Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.

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