PH (Heys Green) Limited - Accounts to registrar (filleted) - small 23.2.5
PH (Heys Green) Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Financial Statements |
| for the Period 1 July 2021 to 31 December 2022 |
| for |
| PH (Heys Green) Limited |
| PH (Heys Green) Limited (Registered number: 09650169) |
| Contents of the Financial Statements |
| for the period 1 July 2021 to 31 December 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PH (Heys Green) Limited |
| Company Information |
| for the period 1 July 2021 to 31 December 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| & Statutory Auditors |
| St George's Court |
| Winnington Avenue |
| Northwich |
| Cheshire |
| CW8 4EE |
| PH (Heys Green) Limited (Registered number: 09650169) |
| Balance Sheet |
| 31 December 2022 |
| 2022 | 2021 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| 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 |
| PH (Heys Green) Limited (Registered number: 09650169) |
| Notes to the Financial Statements |
| for the period 1 July 2021 to 31 December 2022 |
| 1. | STATUTORY INFORMATION |
| PH (Heys Green) Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Changes in accounting policies |
| Effective from 1 July 2021, the Company changed it's turnover accounting policy to recognise profits on sale of properties upon legal completion. Previously, the sales were recognised when contracts were exchanged and the building work was physically complete. Sales which were exchanged and invoiced at year end were held within accrued income until legal completion. |
| The change in policy has been made because it is management's opinion that this method more accurately reflects when risks and rewards of ownership are transferred. |
| There is no impact on the previous accounting year as a result of the change in policy. |
| 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 |
| upon legal completion of contracts. |
| 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. |
| PH (Heys Green) Limited (Registered number: 09650169) |
| Notes to the Financial Statements - continued |
| for the period 1 July 2021 to 31 December 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| Cash and cash equivalents |
| Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank |
| overdrafts are shown within borrowings in current liabilities. |
| 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. |
| Share capital |
| Ordinary shares are classed as equity. |
| Dividends |
| Dividend distributions to shareholders are recognised as a liability in the period in which the dividends are appropriately authorised and approved for payout and are no longer at the discretion of the company. These amounts are recognised in the statement of changes in equity. Unpaid dividends that do not meet these criteria are disclosed in the notes to the financial statements. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was NIL (2021 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Amounts owed by group undertakings |
| VAT |
| Amounts owed by group undertakings are unsecured, interest free and repayable on demand. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Tax | ( |
) | ( |
) |
| Other creditors |
| Accruals & deferred income |
| ( |
) |
| 6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 7. | 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 (Heys Green) Limited and can be found on the Company Information page. |