Hockley Developments (Hall Street) Limited - Period Ending 2023-09-30
Hockley Developments (Hall Street) Limited - Period Ending 2023-09-30
Registration number:
Hockley Developments (Hall Street) Limited
for the Year Ended 30 September 2023
Hockley Developments (Hall Street) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Hockley Developments (Hall Street) Limited
Company Information
Director |
Mr Alan Forsyth |
Registered office |
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Accountants |
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Hockley Developments (Hall Street) Limited
(Registration number: 13723809)
Balance Sheet as at 30 September 2023
Note |
2023 |
2022 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
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Net assets/(liabilities) |
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Capital and reserves |
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Retained earnings |
42 |
(2,881) |
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Shareholders' funds/(deficit) |
42 |
(2,881) |
For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Hockley Developments (Hall Street) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Hockley Developments (Hall Street) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Hockley Developments (Hall Street) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Stocks |
2023 |
2022 |
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Work in progress |
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Debtors |
Current |
Note |
2023 |
2022 |
Amounts owed by related parties |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Loans and borrowings |
2023 |
2022 |
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Current loans and borrowings |
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Bank overdrafts |
- |
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Other borrowings |
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Other borrowings
Together Finance Loan is denominated in £ with a nominal interest rate of 12.5%, and the final instalment is due on 30 September 2024. The carrying amount at year end is £826,872 (2022 - £290,500). Devlelopment loan to assist with the development of property on Hall Street. Payable on completion of project. |
Hockley Developments (Hall Street) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023
Related party transactions |
Summary of transactions with parent
Hall Street owed £169,000 to Hockley Developments in Development Finance in 2023. (2022 £116,460.00)