Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2021-01-01falsetrueNo description of principal activity11 09451538 2021-01-01 2021-12-31 09451538 2020-01-01 2020-12-31 09451538 2021-12-31 09451538 2020-12-31 09451538 c:Director1 2021-01-01 2021-12-31 09451538 d:CurrentFinancialInstruments 2021-12-31 09451538 d:CurrentFinancialInstruments 2020-12-31 09451538 d:Non-currentFinancialInstruments 2021-12-31 09451538 d:Non-currentFinancialInstruments 2020-12-31 09451538 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 09451538 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 09451538 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 09451538 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 09451538 d:ShareCapital 2021-12-31 09451538 d:ShareCapital 2020-12-31 09451538 d:OtherMiscellaneousReserve 2021-01-01 2021-12-31 09451538 d:OtherMiscellaneousReserve 2021-12-31 09451538 d:OtherMiscellaneousReserve 2020-12-31 09451538 d:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 09451538 d:RetainedEarningsAccumulatedLosses 2021-12-31 09451538 d:RetainedEarningsAccumulatedLosses 2020-12-31 09451538 c:OrdinaryShareClass1 2021-01-01 2021-12-31 09451538 c:OrdinaryShareClass1 2021-12-31 09451538 c:OrdinaryShareClass1 2020-12-31 09451538 c:FRS102 2021-01-01 2021-12-31 09451538 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 09451538 c:FullAccounts 2021-01-01 2021-12-31 09451538 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 09451538 2 2021-01-01 2021-12-31 09451538 6 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09451538













HDF DEVELOPMENT LIMITED
UNAUDITED
 FINANCIAL STATEMENTS

FOR THE YEAR ENDED  31 DECEMBER 2021

 
HDF DEVELOPMENT LIMITED
 

CONTENTS



Page
Statement of financial position
 
1 - 2
Notes to the financial statements
 
3 - 6


 
HDF DEVELOPMENT LIMITED
REGISTERED NUMBER:09451538

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Investments
 4 
2,395,966
2,395,400

Current assets
  

Bank current accounts
  
38,082
217,177

Current liabilities
  

Creditors: amounts falling due within one year
 5 
(4,575,958)
(3,128,263)

Net current liabilities
  
 
 
(4,537,876)
 
 
(2,911,086)

Total assets less current liabilities
  
(2,141,910)
(515,686)

Creditors: amounts falling due after more than one year
 6 
-
(128,212)

  

Net liabilities
  
(2,141,910)
(643,898)


Capital and reserves
  

Called up share capital 
 7 
3,068,240
100

Other reserves
 8 
(2,189,876)
(2,189,876)

Profit and loss account
 8 
(3,020,274)
1,545,878

  
(2,141,910)
(643,898)


Page 1

 
HDF DEVELOPMENT LIMITED
REGISTERED NUMBER:09451538
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2021

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 her 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 comprehensive income 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 on 5 August 2022.




C Halna Du Fretay
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
HDF DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

HDF Development Limited is a limited liability company incorporated in England and Wales. Its registered office address is at 2nd floor Connnaught House, 1-3 Mount Stree, London, W1K 3NB and its principal place of business is at Flat C, 133 Eaton Square, London, SW1W 9DH.
The principal activity of the Company during the year was that of an intermediate holding company.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The Company made a loss for the year and at the balance sheet date has net current liabilities and net liabilities. The directors have obtained assurance from the shareholders that funds will be made available to the company so that it will be able to carry on trading and meet its financial obligations as and when they fall due for at least twelve months from the date the accounts are approved. The accounts have been prepared under going concern on this basis. 

 
2.4

Basic financial instruments

The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash and cash equivalents, and loans with related parties.
Trade debtors, other debtors and loans to related parties are recognised initially at the transaction price less attributable transaction costs. Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties.
Interest bearing borrowings, such as bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a maket rate of interest. Thereafter they are stated at amortised cost using the effective interest method.
Cash and cash equivalents comprise cash balances, call deposits and bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
HDF DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.6

Foreign currency translation

The company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Interest income

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

 
2.9

Taxation

Tax is recognised in the Statement of Comprehensive Income, 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 reporting date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

Page 4

 
HDF DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Fixed asset investments





Investments in subsidiary entities

£



Cost


At 1 January 2021
4,585,276


Additions
566



At 31 December 2021

4,585,842



Impairment


At 1 January 2021
2,189,876



At 31 December 2021

2,189,876



Net book value



At 31 December 2021
2,395,966



At 31 December 2020
2,395,400


5.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
2,185,645
2,328,103

Amounts owed to group undertakings
2,364,473
773,104

Accruals and deferred income
25,840
27,056

4,575,958
3,128,263


The bank loans are secured by a fixed and floating charge over the assets of the company.


6.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Amounts owed to group undertakings
-
128,212


Page 5

 
HDF DEVELOPMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

7.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



3,068,240 (2020 - 100) Ordinary shares of £1 each
3,068,240
100


On 31 December 2021, 3,068,240 Ordinary shares were issued at a nominal value of £1 per share. 


8.


Reserves

Other reserves

Other reserves relates to impairment movements in investments.

Profit and loss account

The profit and loss reserve contains the cumulative balance of retained profit and losses since the company started trading. It is a distributable reserve.


9.


Parent undertaking

The company's immediate and ultimate parent undertaking is HDF Group. 

 
Page 6