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Registration number: SC715141

Hunter Ardent Developments Limited

Unaudited Filleted Financial Statements

for the Period from 16 November 2021 to 31 March 2022

 

Hunter Ardent Developments Limited

(Registration number: SC715141)
Balance Sheet as at 31 March 2022

Note

2022
£

Current assets

 

Stocks

4

84,050

Debtors

5

2,500,100

 

2,584,150

Creditors: Amounts falling due within one year

6

(2,584,050)

Net assets

 

100

Capital and reserves

 

Called up share capital

100

Shareholders' funds

 

100

For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 October 2023 and signed on its behalf by:
 

.........................................
Ryan Walker
Director

 

Hunter Ardent Developments Limited

Notes to the Unaudited Financial Statements for the Period from 16 November 2021 to 31 March 2022

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is: 86A George Street, Edinburgh, Midlothian, EH2 3BU.

These financial statements were authorised for issue by the Board on 6 October 2023.

2

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.

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

 

Hunter Ardent Developments Limited

Notes to the Unaudited Financial Statements for the Period from 16 November 2021 to 31 March 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4.

4

Stocks

2022
£

Work in progress

84,050

5

Debtors

2022
£

Other debtors

2,500,100

6

Creditors

Creditors: amounts falling due within one year

2022
£

Other creditors

2,584,050

7

Related party transactions

Included in other creditors is an amount of £2,500,000 owed to 100% parent company, Magell Limited.