Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-302022-05-01falseNo description of principal activity12truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09556856 2022-05-01 2023-04-30 09556856 2021-05-01 2022-04-30 09556856 2023-04-30 09556856 2022-04-30 09556856 c:Director1 2022-05-01 2023-04-30 09556856 d:MotorVehicles 2022-05-01 2023-04-30 09556856 d:MotorVehicles 2023-04-30 09556856 d:MotorVehicles 2022-04-30 09556856 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 09556856 d:ComputerEquipment 2022-05-01 2023-04-30 09556856 d:ComputerEquipment 2023-04-30 09556856 d:ComputerEquipment 2022-04-30 09556856 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 09556856 d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 09556856 d:CurrentFinancialInstruments 2023-04-30 09556856 d:CurrentFinancialInstruments 2022-04-30 09556856 d:Non-currentFinancialInstruments 2023-04-30 09556856 d:Non-currentFinancialInstruments 2022-04-30 09556856 c:FRS102 2022-05-01 2023-04-30 09556856 c:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 09556856 c:FullAccounts 2022-05-01 2023-04-30 09556856 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 09556856 d:HirePurchaseContracts d:WithinOneYear 2023-04-30 09556856 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-04-30 09556856 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-04-30 09556856 d:HirePurchaseContracts d:WithinOneYear 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 09556856









HVB DEVELOPMENT LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2023

 
HVB DEVELOPMENT LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HVB DEVELOPMENT LTD
FOR THE YEAR ENDED 30 APRIL 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of HvB Development Ltd for the year ended 30 April 2023 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of HvB Development Ltd in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of HvB Development Ltd  and state those matters that we have agreed to state to the director of HvB Development Ltd in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HvB Development Ltd and its director for our work or for this report. 

It is your duty to ensure that HvB Development Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of HvB Development Ltd. You consider that HvB Development Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of HvB Development Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Hillier Hopkins LLP
 
Chartered Accountants
  
45 Pall Mall
St James's
London
SW1Y 5JG
 
27 October 2023
Page 1

 
HVB DEVELOPMENT LTD
REGISTERED NUMBER: 09556856

BALANCE SHEET
AS AT 30 APRIL 2023

2023
2022
Note
£
£

  

Fixed assets
 4 
12,530
17,176

Current assets
 5,6,7 
803,689
1,184,053

Creditors: amounts falling due within one year
 8 
(366,486)
(441,086)

Net current assets
  
 
 
437,203
 
 
742,967

Total assets less current liabilities
  
449,733
760,143

Creditors: amounts falling due after more than one year
 9 
-
(9,003)

  

Net assets
  
449,733
751,140


  

Capital and reserves
  
449,733
751,140


Page 2

 
HVB DEVELOPMENT LTD
REGISTERED NUMBER: 09556856
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

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: 




................................................
C H E Van Bilderbeek
Director

Date: 25 October 2023

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
HVB DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

1.


General information

HvB Development Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Ground Floor, 45 Pall Mall, London, SW1Y 5JG.
The Company's principal activity is that of property development.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

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.

 
2.3

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.

 
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.

Page 4

 
HVB DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Computer equipment
-
33%
reducing balance

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 2).

Page 5

 
HVB DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost or valuation


At 1 May 2022
22,683
8,136
30,819



At 30 April 2023

22,683
8,136
30,819



Depreciation


At 1 May 2022
9,924
3,719
13,643


Charge for the year on owned assets
3,190
1,456
4,646



At 30 April 2023

13,114
5,175
18,289



Net book value



At 30 April 2023
9,569
2,961
12,530



At 30 April 2022
12,759
4,417
17,176


5.


Debtors

2023
2022
£
£


Trade debtors
157,513
3,480

Prepayments and accrued income
1,200
3,790

158,713
7,270



6.


Current asset investments

2023
2022
£
£

Investments
586,559
829,799

586,559
829,799


Page 6

 
HVB DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
58,417
346,985

Less: bank overdrafts
(56)
-

58,361
346,985



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
56
-

Bank loans
-
100,000

Trade creditors
139,420
71,144

Amounts owed to group undertakings
200
-

Corporation tax
42,519
85,916

Other taxation and social security
58,941
68,601

Obligations under finance lease and hire purchase contracts
9,003
3,031

Other creditors
111,957
108,589

Accruals and deferred income
4,390
3,805

366,486
441,086


Page 7

 
HVB DEVELOPMENT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
9,003

-
9,003


The following liabilities were secured:

2023
2022
£
£



Bank loan
-
100,000

-
100,000

Details of security provided:

The Company had taken out a bank loan of £100,000 which was secured against the investment portfolio held by the Company. The bank loan was repaid in June 2022..


10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
9,003
3,031

More than one year
-
9,003

9,003
12,034


11.


Controlling party

The ultimate parent company and controlling party is HVB Capital Ltd, a company registered in England and Wales.
At the balance sheet date, the company owed £200 
(2022: £Nil) to HVB Capital Ltd.

 
Page 8