2 false false false false false false false false false false true false false false false false false 2022-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 20,228 107,437 1,312,500 1,312,500 1,312,500 xbrli:pure xbrli:shares iso4217:GBP 04206419 2022-04-01 2023-03-31 04206419 2023-03-31 04206419 2022-03-31 04206419 2021-04-01 2022-03-31 04206419 2022-03-31 04206419 2021-03-31 04206419 core:LandBuildings 2022-04-01 2023-03-31 04206419 core:PlantMachinery 2022-04-01 2023-03-31 04206419 bus:RegisteredOffice 2022-04-01 2023-03-31 04206419 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 04206419 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 04206419 bus:Director1 2022-04-01 2023-03-31 04206419 bus:Director2 2022-04-01 2023-03-31 04206419 bus:CompanySecretary1 2022-04-01 2023-03-31 04206419 core:WithinOneYear 2023-03-31 04206419 core:WithinOneYear 2022-03-31 04206419 core:AfterOneYear 2023-03-31 04206419 core:AfterOneYear 2022-03-31 04206419 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04206419 core:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 04206419 core:RetainedEarningsAccumulatedLosses 2022-03-31 04206419 core:RetainedEarningsAccumulatedLosses 2021-03-31 04206419 core:RetainedEarningsAccumulatedLosses 2023-03-31 04206419 core:RetainedEarningsAccumulatedLosses 2022-03-31 04206419 core:ShareCapital 2023-03-31 04206419 core:ShareCapital 2022-03-31 04206419 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 04206419 core:Non-currentFinancialInstruments 2023-03-31 04206419 core:Non-currentFinancialInstruments 2022-03-31 04206419 bus:SmallEntities 2022-04-01 2023-03-31 04206419 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04206419 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04206419 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04206419 bus:AbridgedAccounts 2022-04-01 2023-03-31 04206419 bus:OrdinaryShareClass1 2023-03-31 04206419 bus:OrdinaryShareClass1 2022-03-31
COMPANY REGISTRATION NUMBER: 04206419
Holymoor Developments Limited
Unaudited Abridged Financial Statements
31 March 2023
Holymoor Developments Limited
Abridged Financial Statements
Year Ended 31 March 2023
Contents
Page
Officers and professional advisers
1
Directors' report
2
Chartered accountants report to the board of directors on the preparation of the unaudited statutory abridged financial statements
3
Abridged statement of income and retained earnings
4
Abridged statement of financial position
5
Notes to the abridged financial statements
7
Holymoor Developments Limited
Officers and Professional Advisers
The board of directors
Mrs M I Coates
Mr S P Coates
Company secretary
Mr S P Coates
Registered office
Little Beck , Pocknedge Lane
Holymoorside
Chesterfield
Derbyshire
S42 7HL
Accountants
MCABA Limited t/a Mitchells
Chartered Accountants
91-97 Saltergate
Chesterfield
Derbyshire
S40 1LA
Holymoor Developments Limited
Directors' Report
Year Ended 31 March 2023
The directors present their report and the unaudited abridged financial statements of the company for the year ended 31 March 2023 .
Directors
The directors who served the company during the year were as follows:
Mrs M I Coates
Mr S P Coates
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 31 October 2023 and signed on behalf of the board by:
Mr S P Coates
Director
Registered office:
Little Beck , Pocknedge Lane
Holymoorside
Chesterfield
Derbyshire
S42 7HL
Holymoor Developments Limited
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Holymoor Developments Limited
Year Ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Holymoor Developments Limited for the year ended 31 March 2023, which comprise the abridged statement of income and retained earnings, abridged statement of financial position 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Holymoor Developments Limited, as a body, in accordance with the terms of our engagement letter dated 14 June 2021. Our work has been undertaken solely to prepare for your approval the abridged financial statements of Holymoor Developments Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Holymoor Developments Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Holymoor Developments Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Holymoor Developments Limited. You consider that Holymoor Developments Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the abridged financial statements of Holymoor Developments Limited. 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 abridged financial statements.
MCABA Limited t/a Mitchells Chartered Accountants
91-97 Saltergate Chesterfield Derbyshire S40 1LA
31 October 2023
Holymoor Developments Limited
Abridged Statement of Income and Retained Earnings
Year Ended 31 March 2023
2023
2022
Note
£
£
Gross Profit
85,301
86,955
Administrative expenses
25,594
( 50,321)
--------
---------
Operating Profit
59,707
137,276
Interest payable and similar expenses
34,735
22,833
--------
---------
Profit Before Taxation
24,972
114,443
Tax on profit
4,744
7,006
--------
---------
Profit for the Financial Year and Total Comprehensive Income
20,228
107,437
--------
---------
Dividends paid and payable
( 3,000)
( 3,000)
Retained Earnings at the Start of the Year
550,363
445,926
---------
---------
Retained Earnings at the End of the Year
567,591
550,363
---------
---------
All the activities of the company are from continuing operations.
Holymoor Developments Limited
Abridged Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
Fixed Assets
Tangible assets
5
913
1,074
Investments
6
1,312,500
1,312,500
------------
------------
1,313,413
1,313,574
Current Assets
Debtors
4,195
3,086
Cash at bank and in hand
5,637
37,725
-------
--------
9,832
40,811
Creditors: amounts falling due within one year
172,062
62,942
---------
--------
Net Current Liabilities
162,230
22,131
------------
------------
Total Assets Less Current Liabilities
1,151,183
1,291,443
Creditors: amounts falling due after more than one year
7
583,417
740,874
Provisions
Taxation including deferred tax
172
203
------------
------------
Net Assets
567,594
550,366
------------
------------
Capital and Reserves
Called up share capital
8
3
3
Profit and loss account
9
567,591
550,363
---------
---------
Shareholders Funds
567,594
550,366
---------
---------
These abridged financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 March 2023 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Holymoor Developments Limited
Abridged Statement of Financial Position (continued)
31 March 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 31 October 2023 , and are signed on behalf of the board by:
Mr S P Coates
Director
Company registration number: 04206419
Holymoor Developments Limited
Notes to the Abridged Financial Statements
Year Ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Little Beck, Pocknedge Lane, Holymoorside, Chesterfield, Derbyshire, S42 7HL.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Rental income represents the rents due for the year under operating leases all of which relate to properties in the United Kingdom.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Improvements
-
15% reducing balance
Plant & Machinery
-
20% straight line
Investment property
Investment property is carried at fair value determined annually. No deprecation is provided. Changes in fair value are recognised in the profit and loss for the period.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Government grants
Government grants are recognised at the fair value of the grant received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
£
Cost
At 1 April 2022 and 31 March 2023
11,961
--------
Depreciation
At 1 April 2022
10,887
Charge for the year
161
--------
At 31 March 2023
11,048
--------
Carrying amount
At 31 March 2023
913
--------
At 31 March 2022
1,074
--------
6. Investments
Investment properties
£
Cost
At 1 April 2022 and 31 March 2023
1,312,500
------------
Impairment
At 1 April 2022 and 31 March 2023
------------
Carrying amount
At 31 March 2023
1,312,500
------------
At 31 March 2022
1,312,500
------------
The fair value of the properties were made in the year by the directors, who have experience in the location and class of properties, on an open market value for existing use basis. No further input from an independent valuer was deemed to be required.
7. Creditors: amounts falling due after more than one year
The bank loan is secured by a debenture over the company's assets including a legal charge over its properties.
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
3
3
3
3
----
----
----
----
9. Reserves
Profit and loss account Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in the revaluation reserve, which is an unrealised surplus that does not form part of the company's distributable reserve. FRS 102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account. Consequently, the Profit and Loss Account reserve at 31 March 2023 includes a non-distributable amount of £208,756 (2022 - £208,756).