Hambrook Developments Limited 04371374 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of property development and rental. Digita Accounts Production Advanced 6.30.9574.0 true true 04371374 2022-03-01 2023-02-28 04371374 2023-02-28 04371374 bus:OrdinaryShareClass1 2023-02-28 04371374 core:CurrentFinancialInstruments 2023-02-28 04371374 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04371374 core:OtherRelatedParties 2023-02-28 04371374 core:ParentEntities 2023-02-28 04371374 bus:SmallEntities 2022-03-01 2023-02-28 04371374 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04371374 bus:FullAccounts 2022-03-01 2023-02-28 04371374 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 04371374 bus:RegisteredOffice 2022-03-01 2023-02-28 04371374 bus:CompanySecretary1 2022-03-01 2023-02-28 04371374 bus:HighestPaidDirector 2022-03-01 2023-02-28 04371374 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 04371374 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04371374 core:OtherRelatedParties 2022-03-01 2023-02-28 04371374 core:ParentEntities 2022-03-01 2023-02-28 04371374 1 2022-03-01 2023-02-28 04371374 countries:EnglandWales 2022-03-01 2023-02-28 04371374 2022-02-28 04371374 core:OtherRelatedParties 2022-02-28 04371374 core:ParentEntities 2022-02-28 04371374 2021-03-01 2022-02-28 04371374 2022-02-28 04371374 bus:OrdinaryShareClass1 2022-02-28 04371374 core:CurrentFinancialInstruments 2022-02-28 04371374 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 04371374 core:OtherRelatedParties 2022-02-28 04371374 core:ParentEntities 2022-02-28 04371374 core:OtherRelatedParties 2021-03-01 2022-02-28 04371374 core:ParentEntities 2021-03-01 2022-02-28 04371374 2021-02-28 04371374 core:OtherRelatedParties 2021-02-28 04371374 core:ParentEntities 2021-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04371374

Hambrook Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Hambrook Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Hambrook Developments Limited

Company Information

Director

Mr A R Milton

Company secretary

Mrs N Milton

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Hambrook Developments Limited

(Registration number: 04371374)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

3

130,000

130,000

Current assets

 

Cash at bank and in hand

 

2,713

-

Creditors: Amounts falling due within one year

4

(46,611)

(51,647)

Net current liabilities

 

(43,898)

(51,647)

Net assets

 

86,102

78,353

Capital and reserves

 

Called up share capital

5

4

4

Other reserves

60,000

60,000

Retained earnings

26,098

18,349

Shareholders' funds

 

86,102

78,353

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Hambrook Developments Limited

(Registration number: 04371374)
Balance Sheet as at 28 February 2023

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 director on 8 November 2023
 

.........................................
Mr A R Milton
Director

 

Hambrook Developments Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

1

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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

 

Hambrook Developments Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Hambrook Developments Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

3

Investment properties

2023
£

At 1 March

130,000

At 28 February

130,000

There has been no valuation of investment property by an independent valuer.

4

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

6

-

4,640

Trade creditors

 

60

13

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

13,355

13,355

Taxation and social security

 

524

401

Accruals and deferred income

 

875

888

Other creditors

 

31,797

32,350

 

46,611

51,647

5

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

4

4

4

4

         
 

Hambrook Developments Limited

Notes to the Financial Statements for the Year Ended 28 February 2023

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

4,281

Bank overdrafts

-

359

-

4,640

7

Related party transactions

Loans from related parties

2023

Parent
£

Other related parties
£

Total
£

At start of period

13,355

30,000

43,355

Advanced

-

13

13

At end of period

13,355

30,013

43,368

2022

Parent
£

Other related parties
£

Total
£

At start of period

1,868

15,000

16,868

Advanced

11,487

15,000

26,487

At end of period

13,355

30,000

43,355

8

Parent and ultimate parent undertaking

The company's immediate parent is Cleeve Holdings Limited, incorporated in England and Wales.

 The ultimate controlling party is both Mr A R Milton and Mrs N Milton, by virtue of their shareholding in Cleeve Holdings Limited.