Silverfin false 31/03/2023 01/04/2022 31/03/2023 E Houri 06/11/2018 S Houri 06/11/2018 22 November 2023 The principal activity of the Company during the financial year was that of property investment. 11663065 2023-03-31 11663065 bus:Director1 2023-03-31 11663065 bus:Director2 2023-03-31 11663065 2022-03-31 11663065 core:CurrentFinancialInstruments 2023-03-31 11663065 core:CurrentFinancialInstruments 2022-03-31 11663065 core:Non-currentFinancialInstruments 2023-03-31 11663065 core:Non-currentFinancialInstruments 2022-03-31 11663065 core:ShareCapital 2023-03-31 11663065 core:ShareCapital 2022-03-31 11663065 core:RetainedEarningsAccumulatedLosses 2023-03-31 11663065 core:RetainedEarningsAccumulatedLosses 2022-03-31 11663065 core:InvestmentPropertyIncludedWithinPPE 2022-03-31 11663065 core:InvestmentPropertyIncludedWithinPPE 2023-03-31 11663065 bus:OrdinaryShareClass1 2023-03-31 11663065 2022-04-01 2023-03-31 11663065 bus:FullAccounts 2022-04-01 2023-03-31 11663065 bus:SmallEntities 2022-04-01 2023-03-31 11663065 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11663065 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11663065 bus:Director1 2022-04-01 2023-03-31 11663065 bus:Director2 2022-04-01 2023-03-31 11663065 2021-04-01 2022-03-31 11663065 core:InvestmentPropertyIncludedWithinPPE 2022-04-01 2023-03-31 11663065 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 11663065 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 11663065 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11663065 (England and Wales)

H&D DEVELOPMENTS (2018) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

H&D DEVELOPMENTS (2018) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

H&D DEVELOPMENTS (2018) LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
H&D DEVELOPMENTS (2018) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 2,938,113 2,371,976
2,938,113 2,371,976
Current assets
Debtors 4 41,281 895
Cash at bank and in hand 25,724 42,046
67,005 42,941
Creditors: amounts falling due within one year 5 ( 1,701,772) ( 2,739,408)
Net current liabilities (1,634,767) (2,696,467)
Total assets less current liabilities 1,303,346 (324,491)
Creditors: amounts falling due after more than one year 6 ( 2,025,000) ( 276,610)
Net liabilities ( 721,654) ( 601,101)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 721,754 ) ( 601,201 )
Total shareholders' deficit ( 721,654) ( 601,101)

For the financial 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 financial statements of H&D Developments (2018) Limited (registered number: 11663065) were approved and authorised for issue by the Director. They were signed on its behalf by:

S Houri
Director

22 November 2023

H&D DEVELOPMENTS (2018) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
H&D DEVELOPMENTS (2018) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

H&D Developments (2018) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 120 High Road, Bushey, Hertfordshire, United Kingdom, WD23 1GE.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future, being a period of at least twelve months from the date of approval of these financial statements, and will be able to meet its debts as they fall due.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties and investments in non-puttable ordinary shares.

(i) Financial assets

Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Investment property Total
£ £
Cost
At 01 April 2022 2,371,976 2,371,976
Additions 566,137 566,137
At 31 March 2023 2,938,113 2,938,113
Accumulated depreciation
At 01 April 2022 0 0
At 31 March 2023 0 0
Net book value
At 31 March 2023 2,938,113 2,938,113
At 31 March 2022 2,371,976 2,371,976

4. Debtors

2023 2022
£ £
Prepayments 41,281 895

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 5,339 644
Amounts owed to directors 0 118,582
Accruals 27,447 3,585
Other creditors 1,668,986 2,616,597
1,701,772 2,739,408

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 2,025,000 276,610

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100