Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31true2022-06-01trueNo description of principal activityfalse00The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06246900 2022-06-01 2023-05-31 06246900 2021-06-01 2022-05-31 06246900 2023-05-31 06246900 2022-05-31 06246900 c:Director1 2022-06-01 2023-05-31 06246900 d:OfficeEquipment 2022-06-01 2023-05-31 06246900 d:OfficeEquipment 2023-05-31 06246900 d:OfficeEquipment 2022-05-31 06246900 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 06246900 d:CurrentFinancialInstruments 2023-05-31 06246900 d:CurrentFinancialInstruments 2022-05-31 06246900 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 06246900 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 06246900 d:ShareCapital 2023-05-31 06246900 d:ShareCapital 2022-05-31 06246900 d:RetainedEarningsAccumulatedLosses 2023-05-31 06246900 d:RetainedEarningsAccumulatedLosses 2022-05-31 06246900 c:FRS102 2022-06-01 2023-05-31 06246900 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 06246900 c:FullAccounts 2022-06-01 2023-05-31 06246900 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 06246900










HMV DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
HMV DEVELOPMENTS LIMITED
REGISTERED NUMBER: 06246900

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
514
685

  
514
685

Current assets
  

Stocks
  
238,581
238,581

  
238,581
238,581

Creditors: amounts falling due within one year
 5 
(128,319)
(112,833)

Net current assets
  
 
 
110,262
 
 
125,748

Total assets less current liabilities
  
110,776
126,433

Provisions for liabilities
  

Deferred tax
  
(98)
(130)

  
 
 
(98)
 
 
(130)

Net assets
  
110,678
126,303


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
110,578
126,203

  
110,678
126,303


Page 1

 
HMV DEVELOPMENTS LIMITED
REGISTERED NUMBER: 06246900
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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: 






................................................
W Harvey
Director

Date: 7 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
HMV DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

HMV Developments Limited (06246900) is a private company limited by shares and incorporated in England and Wales. Its registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

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.

The following principal accounting policies have been applied:

 
2.2

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
HMV DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the Year comprises current and deferred tax. 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 reporting date in the countries where the Company operates and generates income.

 
2.4

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:

Office equipment
-
25% 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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
HMV DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the Year was 0 (2022 - 0).

Page 5

 
HMV DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2022
4,311



At 31 May 2023

4,311



Depreciation


At 1 June 2022
3,626


Charge for the Year on owned assets
171



At 31 May 2023

3,797



Net book value



At 31 May 2023
514



At 31 May 2022
685

Page 6

 
HMV DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
1,763
1,804

Other creditors
125,156
109,629

Accruals and deferred income
1,400
1,400

128,319
112,833


 
Page 7