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Company No: 14123442 (England and Wales)

HAYNES DEVELOPMENTS HOLDINGS LTD

Unaudited Financial Statements
For the financial period from 23 May 2022 to 31 October 2023
Pages for filing with the registrar

HAYNES DEVELOPMENTS HOLDINGS LTD

Unaudited Financial Statements

For the financial period from 23 May 2022 to 31 October 2023

Contents

HAYNES DEVELOPMENTS HOLDINGS LTD

BALANCE SHEET

As at 31 October 2023
HAYNES DEVELOPMENTS HOLDINGS LTD

BALANCE SHEET (continued)

As at 31 October 2023
Note 31.10.2023
£
Fixed assets
Investments 3 7,821,030
7,821,030
Current assets
Cash at bank and in hand 82
82
Creditors: amounts falling due within one year 4 ( 3,194)
Net current liabilities (3,112)
Total assets less current liabilities 7,817,918
Provision for liabilities 5 ( 98,393)
Net assets 7,719,525
Capital and reserves
Called-up share capital 6 7,427,460
Fair value reserve 6 295,177
Profit and loss account ( 3,112 )
Total shareholders' funds 7,719,525

For the financial period ending 31 October 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 Haynes Developments Holdings Ltd (registered number: 14123442) were approved and authorised for issue by the Director on 19 February 2024. They were signed on its behalf by:

C M D Haynes
Director
J H C Haynes
Director
HAYNES DEVELOPMENTS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 May 2022 to 31 October 2023
HAYNES DEVELOPMENTS HOLDINGS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 May 2022 to 31 October 2023
1. Accounting policies

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

General information and basis of accounting

Haynes Developments Holdings Ltd (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 Hendford Manor, Hendford, Yeovil, BA20 1UN, United Kingdom. The principal place of business is Haynes Developments Holdings Ltd, Sparkford, Yeovil, BA22 7LH.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
23.05.2022 to
31.10.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Fixed asset investments

Investments in subsidiaries

31.10.2023
£
Cost
At 23 May 2022 0
Additions 7,427,460
Fair value revaluation of subsidiary 393,570
At 31 October 2023 7,821,030
Carrying value at 31 October 2023 7,821,030

At the balance sheet date the company had 1 wholly owned subsidiary, acquired within the period.

4. Creditors: amounts falling due within one year

31.10.2023
£
Amounts owed to own subsidiaries 794
Accruals 2,400
3,194

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

5. Provision for liabilities

31.10.2023
£
Deferred tax 98,393

6. Changes in equity

Called-up share capital Fair value reserve
£ £
At 23 May 2022 0 0
Transfer of fair value revaluation of investment in subsidiary 0 393,570
Transfer of deferred tax on fair value adjustment 0 ( 98,393)
Total comprehensive income 0 295,177
Issue of share capital 7,427,460 0
At 31 October 2023 7,427,460 295,177

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

The company has taken advantage of the exemptions provided from disclosing transactions with its wholly owned subsidiary.