Company registration number 11124957 (England and Wales)
Hollins Homes (Newton) Limited
Unaudited financial statements
For the year ended 30 April 2023
Hollins Homes (Newton) Limited
Company information
Directors
Mr S L Goodman
Mr B T Goodman
(Appointed 24 May 2023)
Company number
11124957
Registered office
Suite 4
1 King Street
M2 6AW
Manchester
Accountants
DJH Mitten Clarke Nantwich Limited
17 Alvaston Business Park
Middlewich Road
Nantwich
Cheshire
CW5 6PF
Hollins Homes (Newton) Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Hollins Homes (Newton) Limited
Balance sheet
As at 30 April 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
925,309
351,044
Cash at bank and in hand
364
578,173
925,673
929,217
Creditors: amounts falling due within one year
4
(960,901)
(914,119)
Net current (liabilities)/assets
(35,228)
15,098
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
(35,328)
14,998
Total equity
(35,228)
15,098
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 5 April 2024 and are signed on its behalf by:
Mr S L Goodman
Director
Company registration number 11124957 (England and Wales)
Hollins Homes (Newton) Limited
Notes to the financial statements
For the year ended 30 April 2023
- 2 -
1
Accounting policies
Company information
Hollins Homes (Newton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 4, 1 King Street, M2 6AW, Manchester.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents amounts receivable for the sale of properties on completion.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with 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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Hollins Homes (Newton) Limited
Notes to the financial statements (CONTINUED)
For the year ended 30 April 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Corporation tax recoverable
8,729
513
Other debtors
916,580
350,531
925,309
351,044
Other debtors include £532,915 (2022: £338,586) due from Hollins Homes Limited, who own 50% of the issued share capital of the company and of which B Goodman and S Goodman are directors and £383,665 (2022: £50) from Housing Growth Partnership, who own 50% of the share capital of the company.
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
896,984
164,440
Corporation tax
204
Other taxation and social security
155
Other creditors
8,201
Accruals and deferred income
55,561
749,475
960,901
914,119
Trade creditors due within one year includes £896,984 (2022: £164,440) due to Hollins Homes Limited.
Other creditors due within one year includes £8,201 (2022: £nil) due to Hollins Strategic Land LLP, a limited liability partnership in which the S Goodman and B Goodman have an interest.
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of £1 each
50
50
50
50
B Ordinary shares of £1 each
50
50
50
50
100
100
100
100
Hollins Homes (Newton) Limited
Notes to the financial statements (CONTINUED)
For the year ended 30 April 2023
- 4 -
6
Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Services provided
2023
2022
£
£
Entities with control, joint control or significant influence over the company
45,191
3,056,838