Caseware UK (AP4) 2022.0.179 2022.0.179 2023-04-302023-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetrue2022-04-202The company was incorporated on 20 April 2022. The principal activity is that of development of building projects.false 14058580 2022-04-19 14058580 2022-04-20 2023-04-30 14058580 2021-04-20 2022-04-19 14058580 2023-04-30 14058580 c:Director1 2022-04-20 2023-04-30 14058580 c:Director2 2022-04-20 2023-04-30 14058580 c:RegisteredOffice 2022-04-20 2023-04-30 14058580 d:CurrentFinancialInstruments 2023-04-30 14058580 d:Non-currentFinancialInstruments 2023-04-30 14058580 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 14058580 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 14058580 d:ShareCapital 2023-04-30 14058580 d:RetainedEarningsAccumulatedLosses 2023-04-30 14058580 c:OrdinaryShareClass1 2022-04-20 2023-04-30 14058580 c:OrdinaryShareClass1 2023-04-30 14058580 c:OrdinaryShareClass2 2022-04-20 2023-04-30 14058580 c:OrdinaryShareClass2 2023-04-30 14058580 c:OrdinaryShareClass3 2022-04-20 2023-04-30 14058580 c:OrdinaryShareClass3 2023-04-30 14058580 c:FRS102 2022-04-20 2023-04-30 14058580 c:AuditExempt-NoAccountantsReport 2022-04-20 2023-04-30 14058580 c:FullAccounts 2022-04-20 2023-04-30 14058580 c:PrivateLimitedCompanyLtd 2022-04-20 2023-04-30 14058580 2 2022-04-20 2023-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14058580










HALES DEVELOPMENT LAND LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2023

 
HALES DEVELOPMENT LAND LIMITED
 
 
COMPANY INFORMATION


Directors
I S Fox 
J S Wells 




Registered number
14058580



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
HALES DEVELOPMENT LAND LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 6


 
HALES DEVELOPMENT LAND LIMITED
REGISTERED NUMBER: 14058580

BALANCE SHEET
AS AT 30 APRIL 2023

2023
Note
£

  

Current assets
  

Stocks
 4 
2,407,577

Debtors: amounts falling due within one year
 5 
81,197

Cash at bank and in hand
  
102,649

  
2,591,423

Creditors: amounts falling due within one year
 6 
(1,237,119)

Net current assets
  
 
 
1,354,304

Total assets less current liabilities
  
1,354,304

Creditors: amounts falling due after more than one year
  
(1,355,853)

  

Net (liabilities)/assets
  
(1,549)


Capital and reserves
  

Called up share capital 
 8 
200

Profit and loss account
  
(1,749)

  
(1,549)


Page 1

 
HALES DEVELOPMENT LAND LIMITED
REGISTERED NUMBER: 14058580
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The directors consider 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 period in question in accordance with section 476 of the Companies Act 2006.

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 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 profit and loss account 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 on 19 January 2024.




I S Fox
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
HALES DEVELOPMENT LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

Hales Development Land Limited is a private company limited by shares and incorporated in Engand and Wales, registration number 14058580. The Company was incorporated on 20 April 2022. The registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ.
The principal activity of the Company is that of property development, and it undertakes its activities in Norwich, Norfolk.

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

Going concern

The financial statements have been prepared on the going concern basis, as the directors consider that the Company, with their ongoing support, has sufficient working capital to continue trading for a period of at least twleve months from the date of the approval of the financial statements.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.5

Stocks

Stocks comprise of property in development and is stated at the lower of cost and net realisable value. Costs include all direct costs including borrowing costs. Net realisable value represents the estimated selling price less and further costs expected to be incurred to completion and disposal.
At each balance sheet date stocks are assessed for impairment. If stock is impaired, the carrying cost amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the profit and loss account.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
HALES DEVELOPMENT LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

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.

 
2.9

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.
Debt instruments that are payable or repayable within one year, typically trade debtors and creditors, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.


4.


Stocks

2023
£

Work in progress
2,407,577

2,407,577



5.


Debtors

2023
£


Other debtors
80,997

Unpaid share capital
200

81,197


Page 4

 
HALES DEVELOPMENT LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

6.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
1,002,903

Other creditors
150,000

Accruals and deferred income
84,216

1,237,119



7.


Creditors: Amounts falling due after more than one year

2023
£

Bank loans
455,853

Other creditors
900,000

1,355,853


The bank loan is secured by fixed ands floating charges over the land owned by the company within work in progress.
Other creditors also have fixed charges against the land owned by the company, shown within work in progress.

Page 5

 
HALES DEVELOPMENT LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

8.


Share capital

2023
£
Allotted, called up and partly paid


95 Ordinary A shares of £1.00 each
95
95 Ordinary B shares of £1.00 each
95
10 Ordinary C shares of £1.00 each
10

200

At incorporation 95 Ordinary £1 A Shares were allotted and issued, along with 95 Ordinary £1 B shares, and 10 Ordinary £1 C shares, all at a value of £1 each.



9.


Related party transactions

As at 30 April 2023 there are loans from associates totalling £150,000 included within other creditors, in note 6 to the financial statements.
As at 30 April 2023 there is a loan to an associate of 
£75,000 included within other debtors in note 5 to the financial statements.

 
Page 6