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Registration number: 13236888

Hammond Homes (Scartho Top) Ltd

Unaudited Filleted Financial Statements

for the Period from 1 September 2022 to 30 September 2023

 

Hammond Homes (Scartho Top) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Hammond Homes (Scartho Top) Ltd

Company Information

Director

Mrs Deborah Louise Hammond

Registered office

Bridgeview Business Park
Henry Boot Way
Priory Park East
Hull
East Yorkshire
HU4 7DY

Solicitors

Wilkin Chapman LLP
Cartergate House
26 Chantry Lane
Grimsby
North Lincolnshire
DN31 2LJ

Bankers

Tide

Accountants

Flexibility Professional Services (UK) Ltd
1 Tall Trees
Jenny Brough Lane
Hessle
East Yorkshire
HU13 0LE

 

Hammond Homes (Scartho Top) Ltd

(Registration number: 13236888)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

-

314,787

Debtors

5

1,858,741

673

 

1,858,741

315,460

Creditors: Amounts falling due within one year

6

(87,940)

(315,900)

Total assets less current liabilities

 

1,770,801

(440)

Creditors: Amounts falling due after more than one year

6

(1,733,336)

-

Net assets/(liabilities)

 

37,465

(440)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

37,365

(540)

Shareholders' funds/(deficit)

 

37,465

(440)

For the financial period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 January 2024
 

.........................................
Mrs Deborah Louise Hammond
Director

 

Hammond Homes (Scartho Top) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Bridgeview Business Park
Henry Boot Way
Priory Park East
Hull
East Yorkshire
HU4 7DY
United Kingdom

These financial statements were authorised for issue by the director on 31 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

 

Hammond Homes (Scartho Top) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

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 taxable income.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Hammond Homes (Scartho Top) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

4

Stocks

2023
£

2022
£

Other inventories

-

314,787

5

Debtors

Current

2023
£

2022
£

Prepayments

-

24

Other debtors

1,858,741

649

 

Hammond Homes (Scartho Top) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

8,764

-

Accruals and deferred income

2,586

1,089

Other creditors

76,590

314,811

87,940

315,900

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,733,336

-

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary £1 of £1 each

100

100

100

100

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

1,433,336

-

Other borrowings

300,000

-

1,733,336

-

 

Hammond Homes (Scartho Top) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

Bank borrowings

Aberdeen Enterprise Finance Ltd is denominated in GBP with a nominal interest rate of 18.0%, and the final instalment is due on 30 June 2024. The carrying amount at period end is £1,433,336 (2022 - £Nil).

First legal charge over the freehold property and build contract. Cross company guarantee provided by Hammond Homes (Barrow) Ltd and Hammond Homes (Sunningdale) Ltd. Personal guarantees provided by the directors.

Other borrowings

Terry Jean Stone is denominated in GBP with a nominal interest rate of 12.0%, and the final instalment is due on 31 August 2024. The carrying amount at period end is £300,000 (2022 - £Nil).

Second legal charge over the freehold property. Personal guarantees provided by the Directors.

9

Related party transactions

Summary of transactions with parent

Hammond Homes Holdings Ltd
 

Summary of transactions with associates

Hammond Homes of Distinction Ltd
 Unsecured loan capital with no repayment terms.
 

Loans to related parties

2023

Parent
£

Total
£

At start of period

100

100

At end of period

100

100

2022

Parent
£

Total
£

Advanced

100

100

At end of period

100

100

 

Hammond Homes (Scartho Top) Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 30 September 2023

Loans from related parties

2023

Associates
£

Total
£

At start of period

3,000

3,000

Advanced

73,590

73,590

At end of period

76,590

76,590

2022

Associates
£

Total
£

Advanced

3,000

3,000

At end of period

3,000

3,000

10

Parent and ultimate parent undertaking

The company's immediate parent is Hammond Homes Holdings Ltd, incorporated in England and Wales.