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Registered number: 12211713









HEMPNALL DEVELOPMENT LAND LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
HEMPNALL DEVELOPMENT LAND LIMITED
 

CONTENTS



Page
Accountants' report
 
 
1
Balance sheet
 
 
2 - 3
Notes to the financial statements
 
 
4 - 6


 
HEMPNALL DEVELOPMENT LAND LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HEMPNALL DEVELOPMENT LAND LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hempnall Development Land Limited for the year ended 30 September 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Hempnall Development Land Limited, as a body, in accordance with the terms of our engagement letter dated 5 December 2023Our work has been undertaken solely to prepare for your approval the financial statements of Hempnall Development Land Limited  and state those matters that we have agreed to state to the Board of directors of Hempnall Development Land Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hempnall Development Land Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Hempnall Development Land Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hempnall Development Land Limited. You consider that Hempnall Development Land Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Hempnall Development Land Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
7 The Close
Norwich
Norfolk
NR1 4DJ
 
16 February 2024
Page 1

 
HEMPNALL DEVELOPMENT LAND LIMITED
REGISTERED NUMBER: 12211713

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,120,309
1,484,202

Cash at bank and in hand
  
72,220
130,235

  
1,192,529
1,614,437

Creditors: amounts falling due within one year
 5 
(74,093)
(494,368)

Net current assets
  
 
 
1,118,436
 
 
1,120,069

  

Net assets
  
1,118,436
1,120,069


Capital and reserves
  

Called up share capital 
 6 
2
2

Profit and loss account
  
1,118,434
1,120,067

  
1,118,436
1,120,069


Page 2

 
HEMPNALL DEVELOPMENT LAND LIMITED
REGISTERED NUMBER: 12211713
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 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 year 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 statement of comprehensive income 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 15 February 2024.




Mr J S Wells
Director

The notes on pages 4 to 6 form part of these financial statements.

Page 3

 
HEMPNALL DEVELOPMENT LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Hempnall Development Land Limited is a private company, limited by shares, incorporated and domiciled in England & Wales. The Company's registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. 
The principal activity of the Company is that of property development, and activities are undertaken in Norwich.

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 property development has been completed, and the directors are currently considering the future of the Company with a view to striking it off. For this reason, the accounts have been prepared on a basis other than that of going concern.

 
2.3

Revenue

Revenue comprises property sales and investment income receivable by the Company. Property sales and investment income are recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. 

 
2.4

Interest income

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

 
2.5

Borrowing costs

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

 
2.6

Current and deferred taxation

The tax expense for the year comprises current tax.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

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 4

 
HEMPNALL DEVELOPMENT LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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 and loans to related parties.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Debtors

2023
2022
£
£


Other debtors
1,120,307
1,484,000

Called up share capital not paid
2
2

Deferred taxation
-
200

1,120,309
1,484,202



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
200

Other taxation and social security
-
265,208

Other creditors
73,080
73,080

Accruals and deferred income
1,013
155,880

74,093
494,368


Page 5

 
HEMPNALL DEVELOPMENT LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Share capital

2023
2022
£
£
Allotted, called up and partly paid



2 Ordinary shares of £1.00 each
2
2



7.


Related party transactions

There are loans to associates totalling £1,120,000 (2022 - £1,484,000) included within other debtors, in note 4 to the financial statements.

 
Page 6