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REGISTERED NUMBER: 14176831 (England and Wales)















HEYROD DEVELOPMENTS LIMITED

FINANCIAL STATEMENTS FOR THE PERIOD 16 JUNE 2022 TO 30 NOVEMBER 2023






HEYROD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14176831)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 16 JUNE 2022 TO 30 NOVEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


HEYROD DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 16 JUNE 2022 TO 30 NOVEMBER 2023







DIRECTOR: P F Gillespie





SECRETARY: D J Wedlock





REGISTERED OFFICE: Albion Works
Clowes Street
Chadderton
Oldham
OL9 7LY





REGISTERED NUMBER: 14176831 (England and Wales)





AUDITORS: DJH Mitten Clarke Audit Limited
Accountants
Statutory Auditors
The Exchange
5 Bank Street
Bury
BL9 0DN

HEYROD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14176831)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

Notes £   
CURRENT ASSETS
Inventories 3,999,294

CREDITORS
Amounts falling due within one year 4 (4,002,169 )
NET CURRENT LIABILITIES (2,875 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,875

)

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings (2,975 )
(2,875 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 March 2024 and were signed by:





P F Gillespie - Director


HEYROD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14176831)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 16 JUNE 2022 TO 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Heyrod Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 14176831 and the registered office address is Albion Works, Clowes Street, Chadderton, Oldham, OL9 7LY.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Despite the company having negative reserves at the year end date, the director has prepared the financial statements on a going concern basis. The director is confident that the property under construction will be sold at a profit once construction is complete. The company will receive the ongoing support of its parent, Heyrod Holdings Limited, to service debts as they fall due up to the date of sale of the property.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Assessing inventory for impairment is considered to be a key judgement.

Inventories
Inventories and work in progress are valued at the lower of cost and net realisable value.

Cost is comprised of all construction costs in bringing the property to its present condition. Net realisable value is considered to be the overall selling price, less any costs to complete and sell.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.


HEYROD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 14176831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 16 JUNE 2022 TO 30 NOVEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Revenue
Revenue from the sale of property is recognised at the point at which legal title transfers to the purchaser.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 1,026,136
Amounts owed to group undertakings 2,976,033
4,002,169

5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Taylor (Senior Statutory Auditor)
for and on behalf of DJH Mitten Clarke Audit Limited

6. ULTIMATE CONTROLLING PARTY

The immediate and ultimate parent company is Heyrod Holdings Limited, a company registered in the United Kingdom. The results of the company are included within the consolidated financial statements of Heyrod Holdings Limited, copies of which can be obtained from the company's registered office, Albion Works, Clowes Street, Chadderton, Oldham, OL9 7LY.