Company Registration No. 06126902 (England and Wales)
Hedgehog Development (Rayleigh) Limited
Unaudited accounts
for the year ended 30 April 2024
Hedgehog Development (Rayleigh) Limited
Statement of financial position
as at 30 April 2024
Cash at bank and in hand
2,331
64,475
Creditors: amounts falling due within one year
(70,313)
(2,495)
Net current assets
472,518
541,980
Net assets
472,518
541,980
Called up share capital
1,000
1,000
Share premium
280,825
280,825
Profit and loss account
190,693
260,155
Shareholders' funds
472,518
541,980
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 July 2024 and were signed on its behalf by
Mr Sagheer Riaz
Director
Company Registration No. 06126902
Hedgehog Development (Rayleigh) Limited
Notes to the Accounts
for the year ended 30 April 2024
Hedgehog Development (Rayleigh) Limited is a private company, limited by shares, registered in England and Wales, registration number 06126902. The registered office is 3 KENT GREEN CLOSE, HOCKLEY, ESSEX, SS5 4ED.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Hedgehog Development (Rayleigh) Limited
Notes to the Accounts
for the year ended 30 April 2024
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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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.
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.
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.
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
Hedgehog Development (Rayleigh) Limited
Notes to the Accounts
for the year ended 30 April 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loans made to the company
1,634
68,679
-
70,313
6
Transactions with related parties
The company has made a loan to a company controlled by the Director. This company is incorporated in England and Wales. The loan is interest free and payable on demand.
At 30th April 2024 the balance owed on this loan is as follows:
Mini Meadow Ltd £49,000.00 (2023: £0.00)
Pimco (UK) Limited £45,000.00 (2023: £0.00)
Rico (UK) Limited £446,500.00 (2023: £480,000.00)
7
Average number of employees
During the year the average number of employees was 1 (2023: 1).