REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED (REGISTERED NUMBER: 04153108) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Park House |
200 Drake Street |
Rochdale |
Lancashire |
OL16 1PJ |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED (REGISTERED NUMBER: 04153108) |
ABRIDGED BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Non distributable reserves | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED (REGISTERED NUMBER: 04153108) |
ABRIDGED BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED (REGISTERED NUMBER: 04153108) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Hallmark Developments (North West) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are transferred to a non distributable reserve. |
Stocks & long term contracts |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Development sites included in stock are valued at the lower of cost and net realisable value. |
Long term contracts are assessed on a contract by contract basis with turnover and contract costs recognised in a manner appropriate to the stage of completion of the contract. Where it is considered that the outcome of a contract can be assessed with reasonable certainty, the prudently calculated attributable profit is recognised in the profit and loss account. Full provision is made immediately for all known or expected losses on individual contracts. |
Taxation |
Taxation for the year 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 balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED (REGISTERED NUMBER: 04153108) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST OR VALUATION |
At 1 January 2023 |
and 31 December 2023 | 95,000 |
PROVISIONS |
At 1 January 2023 |
and 31 December 2023 | 94,999 |
NET BOOK VALUE |
At 31 December 2023 | 1 |
At 31 December 2022 | 1 |
Cost or valuation at 31 December 2023 is represented by: |
Totals |
£ |
Cost | 95,000 |
HALLMARK DEVELOPMENTS (NORTH WEST) |
LIMITED (REGISTERED NUMBER: 04153108) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
Additions |
Disposals | ( |
) |
Revaluations | 1,590,000 |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
Investment properties are included in the accounts at the estimated fair value. |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
2023 | 2022 |
£ | £ |
Repayable by instalments |
Bank loans - > 5 years | 1,070,512 | 556,295 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank loans |
Other loans |
The bank loans are secured by a debenture on the assets of the company and various legal charges over the properties to which the loans relate. The other loans are secured by legal charges over the properties to which they relate.. |
9. | RESERVES |
Non |
distributable |
reserves |
£ |
At 1 January 2023 |
Sale of revalued assets | (108,625 | ) |
Reserve transfer | 1,192,500 |
At 31 December 2023 |
10. | RELATED PARTY DISCLOSURES |
Included in other creditors due after more than one year is £972,170 due to PREL Limited, a company controlled by the director. |