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REGISTERED NUMBER: 07687505 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

HG1Build Limited

HG1Build Limited (Registered number: 07687505)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HG1Build Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: T Vincent
Mrs E Vincent





SECRETARY: Mrs E Vincent





REGISTERED OFFICE: 8 East View Court
Goldsborough
Knaresborough
North Yorkshire
HG5 8PT





REGISTERED NUMBER: 07687505 (England and Wales)





ACCOUNTANTS: Richard Smedley Limited
Chartered Accountants & Registered Auditors
Richmond House
Lawnswood Business Park
Redvers Close
Leeds
West Yorkshire
LS16 6QY

HG1Build Limited (Registered number: 07687505)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,848 13,523

CURRENT ASSETS
Stocks 10,000 19,000
Debtors 5 25,355 31,504
Cash at bank 74,410 107,809
109,765 158,313
CREDITORS
Amounts falling due within one year 6 58,513 83,114
NET CURRENT ASSETS 51,252 75,199
TOTAL ASSETS LESS CURRENT
LIABILITIES

60,100

88,722

CREDITORS
Amounts falling due after more than one year 7 (2,430 ) (7,921 )

PROVISIONS FOR LIABILITIES - (1,499 )
NET ASSETS 57,670 79,302

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,570 79,202
57,670 79,302

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HG1Build Limited (Registered number: 07687505)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2024 and were signed on its behalf by:





T Vincent - Director


HG1Build Limited (Registered number: 07687505)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

HG1Build Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents amounts receivable in respect of goods and services supplied during the period excluding VAT.

Revenue Recognition
Revenue is recognised as contract activity progresses under contractual obligations which are performed gradually over time. Uncompleted contracts at the balance sheet date are brought into account by reference to the value of the work performed and are described in the accounts as amounts recoverable on contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost

Stocks
Work in progress includes materials on site, and is valued at the lower of cost and net realisable value.

Financial instruments
Basic financial instruments are recognised at amortised cost, derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HG1Build Limited (Registered number: 07687505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 4,550 9,395 54,096 68,041
Disposals - - (22,698 ) (22,698 )
At 31 March 2024 4,550 9,395 31,398 45,343
DEPRECIATION
At 1 April 2023 4,226 8,945 41,347 54,518
Charge for year 275 150 4,250 4,675
Eliminated on disposal - - (22,698 ) (22,698 )
At 31 March 2024 4,501 9,095 22,899 36,495
NET BOOK VALUE
At 31 March 2024 49 300 8,499 8,848
At 31 March 2023 324 450 12,749 13,523

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 17,484 25,251
Retentions 2,324 3,748
Other debtors 5,547 2,505
25,355 31,504

HG1Build Limited (Registered number: 07687505)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 5,491 5,043
Trade creditors 13,517 38,639
Taxation and social security 23,756 19,903
Other creditors 15,749 19,529
58,513 83,114

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 2,430 7,921

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2024 and the period ended 31 March 2023:

31.3.24 31.3.23
£    £   
T Vincent and Mrs E Vincent
Balance outstanding at start of year (3,976 ) 283
Amounts advanced 8,284 261
Amounts repaid (2,520 ) (4,520 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,788 (3,976 )