REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HARARD DEVELOPMENTS (PENISTONE) LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HARARD DEVELOPMENTS (PENISTONE) LTD |
HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734) |
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 |
HARARD DEVELOPMENTS (PENISTONE) LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Victoria Road |
Barnsley |
South Yorkshire |
S70 2BB |
BANKERS: |
Fargate |
Sheffield |
South Yorkshire |
S1 1LL |
HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734) |
BALANCE SHEET - continued |
31 MARCH 2024 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Harard Developments (Penistone) Ltd is a |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
During the year, the company generated a net loss of £116,044 (2023 - £75,043) and had net current liabilities of £670,168 (2023 - £670,168). |
The directors and related party creditors have given an undertaking to support the company until it returns to a net assets position, as a result the financial statements have been prepared on a going concern basis. |
Significant judgements and estimates |
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements. |
There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Stocks |
Stock comprises land and properties held for development and resale. Stocks are valued at the lower of cost and net realisable value. |
Financial instruments |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
HARARD DEVELOPMENTS (PENISTONE) LTD (REGISTERED NUMBER: 05761734) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
VAT |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Other creditors |
Directors' current accounts | 80,350 | 80,350 |
Accruals and deferred income |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary | £1 | 300 | 300 |
7. | RELATED PARTY DISCLOSURES |
During the year the directors' accrued interest payable on their loan account balances totalling £10,636 (2023 - £6,879). Interest is accrued at a rate of 4% above the Bank of England base rate. |
31.3.24 | 31.3.23 |
£ | £ |
Net loans received from related parties | 9,000 | 10,000 |
Interest accrued on loans | 104,067 | 66,823 |
Invoices paid on behalf of related parties | - | - |
Amount due to related parties | 810,718 | 801,718 |
Interest is accrued on other related party loans at a rate of 4% above the Bank of England base rate. |