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REGISTERED NUMBER: 10627748 (England and Wales)









Unaudited Financial Statements

for the Year Ended

31 August 2023

for

P Haigh Developments Limited

P Haigh Developments Limited (Registered number: 10627748)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


P Haigh Developments Limited (Registered number: 10627748)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,103 13,471

CURRENT ASSETS
Debtors 5 19,778 20,944

CREDITORS
Amounts falling due within one year 6 30,268 15,052
NET CURRENT (LIABILITIES)/ASSETS (10,490 ) 5,892
TOTAL ASSETS LESS CURRENT
LIABILITIES

(387

)

19,363

CREDITORS
Amounts falling due after more than one
year

7

-

(15,417

)

PROVISIONS FOR LIABILITIES (1,920 ) (2,559 )
NET (LIABILITIES)/ASSETS (2,307 ) 1,387

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (2,407 ) 1,287
SHAREHOLDERS' FUNDS (2,307 ) 1,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

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.

P Haigh Developments Limited (Registered number: 10627748)

Balance Sheet - continued
31 August 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





P Haigh - Director


P Haigh Developments Limited (Registered number: 10627748)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

P Haigh Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10627748

Registered office: 15a Upper Lane
Emley
Huddersfield
HD8 9RH

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention.

Going concern
These financial statements show that as at the balance sheet date the company had net liabilities. However, the director believes that it is appropriate to prepare the accounts on a going concern basis due to the related undertakings offering continued support to the company.

Turnover
Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. This is normally measured by the proportion that contract costs incurred for work performed to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt considered probable.

Where the outcome of a contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.

When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost, net of depreciation.

Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life as follows:

Motor vehicles- 25% on reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

P Haigh Developments Limited (Registered number: 10627748)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an Annual General Meeting.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

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 company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - amounts owed by/to related parties, other debtors, cash and bank balances, trade creditors, other creditors, and bank loans.

Amounts owed by/to related parties (being repayable on demand), other debtors, cash and bank balances, trade creditors, and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest and subsequently measured at amortised cost using the effective interest method.

P Haigh Developments Limited (Registered number: 10627748)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had impairment not been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 21,799
DEPRECIATION
At 1 September 2022 8,328
Charge for year 3,368
At 31 August 2023 11,696
NET BOOK VALUE
At 31 August 2023 10,103
At 31 August 2022 13,471

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by related parties 8,713 8,713
Other debtors 11,065 12,231
19,778 20,944

P Haigh Developments Limited (Registered number: 10627748)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,442 6,479
Trade creditors 2,580 2,700
Amounts owed to related parties 150 -
Taxation and social security 3,956 4,433
Other creditors 1,140 1,440
30,268 15,052

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 15,417

8. CALLED UP SHARE CAPITAL

2023 2022
£ £
Allotted, issued and fully paid 100 100

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
P Haigh
Balance outstanding at start of year 9,202 6,164
Amounts advanced 2,000 14,815
Amounts repaid (2,880 ) (11,777 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,322 9,202

P Haigh Developments Limited (Registered number: 10627748)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

10. RELATED PARTY DISCLOSURES

The director and shareholder of the company is also a director and shareholder of The Sun Rooms Limited.

The loan of £8,257 due from The Sun Rooms Limited as at the year ended 31 August 2023 remains
unchanged. This balance is shown in note 5 of the accounts, is repayable on demand, and is non
interest bearing.

The director and shareholder of the company is also a director and shareholder of P Haigh Property Developments Limited.

The loan of £456 due from P Haigh Property Developments Limited as at the year ended 31 August
2023 remains unchanged. This balance is shown in note 5 of the accounts, is repayable on demand,
and is non interest bearing.

The director and shareholder of the company is also a director of Haigh Property Services Limited.

During the year ended 31 August 2023, the company loan £150 from Haigh Property Services Limited.
The balance due to Haigh Property Services Limited as at the year end was £1150 This balance is
shown in note 6 of the accounts, is repayable on demand, and is non interest bearing.