Registration number:
Hillswood Developments Ltd
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Hillswood Developments Ltd
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Hillswood Developments Ltd
Company Information
Director |
J H Crehan |
Registered office |
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Accountants |
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Hillswood Developments Ltd
Statement of Financial Position as at 31 March 2024
Note |
2024 |
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Current assets |
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Stocks |
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Debtors |
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Creditors: Amounts falling due within one year |
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Net liabilities |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
(6,679) |
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Shareholders' deficit |
(6,579) |
For the financial period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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J H Crehan
Director
Company registration number: 15042512
Hillswood Developments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of property development.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Summary of significant accounting policies
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Short period of account
These financial statements relate to the 8 months from 1 August 2023 to 31 March 2024.
Going concern
The company made a loss for the period ended 31 March 2024 and had net liabilities at that date amounting to £6,579.
The company is reliant on the financial support of a fellow group undertaking, to whom an amount of £487,957 was due at 31 March 2024, until the sale of the property held in stock. This undertaking has confirmed that it will not call for repayment and will continue to support the company until such time as it has sufficient working capital. The company has minimal fixed overheads.
After making enquiries, the director has a reasonable expectation that the company had adequate resources to continue in existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Hillswood Developments Ltd
Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 31 March 2024
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Share capital
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.
Staff numbers |
The average number of persons employed by the company during the period, was
Stocks |
2024 |
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Stock |
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Debtors |
2024 |
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Amounts owed by group undertakings |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Related party transactions |
Exemption is taken under FRS 102 paragraph 1AC.35 not to disclose transactions or amounts falling due with companies wholly owned within the group.