Company No:
Contents
Note | 30.11.2023 | 30.11.2022 | ||
£ | £ | |||
Fixed assets | ||||
Investment property | 3 |
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550,000 | 396,760 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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25,521 | 3,638 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current liabilities | (387,858) | (394,916) | ||
Total assets less current liabilities | 162,142 | 1,844 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Fair value reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Helmurdine Homes Ltd (registered number:
Mr A B Hillier
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
Helmurdine Homes Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leanne House East Wing Ground, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Year ended 30.11.2023 |
Period from 02.11.2021 to 30.11.2022 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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The company is run and administered by the directors of the company for whom no formal contracts of service are in place.
Investment property | |
£ | |
Valuation | |
As at 01 December 2022 |
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Fair value movement | 153,240 |
As at 30 November 2023 |
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Valuation
The investment properties class of fixed asset were adjusted on 30 November 2023 to fair value by the directors who are internal to the company. The basis of this valuation was open market value.
There has been no valuation of investment property by an independent valuer.
Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Historic cost | 396,760 | 396,760 |
30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Other debtors |
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30.11.2023 | 30.11.2022 | ||
£ | £ | ||
Taxation and social security |
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Other creditors |
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Transactions with the entity's directors
During the year one of the Directors maintained an interest-free loan account, which is repayable on demand. At the balance sheet date, the amount due to the Directors was £403,633 (2022 - £397,304).