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Company registration number: 04135407
HADRIAN ENTERPRISES LIMITED
UNAUDITED FILLETED FINANCIAL STATEMENTS
30 November 2023
HADRIAN ENTERPRISES LIMITED
Company number: 04135407
CONTENTS
Statement of financial position
Notes to the financial statements
HADRIAN ENTERPRISES LIMITED
Company number: 04135407
STATEMENT OF FINANCIAL POSITION
AS AT 30TH NOVEMBER 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 682,907 692,205
Investments 5 240,000 240,000
_______ _______
922,907 932,205
Current assets
Debtors 6 40,610 35,419
Cash at bank and in hand 94,271 61,762
_______ _______
134,881 97,181
Creditors: amounts falling due
within one year 7 ( 340,556) ( 389,346)
_______ _______
Net current liabilities ( 205,675) ( 292,165)
_______ _______
Total assets less current liabilities 717,232 640,040
Provisions for liabilities ( 231) ( 257)
_______ _______
Net assets 717,001 639,783
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 8 716,999 639,781
_______ _______
Shareholders funds 717,001 639,783
_______ _______
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 August 2024 , and are signed on behalf of the board by:
.................................
D Nichol
Director
Company registration number: 04135407
HADRIAN ENTERPRISES LIMITED
Company number: 04135407
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH NOVEMBER 2023
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Hadrian Enterprises Limited, Unit 4B, Haugh Lane, Addison Industrial Estate, Blaydon on Tyne, NE21 4TE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investment property - 2 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Freehold property Fixtures, fittings and equipment Total
£ £ £
Cost
At 1st December 2022 941,130 6,534 947,664
Additions 9,858 - 9,858
_______ _______ _______
At 30th November 2023 950,988 6,534 957,522
_______ _______ _______
Depreciation
At 1st December 2022 250,277 5,182 255,459
Charge for the year 19,021 135 19,156
_______ _______ _______
At 30th November 2023 269,298 5,317 274,615
_______ _______ _______
Carrying amount
At 30th November 2023 681,690 1,217 682,907
_______ _______ _______
At 30th November 2022 690,853 1,352 692,205
_______ _______ _______
5. Investments
Other investments other than loans Total
£ £
Cost
At 1st December 2022 and 30th November 2023 240,000 240,000
_______ _______
Impairment
At 1st December 2022 and 30th November 2023 - -
_______ _______
Carrying amount
At 30th November 2023 240,000 240,000
_______ _______
At 30th November 2022 240,000 240,000
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 8,412 3,393
Other debtors 32,198 32,026
_______ _______
40,610 35,419
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 3,434 3,962
Corporation tax 28,500 23,806
Social security and other taxes 5,163 4,771
Other creditors 303,459 356,807
_______ _______
340,556 389,346
_______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9. Directors advances, credits and guarantees
2023 2022
£ £
D Nichol 11,057 11,057
Mrs F Nichol 11,057 11,057
_______ | _______ |
22,114 22,114
_______ | _______ |