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REGISTERED NUMBER: 06562787 (England and Wales)


























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

HOLMPATRICK DEVELOPMENTS LTD

HOLMPATRICK DEVELOPMENTS LTD (REGISTERED NUMBER: 06562787)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HOLMPATRICK DEVELOPMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M Benyon
Mr R J J Fox
Mr A France
Mr A Dale





REGISTERED OFFICE: Lancots Lane
Sutton
St Helens
Merseyside
WA9 3EX





REGISTERED NUMBER: 06562787 (England and Wales)





AUDITORS: Livesey Spottiswood Ltd
Chartered Accountants and
Statutory Auditors
17 George Street
St Helens
Merseyside
WA10 1DB

HOLMPATRICK DEVELOPMENTS LTD (REGISTERED NUMBER: 06562787)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 59,823 52,966

CURRENT ASSETS
Stocks 14,200 20,000
Debtors 5 2,256,846 1,648,465
Cash at bank and in hand 4,482 191,654
2,275,528 1,860,119
CREDITORS
Amounts falling due within one year 6 (2,254,302 ) (1,733,520 )
NET CURRENT ASSETS 21,226 126,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,049

179,565

PROVISIONS FOR LIABILITIES (15,000 ) (13,250 )
NET ASSETS 66,049 166,315

CAPITAL AND RESERVES
Called up share capital 8 200 200
Retained earnings 65,849 166,115
SHAREHOLDERS' FUNDS 66,049 166,315

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:




Mr M Benyon - Director



Mr R J J Fox - Director


HOLMPATRICK DEVELOPMENTS LTD (REGISTERED NUMBER: 06562787)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Holmpatrick Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
In the application of the company's accounting policies as set out below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Management consider that the following have the most significant effect on the amounts recognised in the financial statements:

Financial outcome of individual contracts - All long term contracts are reviewed on a monthly basis, with particular attention to contract stage of completion, costs to date and costs still to be incurred. Movement in margin is recognised when prudent to do so but immediately in the event there is a foreseeable loss.

Turnover
Turnover is derived entirely from construction contracts and is measured at the fair value of the consideration received or receivable net of VAT and discounts.

When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is calculated using the percentage completion method. Amounts recoverable on these long-terms contracts are included within debtors. Payments on account in respect of long-term contracts are included within creditors.

Where the outcome cannot be measured reliably, the work in progress is valued at cost less payments on account. Cost includes all direct costs plus an appropriate amount of attributable overhead.

When contract costs are expected to exceed the total contract turnover, the expected loss is recognised immediately, with a corresponding provision.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Assets are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the average cost formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


HOLMPATRICK DEVELOPMENTS LTD (REGISTERED NUMBER: 06562787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount 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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense 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 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 balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 89,758
Additions 26,798
At 31 December 2023 116,556
DEPRECIATION
At 1 January 2023 36,792
Charge for year 19,941
At 31 December 2023 56,733
NET BOOK VALUE
At 31 December 2023 59,823
At 31 December 2022 52,966

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 280,424 591,307
Amounts recoverable on contracts 1,664,295 694,015
Other debtors 312,127 363,143
2,256,846 1,648,465

HOLMPATRICK DEVELOPMENTS LTD (REGISTERED NUMBER: 06562787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Payments on account - 100,000
Trade creditors 268,908 238,863
Taxation and social security 11,292 124,752
Other creditors 1,974,102 1,269,905
2,254,302 1,733,520

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Amounts due to group companies 1,871,505 1,151,564

There is a debenture in place with the parent company Holmpatrick Limited in the form of a fixed and floating charge over the assets of the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1 200 200

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Andrew McMinnis FCA FCCA (Senior Statutory Auditor)
for and on behalf of Livesey Spottiswood Ltd

10. CONTINGENT LIABILITIES

The company has entered into an inter-company bank guarantee with other group companies of up to £750,000 gross or £100,000 net. The net indebtedness of other group companies at 31 December 2023 was £Nil (2022 - £183,619).

11. RELATED PARTY DISCLOSURES

During the year the company provided construction services to the director, Mr M Benyon and his family amounting to £314,809 (2022 - £Nil). Normal commercial terms applied.

12. ULTIMATE PARENT COMPANY

The company's ultimate parent company is Holmpatrick Limited, a company incorporated in England and Wales. The registered office of Holmpatrick Limited is Lancots Lane, Sutton, St Helens, WA9 3EX.

13. PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.