Company registration number 09954923 (England and Wales)
HUDSON DRUCE HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
HUDSON DRUCE HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HUDSON DRUCE HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
1,164,834
2,389,896
Cash at bank and in hand
1
15,010
1,164,835
2,404,906
Creditors: amounts falling due within one year
5
(1,050)
(64,050)
Net current assets
1,163,785
2,340,856
Capital and reserves
Called up share capital
6
1
2
Profit and loss reserves
1,163,784
2,340,854
Total equity
1,163,785
2,340,856

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 13 September 2024 and are signed on its behalf by:
G Hudson
Director
Company registration number 09954923 (England and Wales)
HUDSON DRUCE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Hudson Druce Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 High Street, Brentwood, Essex, CM14 4AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of 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 show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value]. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

HUDSON DRUCE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,111,740
2,276,802
Other debtors
53,094
113,094
1,164,834
2,389,896
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,050
64,050
HUDSON DRUCE HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
2
1
2

On 06 April 2023, the Company purchased one ordinary share for cancellation for £1,950,000.

7
Related party transactions

 

2023
2022
Amounts due to related parties
£
£
Entities over which the entity has control, joint control or significant influence
-
63,000

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due from related parties
£
£
Entities over which the entity has control, joint control or significant influence
1,111,740
2,276,802
8
Directors' transactions

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors loans
-
113,094
90,000
(150,000)
53,094
113,094
90,000
(150,000)
53,094

Directors advances have been repaid since the year end.

2023-12-312023-01-01false13 September 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityG HudsonC Hudsonfalsefalse099549232023-01-012023-12-31099549232023-12-31099549232022-12-3109954923core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3109954923core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109954923core:ShareCapital2023-12-3109954923core:ShareCapital2022-12-3109954923core:RetainedEarningsAccumulatedLosses2023-12-3109954923core:RetainedEarningsAccumulatedLosses2022-12-3109954923bus:Director12023-01-012023-12-31099549232022-01-012022-12-3109954923core:CurrentFinancialInstruments2022-12-3109954923core:WithinOneYear2023-12-3109954923core:WithinOneYear2022-12-3109954923core:CurrentFinancialInstruments2023-12-3109954923bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109954923bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109954923bus:FRS1022023-01-012023-12-3109954923bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3109954923bus:Director22023-01-012023-12-3109954923bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP