Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 04202940 Mrs Belinder Kaur Dhillon Mr Harinder Singh Dhillon iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 04202940 2022-12-31 04202940 2023-12-31 04202940 2023-01-01 2023-12-31 04202940 frs-core:CurrentFinancialInstruments 2023-12-31 04202940 frs-core:Non-currentFinancialInstruments 2023-12-31 04202940 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04202940 frs-core:PlantMachinery 2023-12-31 04202940 frs-core:PlantMachinery 2023-01-01 2023-12-31 04202940 frs-core:PlantMachinery 2022-12-31 04202940 frs-core:RevaluationReserve 2022-12-31 04202940 frs-core:RevaluationReserve 2023-12-31 04202940 frs-core:ShareCapital 2023-12-31 04202940 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 04202940 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04202940 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 04202940 frs-bus:SmallEntities 2023-01-01 2023-12-31 04202940 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04202940 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 04202940 frs-core:CostValuation 2022-12-31 04202940 frs-core:AdditionsToInvestments 2023-12-31 04202940 frs-core:CostValuation 2023-12-31 04202940 frs-core:ProvisionsForImpairmentInvestments 2022-12-31 04202940 frs-core:ProvisionsForImpairmentInvestments 2023-12-31 04202940 frs-bus:Director1 2023-01-01 2023-12-31 04202940 frs-bus:Director2 2023-01-01 2023-12-31 04202940 frs-countries:EnglandWales 2023-01-01 2023-12-31 04202940 2021-12-31 04202940 2022-12-31 04202940 2022-01-01 2022-12-31 04202940 frs-core:CurrentFinancialInstruments 2022-12-31 04202940 frs-core:Non-currentFinancialInstruments 2022-12-31 04202940 frs-core:RevaluationReserve 2022-12-31 04202940 frs-core:ShareCapital 2022-12-31 04202940 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 04202940
HD Property Developments Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Smith Hannah Limited
Chartered Certified Accountants
50 Woodgate
Leicester
LE3 5GF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 04202940
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,411 5,117
Investment Properties 5 2,767,624 766,004
Investments 6 247,500 -
3,018,535 771,121
CURRENT ASSETS
Stocks 197,805 1,548,350
Debtors 7 51,875 27,214
Cash at bank and in hand 16,829 22,123
266,509 1,597,687
Creditors: Amounts Falling Due Within One Year 8 (106,261 ) (25,795 )
NET CURRENT ASSETS (LIABILITIES) 160,248 1,571,892
TOTAL ASSETS LESS CURRENT LIABILITIES 3,178,783 2,343,013
Creditors: Amounts Falling Due After More Than One Year 9 (1,823,301 ) (1,010,437 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,739 ) (8,739 )
NET ASSETS 1,346,743 1,323,837
CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Revaluation reserve 10 68,500 68,500
Profit and Loss Account 1,276,243 1,253,337
SHAREHOLDERS' FUNDS 1,346,743 1,323,837
Page 1
Page 2
For the year ending 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Harinder Singh Dhillon
Director
10th September 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HD Property Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04202940 . The registered office is 9 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not provided
Plant & Machinery 10% straight line
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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Page 4
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: NIL)
2 -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2023 17,059
As at 31 December 2023 17,059
Depreciation
As at 1 January 2023 11,942
Provided during the period 1,706
As at 31 December 2023 13,648
Net Book Value
As at 31 December 2023 3,411
As at 1 January 2023 5,117
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 766,004
Additions 2,001,620
As at 31 December 2023 2,767,624
Page 4
Page 5
6. Investments
Other
£
Cost
As at 1 January 2023 -
Additions 247,500
As at 31 December 2023 247,500
Provision
As at 1 January 2023 -
As at 31 December 2023 -
Net Book Value
As at 31 December 2023 247,500
As at 1 January 2023 -
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 9,967 2,261
Other debtors 36,314 9,282
Amounts owed by group undertakings 5,594 15,671
51,875 27,214
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 93,888 19,289
Other taxes and social security - 3,006
Other creditors 12,373 3,500
106,261 25,795
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans - 14,136
Other creditors 1,537,813 970,813
Amounts owed to group undertakings 285,488 25,488
1,823,301 1,010,437
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Page 6
10. Reserves
Revaluation Reserve
£
As at 1 January 2023 68,500
As at 31 December 2023 68,500
Page 6