REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2022 TO 30 SEPTEMBER 2023 |
FOR |
HALSBURY HOMES (SOUTH EAST) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 APRIL 2022 TO 30 SEPTEMBER 2023 |
FOR |
HALSBURY HOMES (SOUTH EAST) LIMITED |
HALSBURY HOMES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 09423075) |
ABRIDGED BALANCE SHEET |
30 September 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
HALSBURY HOMES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 09423075) |
ABRIDGED BALANCE SHEET - continued |
30 September 2023 |
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 |
HALSBURY HOMES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 09423075) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 April 2022 to 30 September 2023 |
1. | STATUTORY INFORMATION |
Halsbury Homes (South East) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 09423075 and the registered office is Seymour House, Little Money Road, Loddon, Norwich Norfolk, NR14 6JD. The presentation currency of the financial statements is sterling. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements report on the 18 month period ended 30 September 2023. The comparatives are not entirely comparable as they report on the 12 month period ended 31 March 2022,. The company's financial year end was changed for commercial reasons. |
Revenue recognition |
Revenue comprises the fair value of the consideration received or receivable for the sale of properties developed for private sale in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts. |
The company recognises revenue when: |
- | The amount of revenue can be reliably measured at the fair value of the consideration received; |
- | it is probable that future economic benefits will flow to the entity; |
- |
and specific criteria have been met for each of the company's activities such as legal completion of a house sale. |
Depreciation |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Motor vehicles | - 25% on reducing balance |
Furniture, fittings and equipment | - 20% Straight line |
Stocks and work in progress |
Stocks and work in progress comprise development land and properties under construction and are valued at the lower of cost and net realisable value. The cost of work in progress includes all direct construction costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. |
Regular reviews are completed for impairment in the value and provisions made accordingly to reflect any loss of value. Land without the benefit of planning consent, either through purchase of freehold land or non-refundable deposits paid on land purchase contracts subject to planning consent, are capitalised initially at cost. Regular reviews are completed for impairment in the value of these land investments, and provision made to reflect any irrecoverable element. The impairment reviews consider the existing use value of the land and assesses the likelihood of achieving planning consent and the value thereof. |
HALSBURY HOMES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 09423075) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2022 to 30 September 2023 |
2. | ACCOUNTING POLICIES - continued |
Cash and cash equivalents |
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. |
Trade creditors |
Trade creditors are obligations to pay for goods or services, including retentions, that have been acquired in the ordinary course of business from suppliers. |
Borrowings |
Interest-bearing borrowings are recorded at fair value, net of transaction costs. |
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. |
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
Taxation |
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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 is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. |
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference. |
Provisions |
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. |
Defined contribution pension obligation |
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. |
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2022 - NIL). |
HALSBURY HOMES (SOUTH EAST) LIMITED (REGISTERED NUMBER: 09423075) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2022 to 30 September 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 April 2022 |
Disposals | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for period |
Eliminated on disposal | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 31 March 2022 |
5. | RELATED PARTY DISCLOSURES |
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. |