18 false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04793622 2023-07-01 2024-06-30 04793622 2024-06-30 04793622 2023-06-30 04793622 2022-07-01 2023-06-30 04793622 2023-06-30 04793622 2022-06-30 04793622 core:PlantMachinery 2023-07-01 2024-06-30 04793622 core:FurnitureFittings 2023-07-01 2024-06-30 04793622 core:MotorVehicles 2023-07-01 2024-06-30 04793622 bus:Director1 2023-07-01 2024-06-30 04793622 bus:Director2 2023-07-01 2024-06-30 04793622 core:FurnitureFittings 2023-06-30 04793622 core:MotorVehicles 2023-06-30 04793622 core:PlantMachinery 2024-06-30 04793622 core:FurnitureFittings 2024-06-30 04793622 core:MotorVehicles 2024-06-30 04793622 core:WithinOneYear 2024-06-30 04793622 core:WithinOneYear 2023-06-30 04793622 core:AfterOneYear 2024-06-30 04793622 core:AfterOneYear 2023-06-30 04793622 core:ShareCapital 2024-06-30 04793622 core:ShareCapital 2023-06-30 04793622 core:RetainedEarningsAccumulatedLosses 2024-06-30 04793622 core:RetainedEarningsAccumulatedLosses 2023-06-30 04793622 core:BetweenOneFiveYears 2024-06-30 04793622 core:BetweenOneFiveYears 2023-06-30 04793622 core:FurnitureFittings 2023-06-30 04793622 core:MotorVehicles 2023-06-30 04793622 bus:Director1 2023-06-30 04793622 bus:Director1 2024-06-30 04793622 bus:Director2 2023-06-30 04793622 bus:Director2 2024-06-30 04793622 bus:Director1 2022-06-30 04793622 bus:Director1 2023-06-30 04793622 bus:Director2 2022-06-30 04793622 bus:Director2 2023-06-30 04793622 bus:Director1 2022-07-01 2023-06-30 04793622 bus:SmallEntities 2023-07-01 2024-06-30 04793622 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04793622 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04793622 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04793622 bus:FullAccounts 2023-07-01 2024-06-30 04793622 core:OfficeEquipment 2023-07-01 2024-06-30 04793622 core:OfficeEquipment 2023-06-30
COMPANY REGISTRATION NUMBER: 04793622
Hexagon Developments Limited
Filleted Unaudited Financial Statements
30 June 2024
Hexagon Developments Limited
Balance Sheet
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
48,956
8,582
Current assets
Debtors
6
841,193
539,463
Cash at bank and in hand
368,897
598,223
------------
------------
1,210,090
1,137,686
Creditors: amounts falling due within one year
7
527,011
507,527
------------
------------
Net current assets
683,079
630,159
---------
---------
Total assets less current liabilities
732,035
638,741
Creditors: amounts falling due after more than one year
8
30,045
4,198
---------
---------
Net assets
701,990
634,543
---------
---------
Capital and reserves
Called up share capital
100,000
100,000
Profit and loss account
601,990
534,543
---------
---------
Shareholders funds
701,990
634,543
---------
---------
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 profit and loss account has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hexagon Developments Limited
Balance Sheet (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 30 August 2024 , and are signed on behalf of the board by:
Mr K J O'Brien
Miss K M O'Brien
Director
Director
Company registration number: 04793622
Hexagon Developments Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:
Plant and machinery
-
20% straight line
Furniture and fixtures
-
33% straight line
Motor vehicles
-
33% straight line
Office equipment
-
33% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 18 (2023: 19 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Office equipment
Total
£
£
£
£
£
Cost
At 1 July 2023
19,600
13,994
918
34,512
Additions
25,779
42,968
68,747
Disposals
( 918)
( 918)
--------
--------
--------
----
---------
At 30 June 2024
25,779
19,600
56,962
102,341
--------
--------
--------
----
---------
Depreciation
At 1 July 2023
13,350
11,662
918
25,930
Charge for the year
8,593
3,125
16,655
28,373
Disposals
( 918)
( 918)
--------
--------
--------
----
---------
At 30 June 2024
8,593
16,475
28,317
53,385
--------
--------
--------
----
---------
Carrying amount
At 30 June 2024
17,186
3,125
28,645
48,956
--------
--------
--------
----
---------
At 30 June 2023
6,250
2,332
8,582
--------
--------
--------
----
---------
6. Debtors
2024
2023
£
£
Trade debtors
427,865
195,303
Other debtors
413,328
344,160
---------
---------
841,193
539,463
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
205,057
202,329
Corporation tax
9,703
28,602
Social security and other taxes
148,963
159,540
Other creditors
163,288
117,056
---------
---------
527,011
507,527
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
30,045
4,198
--------
-------
9. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2024
2023
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
1,111,688
1,137,686
------------
------------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
498,389
423,584
---------
---------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
15,154
35,779
Later than 1 year and not later than 5 years
18,007
67,848
--------
---------
33,161
103,627
--------
---------
11. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr K J O'Brien
21,259
3,164
24,423
Miss K M O'Brien
( 463)
93,864
93,401
--------
--------
---------
20,796
97,028
117,824
--------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr K J O'Brien
( 371)
21,630
21,259
Miss K M O'Brien
( 463)
( 463)
----
--------
--------
( 834)
21,630
20,796
----
--------
--------
All balances owed by the directors were cleared within 9 months of the year end.
12. Related party transactions
The company has made a loan of £25,000 to O'Brien Properties, a partnership in which both Mr O'Brien and Miss O'Brien are both partners. The balance of the loan outstanding at the balance sheet date was £nil (2023 - £12,500). The company has also made a loan of £164,077 to Hexagon Developments (Wimbledon) Limited, a company in which Mr O'Brien and Miss O'Brien are both directors and shareholders. The balance of the loan outstanding at the balance sheet date was £151,685 (2023 - £157,077). The company also made a loan of £148,523 to Cooo Limited, a company in which Mr O'Brien and Miss O'Brien are directors and shareholders. The balance of the loan outstanding at the balance sheet date was £138,819 (2023 - £148,523).