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Registration number: 04949973

Harlington Homes Limited

Annual Report and Unaudited Financial Statements

for the year ended 31 October 2023

 

Harlington Homes Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Harlington Homes Limited

(Registration number: 04949973)
Statement of Financial Position
31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,205

2,740

Current assets

 

Debtors

5

205,092

69,189

Cash at bank and in hand

 

1,727

5,087

 

206,819

74,276

Creditors: Amounts falling due within one year

6

(148,919)

(21,013)

Net current assets

 

57,900

53,263

Total assets less current liabilities

 

59,105

56,003

Creditors: Amounts falling due after more than one year

6

(6,623)

(10,913)

Provisions for liabilities

(521)

(521)

Net assets

 

51,961

44,569

Capital and reserves

 

Called up share capital

2

2

Retained earnings

51,959

44,567

Shareholders' funds

 

51,961

44,569

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Harlington Homes Limited

(Registration number: 04949973)
Statement of Financial Position
31 October 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 August 2024
 

.........................................
R Flippance
Director

 

Harlington Homes Limited

Notes to the Unaudited Financial Statements
for the year ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wiston House
1 Wiston Avenue
Worthing
West Sussex
BN14 7QL
England

These financial statements were authorised for issue by the director on 27 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

 

Harlington Homes Limited

Notes to the Unaudited Financial Statements
for the year ended 31 October 2023

2

Accounting policies (continued)

Judgements

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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
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.

Tax

The tax expense for the period comprises current 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Harlington Homes Limited

Notes to the Unaudited Financial Statements
for the year ended 31 October 2023

2

Accounting policies (continued)

Asset class

Depreciation method and rate

Plant and machinery

over 5 years

Office equipment

between 2 and 5 years

Computer equipment

over 2 years

Motor vehicles

over 4 years

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

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.

 

Harlington Homes Limited

Notes to the Unaudited Financial Statements
for the year ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

10,673

13,745

48,466

72,884

At 31 October 2023

10,673

13,745

48,466

72,884

Depreciation

At 1 November 2022

9,771

13,744

46,629

70,144

Charge for the year

854

-

681

1,535

At 31 October 2023

10,625

13,744

47,310

71,679

Carrying amount

At 31 October 2023

48

1

1,156

1,205

At 31 October 2022

902

1

1,837

2,740

5

Debtors

Current

2023
£

2022
£

Trade debtors

13,200

-

Prepayments

769

436

Other debtors

191,123

68,753

 

205,092

69,189

 

Harlington Homes Limited

Notes to the Unaudited Financial Statements
for the year ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

4,744

4,854

Trade creditors

 

32,506

6,708

Taxation and social security

 

2,145

235

Accruals and deferred income

 

2,488

5,092

Other creditors

 

107,036

4,124

 

148,919

21,013

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

7

6,623

10,913

7

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

6,623

10,913

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,744

4,854