COMPANY REGISTRATION NUMBER:
11993847
THE VILLAS AT HENSOL DEVELOPMENTS LIMITED |
|
FILLETED FINANCIAL STATEMENTS |
|
THE VILLAS AT HENSOL DEVELOPMENTS LIMITED |
|
STATEMENT OF FINANCIAL POSITION |
|
30 September 2023
|
30 Sep 23 |
31 May 23 |
Note |
£ |
£ |
|
|
|
Current assets
Stocks |
19,750 |
– |
Debtors |
4 |
3,700 |
100 |
|
--------- |
---- |
|
23,450 |
100 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
(
23,350) |
– |
|
--------- |
---- |
Net current assets |
100 |
100 |
|
---- |
---- |
Total assets less current liabilities |
100 |
100 |
|
---- |
---- |
|
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
|
---- |
---- |
Shareholder funds |
100 |
100 |
|
---- |
---- |
|
|
|
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 statement of income and retained earnings has not been delivered.
The directors acknowledge their 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 were approved by the
board of directors
and authorised for issue on
16 October 2024
, and are signed on behalf of the board by:
Company registration number:
11993847
THE VILLAS AT HENSOL DEVELOPMENTS LIMITED |
|
NOTES TO THE FINANCIAL STATEMENTS |
|
PERIOD FROM 1 JUNE 2023 TO 30 SEPTEMBER 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 York Street, London, W1H 1EZ.
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 in sterling on the historical cost basis. The company was dormant in the comparative period.
Going concern
The financial statements are prepared on a going concern basis which the directors believe to be appropriate for the following reasons. The company is reliant on a blend of external finance and funds available from other companies within the group. The group has facilities in place from external lenders and support is being provided by other group companies. Where the company is reliant on funds provided to it by other companies within the group, the group has provided the company with an undertaking that it will, for at least 12 months from the date of approval of these financial statements, continue to make available such funds as are needed by the company and in particular will not seek repayment of the amounts currently made available by the group. Whilst the group has been loss making and has net liabilities, the directors of the group consider, after a review of expected cashflows, that it has the means to provide this support to group companies without impacting on its ability to remain a a going concern. As with any company placing reliance on other group entities for financial support, the directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of these financial statements, they have no reason to believe that it will not do so. The directors have carried out their assessment of going concern and taking into account the economic conditions and possible changes in trading performance, alongside the facts noted above, they have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern.
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. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The key judgements and sources of estimation uncertainty that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as disclosed in the financial statements.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4.
Debtors
|
30 Sep 23 |
31 May 23 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
100 |
100 |
Other debtors |
3,600 |
– |
|
------- |
---- |
|
3,700 |
100 |
|
------- |
---- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
30 Sep 23 |
31 May 23 |
|
£ |
£ |
Trade creditors |
15,600 |
– |
Amounts owed to group undertakings |
7,750 |
– |
|
--------- |
---- |
|
23,350 |
– |
|
--------- |
---- |
|
|
|
6.
Contingencies
The company is part of a VAT group with other group companies and as such has a contingent liability in respect of any outstanding VAT.
7.
Summary audit opinion
The auditor's report dated
16 October 2024
was
unqualified
.
The senior statutory auditor was
Jonathan Day
, for and on behalf of
Streets Audit LLP
.
8.
Related party transactions
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.
9.
Controlling party
The Villas at Hensol Investments Limited is the immediate parent company. Acorn PG Holdings Limited is the ultimate parent company. The registered office of the companies is 29 York Street, London, England, W1H 1EZ. Copies of the financial statements for the parent company and group can be obtained from Companies House.