REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HATCH END DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
HATCH END DEVELOPMENTS LIMITED |
HATCH END DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09436600) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Report of the Accountants | 2 |
Abridged Balance Sheet | 3 |
Notes to the Financial Statements | 5 |
HATCH END DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Marlborough House |
298 Regents Park Road |
London |
N3 2SZ |
HATCH END DEVELOPMENTS LIMITED |
REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
HATCH END DEVELOPMENTS LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us. |
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report. |
You have acknowledged on the balance sheet as at year ended 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year. |
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. |
Marlborough House |
298 Regents Park Road |
London |
N3 2SZ |
HATCH END DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09436600) |
ABRIDGED BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Revaluation reserve | 8 |
Retained earnings | 8 |
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. |
HATCH END DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09436600) |
ABRIDGED BALANCE SHEET - continued |
31 MARCH 2024 |
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 |
HATCH END DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09436600) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Hatch End Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HATCH END DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09436600) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 April 2023 |
Revaluations |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Cost or valuation at 31 March 2024 is represented by: |
Totals |
£ |
Valuation in 2024 | 745,515 |
Cost | 1,864,715 |
2,610,230 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 | 77,000 |
NET BOOK VALUE |
At 31 March 2024 | 77,000 |
At 31 March 2023 | 77,000 |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
31.3.24 | 31.3.23 |
£ | £ |
Repayable by instalments |
Bank loans more 5 yr by instal | 11,574 | 17,129 |
The bank loan amounts falling due in more than five years is repayable by instalments. |
The government grant is part of the BBL Scheme that was launched on 27 April 2020. The scheme is 100% government backed. The interest rate is 2.5% per year and the term of the loan is 10 years (2021 - 5 years) and early repayment is possible without additional charges. |
HATCH END DEVELOPMENTS LIMITED (REGISTERED NUMBER: 09436600) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.24 | 31.3.23 |
value: | £ | £ |
Ordinary £1.00 | £1 | 661,526 | 661,526 |
A Ordinary £1.00 | £1 | 1 | 1 |
B Ordinary £1.00 | £1 | 1 | 1 |
C Ordinary £1.00 | £1 | 1 | 1 |
D Ordinary £1.00 | £1 | 1 | 1 |
1 | E Ordinary £1.00 | £1 | 1 | 1 |
661,531 | 661,531 |
8. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 April 2023 | 674,059 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Transfer to/from revaluation | (559,136 | ) | 559,136 | - |
At 31 March 2024 | 1,228,922 |
9. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £28,000 (2023 - £47,000) were paid to the related shareholders. |
At the balance sheet date, included within creditors due within one year, is an amount of £380,781 |
(2023 - £322,308) owed to the directors. This loan is interest free, of no fixed term and repayable |
on demand. |
The Trustees of The Hatch End Developments Limited Trust now control the Company by virtue of |
their shareholding. The Trustees are Granite Trustee Company Limited. |