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REGISTERED NUMBER: 05402628 (England and Wales)











Hutcheon Construction Limited

Unaudited Financial Statements

for the Year Ended 29th February 2024






Hutcheon Construction Limited (Registered number: 05402628)






Contents of the Financial Statements
for the Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Hutcheon Construction Limited

Company Information
for the Year Ended 29th February 2024







DIRECTOR: K L Hutcheon





REGISTERED OFFICE: 33 Chester Road West
Queensferry
Deeside
Flintshire
CH5 1SA





REGISTERED NUMBER: 05402628 (England and Wales)





ACCOUNTANTS: Henry R. Davis & Co. Limited
Chartered Accountants
33 Chester Road West
Queensferry
Deeside
Flintshire
CH5 1SA

Hutcheon Construction Limited (Registered number: 05402628)

Balance Sheet
29th February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 104,774 133,525
Investments 6 446,000 -
550,774 133,525

CURRENT ASSETS
Stocks 122,475 40,641
Debtors 7 160,722 149,362
Investments 8 700,000 -
Cash at bank 329,679 1,463,375
1,312,876 1,653,378
CREDITORS
Amounts falling due within one year 9 166,748 191,942
NET CURRENT ASSETS 1,146,128 1,461,436
TOTAL ASSETS LESS CURRENT LIABILITIES 1,696,902 1,594,961

PROVISIONS FOR LIABILITIES 25,660 25,370
NET ASSETS 1,671,242 1,569,591

CAPITAL AND RESERVES
Called up share capital 20 20
Retained earnings 1,671,222 1,569,571
SHAREHOLDERS' FUNDS 1,671,242 1,569,591

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Hutcheon Construction Limited (Registered number: 05402628)

Balance Sheet - continued
29th February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th November 2024 and were signed by:





K L Hutcheon - Director


Hutcheon Construction Limited (Registered number: 05402628)

Notes to the Financial Statements
for the Year Ended 29th February 2024

1. STATUTORY INFORMATION

Hutcheon Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hutcheon Construction Limited (Registered number: 05402628)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st March 2023
and 29th February 2024 200,000
AMORTISATION
At 1st March 2023
and 29th February 2024 200,000
NET BOOK VALUE
At 29th February 2024 -
At 28th February 2023 -

Hutcheon Construction Limited (Registered number: 05402628)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st March 2023 1,289 385,226 386,515
Disposals - (18,575 ) (18,575 )
At 29th February 2024 1,289 366,651 367,940
DEPRECIATION
At 1st March 2023 - 252,990 252,990
Charge for year - 26,272 26,272
Eliminated on disposal - (16,096 ) (16,096 )
At 29th February 2024 - 263,166 263,166
NET BOOK VALUE
At 29th February 2024 1,289 103,485 104,774
At 28th February 2023 1,289 132,236 133,525

6. FIXED ASSET INVESTMENTS
Other
loans
£   
New in year 450,000
Repayment in year (9,000 )
Other movement 5,000
At 29th February 2024 446,000

On 19th June 2023 Hutcheon Construction Limited became the registered holder of £200,000 of 10% fixed rate secured convertible loan notes issued by Deepbridge Capital LLP. The notes are repayable and interest shall accrue daily at a rate of 10% per annum.

On 29th November 2023 Hutcheon Construction Limited issued a loan of £250,000 to Brymon Limited. The loan is repayable over 5 years with interest payable at a rate of 8% per annum.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 160,722 149,362

Hutcheon Construction Limited (Registered number: 05402628)

Notes to the Financial Statements - continued
for the Year Ended 29th February 2024

8. CURRENT ASSET INVESTMENTS
29.2.24 28.2.23
£    £   
Investec 700,000 -

On 24th January 2024 Hutcheon Construction Limited invested £700,000 in British Government Bonds. Interest is payable half yearly on 31st January and 31st July. The bond will mature and be repaid at par on 31st January 2025.

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 74,047 104,548
Taxation and social security 86,358 81,688
Other creditors 6,343 5,706
166,748 191,942