Heap Developments Limited 11764462 false 2024-04-01 2024-09-30 2024-09-30 The principal activity of the company is development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true true 11764462 2024-04-01 2024-09-30 11764462 2024-09-30 11764462 core:RetainedEarningsAccumulatedLosses 2024-09-30 11764462 core:ShareCapital 2024-09-30 11764462 core:CurrentFinancialInstruments 2024-09-30 11764462 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 11764462 bus:SmallEntities 2024-04-01 2024-09-30 11764462 bus:AuditExemptWithAccountantsReport 2024-04-01 2024-09-30 11764462 bus:FilletedAccounts 2024-04-01 2024-09-30 11764462 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2024-09-30 11764462 bus:RegisteredOffice 2024-04-01 2024-09-30 11764462 bus:Director2 2024-04-01 2024-09-30 11764462 bus:PrivateLimitedCompanyLtd 2024-04-01 2024-09-30 11764462 countries:EnglandWales 2024-04-01 2024-09-30 11764462 2023-04-01 2024-03-31 11764462 2024-03-31 11764462 core:RetainedEarningsAccumulatedLosses 2024-03-31 11764462 core:ShareCapital 2024-03-31 11764462 core:CurrentFinancialInstruments 2024-03-31 11764462 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 11764462

Heap Developments Limited

Unaudited Filleted Financial Statements

for the Period from 1 April 2024 to 30 September 2024

 

Heap Developments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Heap Developments Limited

(Registration number: 11764462)
Balance Sheet as at 30 September 2024

Note

2024
£

2024
£

Current assets

 

Stocks

5

2,565,777

2,002,425

Debtors

6

382,016

205,019

Cash at bank and in hand

 

125,605

9,276

 

3,073,398

2,216,720

Creditors: Amounts falling due within one year

7

(3,079,301)

(2,220,136)

Net liabilities

 

(5,903)

(3,416)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(5,905)

(3,418)

Shareholders' deficit

 

(5,903)

(3,416)

For the financial period ending 30 September 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

.........................................
RL Clark
Director

 

Heap Developments Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 September 2024

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:
Copthurst Farm
Barrowford Road
Padiham
Burnley
Lancashire
BB12 9AS
England

These financial statements were authorised for issue by the Board on 19 November 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) 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.

Tangible assets

Tangible assets are stated in the balance sheet 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:

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.

 

Heap Developments Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 September 2024

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Heap Developments Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 September 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2024 - 2).

4

Tangible assets

Cost or valuation

Depreciation

Carrying amount

At 30 September 2024

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of long leasehold land and buildings.
 

5

Stocks

2024
£

2024
£

Work in progress

2,565,777

2,002,425

6

Debtors

Current

2024
£

2024
£

Other debtors

382,016

205,019

 

382,016

205,019

 

Heap Developments Limited

Notes to the Unaudited Financial Statements for the Period from 1 April 2024 to 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2024
£

Due within one year

 

Loans and borrowings

8

1,847,309

1,105,103

Trade creditors

 

1,114,182

978,820

Accruals and deferred income

 

117,810

136,213

 

3,079,301

2,220,136

8

Loans and borrowings

Current loans and borrowings

2024
£

2024
£

Bank borrowings

1,847,309

1,105,103