Haycourt Developments Limited 09728761 false 2022-09-01 2023-08-31 2023-08-31 The principal activity of the company is that of property maintenance and facilities management. Digita Accounts Production Advanced 6.30.9574.0 true false false 09728761 2022-09-01 2023-08-31 09728761 2023-08-31 09728761 bus:OrdinaryShareClass1 bus:OtherShareType 2023-08-31 09728761 core:CurrentFinancialInstruments 2023-08-31 09728761 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 09728761 core:Non-currentFinancialInstruments 2023-08-31 09728761 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 09728761 core:AdditionsToInvestments 2023-08-31 09728761 core:CostValuation 2023-08-31 09728761 core:DisposalsRepaymentsInvestments 2023-08-31 09728761 core:FurnitureFittingsToolsEquipment 2023-08-31 09728761 core:MotorVehicles 2023-08-31 09728761 core:OtherPropertyPlantEquipment 2023-08-31 09728761 core:AllSubsidiaries 2023-08-31 09728761 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-31 09728761 bus:SmallEntities 2022-09-01 2023-08-31 09728761 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 09728761 bus:FullAccounts 2022-09-01 2023-08-31 09728761 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 09728761 bus:RegisteredOffice 2022-09-01 2023-08-31 09728761 bus:CompanySecretaryDirector1 2022-09-01 2023-08-31 09728761 bus:Director1 2022-09-01 2023-08-31 09728761 bus:Director2 2022-09-01 2023-08-31 09728761 bus:Director4 2022-09-01 2023-08-31 09728761 bus:OrdinaryShareClass1 bus:OtherShareType 2022-09-01 2023-08-31 09728761 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 09728761 core:Associate1 2022-09-01 2023-08-31 09728761 core:Associate1 countries:AllCountries 2022-09-01 2023-08-31 09728761 core:Associate2 2022-09-01 2023-08-31 09728761 core:Associate2 countries:AllCountries 2022-09-01 2023-08-31 09728761 core:FurnitureFittingsToolsEquipment 2022-09-01 2023-08-31 09728761 core:MotorVehicles 2022-09-01 2023-08-31 09728761 core:OfficeEquipment 2022-09-01 2023-08-31 09728761 core:OtherPropertyPlantEquipment 2022-09-01 2023-08-31 09728761 core:PlantMachinery 2022-09-01 2023-08-31 09728761 core:AllSubsidiaries 2022-09-01 2023-08-31 09728761 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-09-01 2023-08-31 09728761 core:Subsidiary1 2022-09-01 2023-08-31 09728761 core:Subsidiary1 1 2022-09-01 2023-08-31 09728761 core:Subsidiary1 countries:England 2022-09-01 2023-08-31 09728761 countries:AllCountries 2022-09-01 2023-08-31 09728761 2022-08-31 09728761 core:CostValuation 2022-08-31 09728761 core:FurnitureFittingsToolsEquipment 2022-08-31 09728761 core:MotorVehicles 2022-08-31 09728761 core:OtherPropertyPlantEquipment 2022-08-31 09728761 core:AllSubsidiaries 2022-08-31 09728761 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-08-31 09728761 2021-09-01 2022-08-31 09728761 2022-08-31 09728761 bus:OrdinaryShareClass1 bus:OtherShareType 2022-08-31 09728761 core:CurrentFinancialInstruments 2022-08-31 09728761 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 09728761 core:Non-currentFinancialInstruments 2022-08-31 09728761 core:Non-currentFinancialInstruments core:AfterOneYear 2022-08-31 09728761 core:FurnitureFittingsToolsEquipment 2022-08-31 09728761 core:MotorVehicles 2022-08-31 09728761 core:OtherPropertyPlantEquipment 2022-08-31 09728761 core:AllSubsidiaries 2022-08-31 09728761 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-08-31 09728761 core:Associate1 2021-09-01 2022-08-31 09728761 core:Associate2 2021-09-01 2022-08-31 09728761 core:AllSubsidiaries 2021-09-01 2022-08-31 09728761 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-09-01 2022-08-31 09728761 core:Subsidiary1 1 2021-09-01 2022-08-31 09728761 2021-08-31 09728761 core:AllSubsidiaries 2021-08-31 09728761 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09728761

Haycourt Developments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2023

 

Haycourt Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 11

 

Haycourt Developments Limited

Company Information

Directors

Mr R Hoy

Mrs S J Hoy

Mrs I F Hoy

Ms C G Hoy

Company secretary

Mrs I F Hoy

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

Haycourt Developments Limited

(Registration number: 09728761)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

7,711

9,483

Investments

4

22

22

 

7,733

9,505

Current assets

 

Debtors

5

5,378,849

4,316,240

Cash at bank and in hand

 

3,492

267,111

 

5,382,341

4,583,351

Creditors: Amounts falling due within one year

6

(408,790)

(325,888)

Net current assets

 

4,973,551

4,257,463

Total assets less current liabilities

 

4,981,284

4,266,968

Creditors: Amounts falling due after more than one year

6

(3,764,497)

(3,291,504)

Provisions for liabilities

(1,103)

(1,037)

Net assets

 

1,215,684

974,427

Capital and reserves

 

Called up share capital

7

40

40

Retained earnings

1,215,644

974,387

Shareholders' funds

 

1,215,684

974,427

For the financial year ending 31 August 2023 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 year 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.

 

Haycourt Developments Limited

(Registration number: 09728761)
Balance Sheet as at 31 August 2023

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 20 November 2024 and signed on its behalf by:
 

.........................................
Mr R Hoy
Director

 

Haycourt Developments Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

1

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.

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 and deferred 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.

 

Haycourt Developments Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

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:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Haycourt Developments Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 7).

 

Haycourt Developments Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 September 2022

-

16,300

4,140

20,440

Additions

798

-

-

798

At 31 August 2023

798

16,300

4,140

21,238

Depreciation

At 1 September 2022

-

8,158

2,799

10,957

Charge for the year

199

2,035

336

2,570

At 31 August 2023

199

10,193

3,135

13,527

Carrying amount

At 31 August 2023

599

6,107

1,005

7,711

At 31 August 2022

-

8,142

1,341

9,483

4

Investments

2023
£

2022
£

Investments in subsidiaries

2

2

Investments in associates

20

20

22

22

Subsidiaries

£

Cost or valuation

At 1 September 2022

2

Provision

Carrying amount

At 31 August 2023

2

At 31 August 2022

2

 

Haycourt Developments Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

Associates

£

Cost

At 1 September 2022

20

Additions

10

Disposals

(10)

At 31 August 2023

20

Provision

Carrying amount

At 31 August 2023

20

At 31 August 2022

20

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Code9 (Bristol) Limited

Unit 1, Office 1,
Tower Lane Business Park,
Tower Lane,
Warmley,
Bristol,
BS30 8XT

England

Ordinary

100%

100%

Associates

Ro Ho Limited

Unit 1, Office 1,
Tower Lane Business Park,
Tower Lane,
Warmley,
Bristol,
BS30 8XT

Ordinary

50%

50%

 

England

     

Lazy Lobster (Castle Cary) Limited

Unit 1, Office 1,
Tower Lane Business Park,
Tower Lane,
Warmley,
Bristol,
BS30 8XT

Ordinary

50%

50%

 

Haycourt Developments Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

 

England

     

Subsidiary undertakings

Code9 (Bristol) Limited

The principal activity of Code9 (Bristol) Limited is development of building projects.

Associates

Ro Ho Limited

The principal activity of Ro Ho Limited is development of building projects.

Lazy Lobster (Castle Cary) Limited

The principal activity of Lazy Lobster (Castle Cary) Limited is that of a licenced restaurant.

5

Debtors

Note

2023
£

2022
£

Trade debtors

 

4,231,552

4,024,146

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

35,069

24,871

Prepayments

 

814,627

160,105

Other debtors

 

297,601

107,118

 

5,378,849

4,316,240

 

Haycourt Developments Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

169,809

136,798

Taxation and social security

44,866

35,325

Accruals and deferred income

3,323

2,798

Other creditors

190,792

150,967

408,790

325,888

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

3,764,497

3,291,504

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

40

40

40

40

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

3,764,497

3,291,504

 

Haycourt Developments Limited

Notes to the Financial Statements for the Year Ended 31 August 2023

9

Related party transactions

Loans to related parties

2023

Subsidiary
£

Total
£

At start of period

24,871

24,871

Advanced

16,117

16,117

Repaid

(5,919)

(5,919)

At end of period

35,069

35,069

2022

Subsidiary
£

Key management
£

Total
£

At start of period

8,848

276,076

284,924

Advanced

16,023

-

16,023

Repaid

-

(276,076)

(276,076)

At end of period

24,871

-

24,871

Loans from related parties

2023

Key management
£

Total
£

At start of period

57,587

57,587

Advanced

212,700

212,700

Repaid

(198,237)

(198,237)

At end of period

72,050

72,050

2022

Key management
£

Total
£

Advanced

668,560

668,560

Repaid

(610,973)

(610,973)

At end of period

57,587

57,587