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Huntingwood Developments Ltd

Registration number : 06559622



















Annual Report and Unaudited Financial Statements

for the year ended 30 April 2024

 

Huntingwood Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Huntingwood Developments Ltd

Company Information

Directors

Mr David John Taylor

Mrs Tracey Joan McDonald-Taylor

Registered office

Units 9 & 10 Brickfields
Huyton Business Park
Huyton
Merseyside
L36 6HY

Accountants

McParland Williams Limited
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

 

Huntingwood Developments Ltd

(Registration number: 06559622)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

880,920

903,196

Current assets

 

Debtors

6

312,573

21,719

Cash at bank and in hand

 

41,895

10,463

 

354,468

32,182

Creditors: Amounts falling due within one year

7

(537,833)

(117,407)

Net current liabilities

 

(183,365)

(85,225)

Total assets less current liabilities

 

697,555

817,971

Creditors: Amounts falling due after more than one year

7

-

(146,884)

Net assets

 

697,555

671,087

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

697,455

670,987

Total equity

 

697,555

671,087

For the financial year ending 30 April 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 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.

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 23 December 2024 and signed on its behalf by:
 

 

Huntingwood Developments Ltd

(Registration number: 06559622)
Balance Sheet as at 30 April 2024

.........................................
Mr David John Taylor
Director

.........................................
Mrs Tracey Joan McDonald-Taylor
Director

 
     
 

Huntingwood Developments Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 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:
Units 9 & 10 Brickfields
Huyton Business Park
Huyton
Merseyside
L36 6HY

These financial statements were authorised for issue by the Board on 23 December 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 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

Huntingwood Developments Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

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

Freehold Property

2% Straight Line Basis

Motor vehicles

25% Reducing Balance Basis

Fixture and fittings

25% Reducing Balance Basis

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.

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

 

Huntingwood Developments Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Taxation

Tax charged/(credited) in the income statement

2024
 £

2023
 £

Current taxation

UK corporation tax

25,814

28,309

 

Huntingwood Developments Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

1,071,180

8,080

1,079,260

At 30 April 2024

1,071,180

8,080

1,079,260

Depreciation

At 1 May 2023

171,392

4,672

176,064

Charge for the year

21,424

852

22,276

At 30 April 2024

192,816

5,524

198,340

Carrying amount

At 30 April 2024

878,364

2,556

880,920

At 30 April 2023

899,788

3,408

903,196

Included within the net book value of land and buildings above is £878,364 (2023 - £899,788) in respect of freehold land and buildings.
 

6

Debtors

2024
£

2023
£

Trade debtors

19,255

18,717

Other debtors

290,798

-

Prepayments

2,520

3,002

312,573

21,719

 

Huntingwood Developments Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

462,800

43,643

Taxation and social security

 

45,160

46,329

Accruals and deferred income

 

-

1,254

Other creditors

 

29,873

26,181

 

537,833

117,407

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

146,884

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

-

146,884

 

Huntingwood Developments Ltd

Notes to the Unaudited Financial Statements for the year ended 30 April 2024

2024
£

2023
£

Current loans and borrowings

Bank borrowings

-

43,643

Other borrowings

462,800

-

462,800

43,643