HERTFORDSHIRE INFRASTRUCTURE & DEVELOPMENT BOARD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 OCTOBER 2024
Company Registration Number: 13603505
HERTFORDSHIRE INFRASTRUCTURE & DEVELOPMENT BOARD LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
CONTENTS PAGES
Company information 1
Balance sheet 2
Notes to the financial statements 3 to 5
HERTFORDSHIRE INFRASTRUCTURE & DEVELOPMENT BOARD LIMITED
COMPANY INFORMATION
FOR THE PERIOD ENDED 31 OCTOBER 2024
DIRECTOR
N J Davies
SECRETARY
M E Du-Venage
REGISTERED OFFICE
Whitefriars Business Centre 2nd Floor
Whitefriars
Lewins Mead
Bristol
BS1 2NT
COMPANY REGISTRATION NUMBER
13603505 England and Wales
HERTFORDSHIRE INFRASTRUCTURE & DEVELOPMENT BOARD LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2024
Notes 31 October 2024 30 September 2023
£ £
CURRENT ASSETS
Debtors 5 - 2,199
Cash at bank and in hand - 10,279
- 12,478
CREDITORS: Amounts falling due within one year 6 - 12,478
NET CURRENT ASSETS - -
NET ASSETS - -
CAPITAL AND RESERVES
MEMBER'S FUNDS - -
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
N J Davies
Director
Date approved by the board: 14 January 2025
HERTFORDSHIRE INFRASTRUCTURE & DEVELOPMENT BOARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
1 GENERAL INFORMATION
Hertfordshire Infrastructure & Development Board Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Whitefriars Business Centre 2nd Floor
Whitefriars
Lewins Mead
Bristol
BS1 2NT
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Going concern
The accounts have been drawn up on a basis other than going concern as the company ceased operations on 31 October 2024. As the going concern basis is not appropriate, adjustments have been made to reduce the value of assets to their recoverable amounts, to provide for additional liabilities that might arise as a result of the cessation and to reclassify fixed assets as current assets.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of subscription income as soon as there is a right to consideration and is determined by reference to the value of the work performed.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
HERTFORDSHIRE INFRASTRUCTURE & DEVELOPMENT BOARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
HERTFORDSHIRE INFRASTRUCTURE & DEVELOPMENT BOARD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including the director) during the period / year was:
31/10/2024 30/09/2023
Average number of employees 1 1
5 DEBTORS
31/10/2024 30/09/2023
£ £
Other debtors - 2,199
6 CREDITORS: Amounts falling due within one year
31/10/2024 30/09/2023
£ £
Trade creditors - 11,478
Accruals and deferred income - 1,000
- 12,478
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