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Company registration number: 550203
Sparrows Herne Development Limited
Unaudited filleted financial statements
30 April 2024
Sparrows Herne Development Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Sparrows Herne Development Limited
Directors and other information
Directors Mr R.W. Evans
Mrs P.J. Evans
Ms T.Z. Evans
Ms S.J. Evans
Secretary Mr R.W. Evans
Company number 550203
Registered office 19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
Accountants Hardcastle Blake
19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
Bankers Barclays Bank plc
28 George Street
Luton
Beds
LU1 2AE
Sparrows Herne Development Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Sparrows Herne Development Limited
Year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sparrows Herne Development Limited for the year ended 30 April 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Sparrows Herne Development Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Sparrows Herne Development Limited and state those matters that we have agreed to state to the board of directors of Sparrows Herne Development Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sparrows Herne Development Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Sparrows Herne Development Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sparrows Herne Development Limited. You consider that Sparrows Herne Development Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Sparrows Herne Development Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hardcastle Blake
ICAEW
19 New Road
Drayton Parslow
Milton Keynes
MK17 0JH
18 January 2025
Sparrows Herne Development Limited
Statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 4 62,196 62,196
_______ _______
62,196 62,196
Current assets
Debtors:
Amounts falling due within one year 5 392,551 437,551
_______ _______
392,551 437,551
Net current assets 392,551 437,551
_______ _______
Total assets less current liabilities 454,747 499,747
_______ _______
Net assets 454,747 499,747
_______ _______
Capital and reserves
Called up share capital 100 100
Capital reserve 12,729 12,729
Profit and loss account 441,918 486,918
_______ _______
Shareholders funds 454,747 499,747
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 18 January 2025 , and are signed on behalf of the board by:
Mr R.W. Evans
Director
Company registration number: 550203
Sparrows Herne Development Limited
Statement of changes in equity
Year ended 30 April 2024
Called up share capital User defined reserve 1 Profit and loss account Total
£ £ £ £
At 1 May 2022 100 12,729 516,918 529,747
Profit for the year - -
_______ _______ _______ _______
Total comprehensive income for the year - - - -
Dividends paid and payable ( 30,000) ( 30,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 30,000) ( 30,000)
_______ _______ _______ _______
At 30 April 2023 and 1 May 2023 100 12,729 486,918 499,747
Profit for the year - -
_______ _______ _______ _______
Total comprehensive income for the year - - - -
Dividends paid and payable ( 45,000) ( 45,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 45,000) ( 45,000)
_______ _______ _______ _______
At 30 April 2024 100 12,729 441,918 454,747
_______ _______ _______ _______
Sparrows Herne Development Limited
Notes to the financial statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 19 New Road, Drayton Parslow, Milton Keynes, MK17 0JH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
4. Investments
Shares in group undertakings Total
£ £
Cost
At 1 May 2023 and 30 April 2024 62,196 62,196
_______ _______
Impairment
At 1 May 2023 and 30 April 2024 - -
_______ _______
Carrying amount
At 30 April 2024 62,196 62,196
_______ _______
At 30 April 2023 62,196 62,196
_______ _______
5. Debtors
Debtors falling due within one year are as follows:
2024 2023
£ £
Amounts owed by group undertakings 392,551 437,551
_______ _______
6. Controlling party
The company is controlled by Mr and Mrs R.W. Evans by virtue of their controlling interest in the company .