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REGISTERED NUMBER: 01403587 (England and Wales)















HANNICK HOMES & DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH APRIL 2024






HANNICK HOMES & DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01403587)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


HANNICK HOMES & DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: Mr N F Cleverley
Miss H M Cleverley



SECRETARY: Miss H M Cleverley



REGISTERED OFFICE: Dammas House
Dammas Lane
Old Town
SWINDON
Wiltshire
SN1 3EF



REGISTERED NUMBER: 01403587 (England and Wales)



ACCOUNTANTS: Morris Owen
Chartered Accountants
43-45 Devizes Road
SWINDON
Wiltshire
SN1 4BG



BANKERS: Handelsbanken
Stella Building
Windmill Hill Business Park
Whitehill Way
Swindon
Wiltshire
SN5 6NX

HANNICK HOMES & DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01403587)

STATEMENT OF FINANCIAL POSITION
30TH APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,064 173,292
Investment property 5 8,243,500 8,127,500
8,396,564 8,300,792

CURRENT ASSETS
Stocks 9,447,659 8,316,278
Debtors 6 3,756,154 5,333,908
Cash at bank and in hand 3,877,723 2,842,112
17,081,536 16,492,298
CREDITORS
Amounts falling due within one year 7 4,817,050 3,442,247
NET CURRENT ASSETS 12,264,486 13,050,051
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,661,050

21,350,843

CREDITORS
Amounts falling due after more than
one year

8

-

(1,943,396

)

PROVISIONS FOR LIABILITIES 10 (674,018 ) (649,307 )
NET ASSETS 19,987,032 18,758,140

CAPITAL AND RESERVES
Called up share capital 11 30,000 30,000
Retained earnings 12 19,957,032 18,728,140
SHAREHOLDERS' FUNDS 19,987,032 18,758,140

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HANNICK HOMES & DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01403587)

STATEMENT OF FINANCIAL POSITION - continued
30TH APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th January 2025 and were signed on its behalf by:





Mr N F Cleverley - Director


HANNICK HOMES & DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01403587)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024


1. STATUTORY INFORMATION

Hannick Homes & Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01403587

Registered office: Dammas House, Dammas Lane, Old Town, Swindon, Wiltshire SN1 3EF

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In preparing these financial statements, the directors have made the following judgements:

- Determine the basis of the fair value of the investment property using the directors knowledge of the market and estimate of the rental multiple.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Review work in progress in regards to the stage of completion, in order to assess the point in which turnover is recognised.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determine an appropriate provision for contractual maintenance on previous property sales.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

HANNICK HOMES & DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01403587)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


2. ACCOUNTING POLICIES - continued

Stock and work in progress
Stock is valued at the lower of cost and net realisable value and represents commercial units that are being rented out.

Work in progress is valued at the amount chargeable on a contract by contract basis, based on the level of completion of the job. The profit element of the contract is recognised to the extent that the ultimate profitability of the contract is reasonably certain.

Financial instruments
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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 future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

HANNICK HOMES & DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01403587)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st May 2023 100,000 219,261 319,261
Additions - 1,597 1,597
Disposals - (31,380 ) (31,380 )
At 30th April 2024 100,000 189,478 289,478
DEPRECIATION
At 1st May 2023 - 145,969 145,969
Charge for year - 21,825 21,825
Eliminated on disposal - (31,380 ) (31,380 )
At 30th April 2024 - 136,414 136,414
NET BOOK VALUE
At 30th April 2024 100,000 53,064 153,064
At 30th April 2023 100,000 73,292 173,292

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023 8,127,500
Revaluations 116,000
At 30th April 2024 8,243,500
NET BOOK VALUE
At 30th April 2024 8,243,500
At 30th April 2023 8,127,500

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2012 27,691
Valuation in 2014 147,692
Valuation in 2015 301,633
Valuation in 2018 2,189,714
Valuation in 2019 (211,902 )
Valuation in 2021 591,079
Valuation in 2023 75,000
Valuation in 2024 116,000
Cost 5,006,593
8,243,500

Investment property has been valued at fair value by the directors using their knowledge of the open market and an estimate of the rental multiple.

HANNICK HOMES & DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01403587)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 3,145,292 2,276,996
Other debtors 610,862 661,865
3,756,154 2,938,861

Amounts falling due after more than one year:
Trade debtors - 2,395,047

Aggregate amounts 3,756,154 5,333,908

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,995,882 1,894,157
Amounts owed to group undertakings 266,364 666,364
Taxation and social security 280,597 169,412
Other creditors 2,274,207 712,314
4,817,050 3,442,247

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Trade creditors - 1,943,396

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Trade creditors 1,943,096 3,563,008

The bank holds the following assets as security:

The company has provided a debenture dated 28.03.2008.

Legal Mortgage over Eastcott House, 4 High Street, Swindon
Legal Mortgage over Little London Court, Swindon
Legal Mortgage over Parsonage Farm, Highworth, Swindon
Legal Mortgage over the land at Hopton Industrial Park, Devizes

Finally, the above balance within trade creditors is secured by way of a legal mortgage over land at Warminster, Wiltshire.

HANNICK HOMES & DEVELOPMENTS LIMITED (REGISTERED NUMBER: 01403587)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 12,368 16,657
Deferred tax on capital gains 661,650 632,650
674,018 649,307

Deferred
tax
£   
Balance at 1st May 2023 649,307
Provided during year 24,711
Balance at 30th April 2024 674,018

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary £1 30,000 30,000

12. RESERVES

Included within retained earnings is £2,575,257 (2023: £2,488,257) which is undistributable. This amount represents the difference between the fair value at the reporting date and the cost at initial recognition of the investment property, after taking into account any relevant deferred tax liability.