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Registered number: 11425272









HAMMOND DEVELOPMENTS HOME AND GARDEN LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
HAMMOND DEVELOPMENTS HOME AND GARDEN LTD
REGISTERED NUMBER: 11425272

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
32,062
39,983

  
32,062
39,983

Current assets
  

Debtors: amounts falling due within one year
 6 
931
6,001

Cash at bank and in hand
 7 
41,508
36,844

  
42,439
42,845

Creditors: amounts falling due within one year
 8 
(33,999)
(24,936)

Net current assets
  
 
 
8,440
 
 
17,909

Total assets less current liabilities
  
40,502
57,892

Creditors: amounts falling due after more than one year
 9 
(13,494)
(17,992)

Provisions for liabilities
  

Deferred tax
  
(6,092)
(7,597)

  
 
 
(6,092)
 
 
(7,597)

Net assets
  
20,916
32,303


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
20,914
32,301

  
20,916
32,303


Page 1

 
HAMMOND DEVELOPMENTS HOME AND GARDEN LTD
REGISTERED NUMBER: 11425272
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M J Hammond
Director

Date: 23 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HAMMOND DEVELOPMENTS HOME AND GARDEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Hammond Developments Home and Garden Ltd is a private limited Company Limited by shares  incorporated in England and Wales under the Companies Act 2006. The address of the registered offices is given on the Company information page.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that  the company has adequate resources to continue in operational existence for the foreseeable future.  Therefore, the director has adopted the going concern basis of accounting in preparing the financial  statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
HAMMOND DEVELOPMENTS HOME AND GARDEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20% Reducing balance
Office equipment
-
Over 3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
HAMMOND DEVELOPMENTS HOME AND GARDEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.8

Debtors

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

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

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and  assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and  the amounts reported for revenues and expenses during the year. The nature of estimation means the  actual outcomes could differ from those estimates.


4.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 5

 
HAMMOND DEVELOPMENTS HOME AND GARDEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
46,435
8,753
55,188


Additions
-
1,028
1,028



At 30 September 2024

46,435
9,781
56,216



Depreciation


At 1 October 2023
9,287
5,918
15,205


Charge for the year on owned assets
7,430
1,519
8,949



At 30 September 2024

16,717
7,437
24,154



Net book value



At 30 September 2024
29,718
2,344
32,062



At 30 September 2023
37,148
2,835
39,983


6.


Debtors

2024
2023
£
£


Prepayments and accrued income
931
2,076

Tax recoverable
-
3,925

931
6,001



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
41,508
36,844

41,508
36,844


Page 6

 
HAMMOND DEVELOPMENTS HOME AND GARDEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
5,125
939

Other taxation and social security
8,423
11,986

Obligations under finance lease and hire purchase contracts
4,498
4,498

Other creditors
13,063
4,763

Accruals and deferred income
2,890
2,750

33,999
24,936



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
13,494
17,992

13,494
17,992


Page 7

 
HAMMOND DEVELOPMENTS HOME AND GARDEN LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Deferred taxation




2024


£






At beginning of year
(7,597)


Charged to profit or loss
1,505



At end of year
(6,092)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(6,092)
(7,597)

(6,092)
(7,597)


11.


Related party transactions

Included within other creditors is a balance due to the director of £11,329 (2023: £4,763). There is no interest charged on this balance and it is repayable upon demand.

 
Page 8