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Registration number: 09109204

Hesgyn Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Hesgyn Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Hesgyn Limited

(Registration number: 09109204)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

55,794

-

Investment property

5

140,000

358,000

 

195,794

358,000

Current assets

 

Debtors

6

9,151

1,535

Cash at bank and in hand

 

5,127

114,700

 

14,278

116,235

Creditors: Amounts falling due within one year

7

(150,114)

(325,286)

Net current liabilities

 

(135,836)

(209,051)

Total assets less current liabilities

 

59,958

148,949

Creditors: Amounts falling due after more than one year

7

(36,311)

(113,113)

Net assets

 

23,647

35,836

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

23,547

35,736

Shareholders' funds

 

23,647

35,836

For the financial year ending 31 July 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.

 

Hesgyn Limited

(Registration number: 09109204)
Balance Sheet as at 31 July 2024

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
Mr JD White
Director

 

Hesgyn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The Company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
22 Hilton Road
Disley
Stockport
Cheshire, England
Cheshire
SK12 2JU
UK

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.

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

Office Equipment

33% Straight Line

Motor Vehicles

25% Reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Hesgyn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Borrowings

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

4

Tangible Assets

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

1,056

-

1,056

Additions

469

55,325

55,794

At 31 July 2024

1,525

55,325

56,850

Depreciation

At 1 August 2023

1,056

-

1,056

At 31 July 2024

1,056

-

1,056

Carrying amount

At 31 July 2024

469

55,325

55,794

 

Hesgyn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Investment properties

2024
£

At 1 August

358,000

Disposals

(218,000)

At 31 July

140,000

In the opinion of the directors there had been no material change in the fair value of investment property held at 31 July 2024.

6

Debtors

Current

2024
£

2023
£

Trade Debtors

5,000

1,535

Prepayments

3,676

-

Other debtors

475

-

 

9,151

1,535

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

11,069

-

Accruals and deferred income

 

2,454

3,053

Other creditors

 

136,591

322,233

 

150,114

325,286

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £11,069 (2023 - £nil).

2024
£

2023
£

Current loans and borrowings

HP and finance lease liabilities

11,069

-

 

Hesgyn Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

36,311

113,113

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £36,311 (2023 - £113,113).

8

Dividends

Interim dividends paid

   

2024
£

 

2023
£

Interim dividend of £142.50 (2023 - £165.00) per each Ordinary Shares

 

14,250

 

16,500