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REGISTERED NUMBER: 00686564 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

HEVINGHAM DEVELOPMENT COMPANY LIMITED

HEVINGHAM DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: 00686564)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEVINGHAM DEVELOPMENT COMPANY LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: Mrs A M Magnus
Mrs P C Hinchley
Mr A P Magnus
Mr J T Magnus



SECRETARY: Mrs A M Magnus



REGISTERED OFFICE: The Sawmills
The Street
Felthorpe
Norwich
Norfolk
NR10 4DH



REGISTERED NUMBER: 00686564 (England and Wales)



ACCOUNTANTS: Sexty & Co
Chartered Certified Accountants
124 Thorpe Road
Norwich
Norfolk
NR1 1RS



BANKERS: Barclays Bank PLC
Market Place
Aylsham
Norwich
Norfolk

HEVINGHAM DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: 00686564)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 604,412 605,880
Investment property 5 8,651,724 8,651,724
9,256,136 9,257,604

CURRENT ASSETS
Stocks 500 500
Debtors 6 756,004 734,346
Cash at bank 14,406 10,941
770,910 745,787
CREDITORS
Amounts falling due within one year 7 1,030,464 1,035,181
NET CURRENT LIABILITIES (259,554 ) (289,394 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,996,582

8,968,210

PROVISIONS FOR LIABILITIES 1,489,800 1,487,100
NET ASSETS 7,506,782 7,481,110

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 8 7,504,782 7,479,110
SHAREHOLDERS' FUNDS 7,506,782 7,481,110

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

HEVINGHAM DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: 00686564)

BALANCE SHEET - continued
30 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





Mr J T Magnus - Director


HEVINGHAM DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: 00686564)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

Hevingham Development Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

The financial statements are presented in pounds sterling and are rounded to the nearest pound.

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.
Freehold property - 2% on cost
Machinery - 10% on cost
Fixtures and fittings - 12.5% on cost
Motor vehicles - 25% on cost
Caravan - 10% on cost

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

HEVINGHAM DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: 00686564)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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 17 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Freehold Freehold
property land Machinery
£    £    £   
COST
At 1 May 2023 725,568 232,816 52,834
Additions - - 15,750
At 30 April 2024 725,568 232,816 68,584
DEPRECIATION
At 1 May 2023 357,145 - 51,882
Charge for year 14,512 - 2,388
At 30 April 2024 371,657 - 54,270
NET BOOK VALUE
At 30 April 2024 353,911 232,816 14,314
At 30 April 2023 368,423 232,816 952

Fixtures
and Motor
fittings vehicles Caravan Totals
£    £    £    £   
COST
At 1 May 2023 204,999 54,596 7,353 1,278,166
Additions 1,026 - - 16,776
At 30 April 2024 206,025 54,596 7,353 1,294,942
DEPRECIATION
At 1 May 2023 201,310 54,596 7,353 672,286
Charge for year 1,344 - - 18,244
At 30 April 2024 202,654 54,596 7,353 690,530
NET BOOK VALUE
At 30 April 2024 3,371 - - 604,412
At 30 April 2023 3,689 - - 605,880

HEVINGHAM DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: 00686564)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 8,651,724
NET BOOK VALUE
At 30 April 2024 8,651,724
At 30 April 2023 8,651,724

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 7,556,848
Cost 1,094,876
8,651,724

The investment property was valued on an open market basis by the Directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 254,860 277,657
Other debtors 501,144 456,689
756,004 734,346

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 32,164 114,251
Taxation and social security 83,862 50,714
Other creditors 914,438 870,216
1,030,464 1,035,181

8. RESERVES

Included within retained earnings is £6,064,548 of non distributable reserves.

HEVINGHAM DEVELOPMENT COMPANY LIMITED (REGISTERED NUMBER: 00686564)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

9. RELATED PARTY DISCLOSURES

Other creditors include the following amounts owed to / (from) directors and other related parties:

2024 2023
£    £   
Mrs A M Magnus 87,708 46,277
Mrs P C Hinchley (174 ) (174 )
Mr A P Magnus 45,176 44,790
Mr J T Magnus 35,176 33,152


During the year, the company entered into transactions with the following companies in which Mrs A M Magnus, Mrs P C Hinchley, Mr A P Magnus and Mr J T Magnus are directors and shareholders:

a) The company provided building materials and services to Horsford Development Co Ltd at a market value of £26,716 (2023 £21,326). A net amount of £78,193 (2023 £100,902) was owed to Horsford Development Co Ltd at the balance sheet date.

b) The company provided building materials and services to G T Morrison Ltd at a market value of £18,598 (2023 £19,044). G T Morrison Ltd provided goods and services to the company at a market value of £14,016 (2023 £33,302). A net amount of £543,709 (2023 £458,875) was due from G T Morrison Ltd at the balance sheet date.

c) The company recharged expenditure to Dog Lane Blockworks Ltd at a market value of £195 (2023 £1,267). A net amount of £567,306 (2023 £577,501) was owed to Dog Lane Blockworks Ltd at the balance sheet date.