IRIS Accounts Production v24.3.0.553 13576699 director 31.8.22 30.1.24 30.1.24 28.1.25 0 0 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh135766992022-08-30135766992024-01-30135766992022-08-312024-01-30135766992021-08-19135766992021-08-202022-08-30135766992022-08-3013576699ns15:EnglandWales2022-08-312024-01-3013576699ns14:PoundSterling2022-08-312024-01-3013576699ns10:Director12022-08-312024-01-3013576699ns10:PrivateLimitedCompanyLtd2022-08-312024-01-3013576699ns10:SmallEntities2022-08-312024-01-3013576699ns10:Audited2022-08-312024-01-3013576699ns10:SmallCompaniesRegimeForDirectorsReport2022-08-312024-01-3013576699ns10:SmallCompaniesRegimeForAccounts2022-08-312024-01-3013576699ns10:FullAccounts2022-08-312024-01-3013576699ns10:RegisteredOffice2022-08-312024-01-3013576699ns5:CurrentFinancialInstruments2024-01-3013576699ns5:CurrentFinancialInstruments2022-08-3013576699ns5:Non-currentFinancialInstruments2024-01-3013576699ns5:Non-currentFinancialInstruments2022-08-3013576699ns5:ShareCapital2024-01-3013576699ns5:ShareCapital2022-08-3013576699ns5:RetainedEarningsAccumulatedLosses2024-01-3013576699ns5:RetainedEarningsAccumulatedLosses2022-08-3013576699ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3013576699ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-30
REGISTERED NUMBER: 13576699 (England and Wales)















Financial Statements for the Period 31 August 2022 to 30 January 2024

for

Hb Developments (Nw) Limited

Hb Developments (Nw) Limited (Registered number: 13576699)






Contents of the Financial Statements
for the Period 31 August 2022 to 30 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hb Developments (Nw) Limited

Company Information
for the Period 31 August 2022 to 30 January 2024







DIRECTOR: J J Ball





REGISTERED OFFICE: 116 Duke Street
Liverpool
Merseyside
L1 5JW





REGISTERED NUMBER: 13576699 (England and Wales)





AUDITORS: Xeinadin Audit Limited
116 Duke Street
Liverpool
Merseyside
L1 5JW

Hb Developments (Nw) Limited (Registered number: 13576699)

Balance Sheet
30 January 2024

30.1.24 30.8.22
Notes £    £   
CURRENT ASSETS
Stocks 6,517,007 1,939,567
Debtors 4 34,072 1,821
Cash at bank and in hand 245,748 100
6,796,827 1,941,488
CREDITORS
Amounts falling due within one year 5 986,095 1,968,239
NET CURRENT ASSETS/(LIABILITIES) 5,810,732 (26,751 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,810,732

(26,751

)

CREDITORS
Amounts falling due after more than one
year

6

6,265,288

-
NET LIABILITIES (454,556 ) (26,751 )

CAPITAL AND RESERVES
Called up share capital 200 100
Retained earnings (454,756 ) (26,851 )
(454,556 ) (26,751 )

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 director and authorised for issue on 28 January 2025 and were signed by:





J J Ball - Director


Hb Developments (Nw) Limited (Registered number: 13576699)

Notes to the Financial Statements
for the Period 31 August 2022 to 30 January 2024

1. STATUTORY INFORMATION

Hb Developments (Nw) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The company is operating at the early stage of their development and despite the losses and net liability, the directors believe that the company is a going concern as they have adequate funding to complete the development and sell the properties at a profit.
The accounts are prepared for period that is over 12 months therefore not comparable to the prior year.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is derived from ordinary activities and is measured at the fair value of the consideration received or receivable from management fees, excluding discounts, rebates, value added tax and other sales taxes. The company recognises revenue in the period which the service is accrued.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Intercompany loans (being repayable on demand) are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Taxation
Taxation for the period 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.


Hb Developments (Nw) Limited (Registered number: 13576699)

Notes to the Financial Statements - continued
for the Period 31 August 2022 to 30 January 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.1.24 30.8.22
£    £   
Amounts owed by associates 33,375 -
Other debtors 697 1,821
34,072 1,821

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.1.24 30.8.22
£    £   
Bank loans and overdrafts - 908,727
Trade creditors 3,886 -
Amounts owed to associates 969,209 1,058,511
Other creditors 13,000 1,001
986,095 1,968,239

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.1.24 30.8.22
£    £   
Bank loans 6,265,288 -

7. SECURED DEBTS

The following secured debts are included within creditors:

30.1.24 30.8.22
£    £   
Bank loans 6,265,288 908,727

United trust bank Limited provide finance and holds a charge over the land and buildings included in Work in progress

Hb Developments (Nw) Limited (Registered number: 13576699)

Notes to the Financial Statements - continued
for the Period 31 August 2022 to 30 January 2024

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.


The prior period financial statements have not been audited. Sufficient appropriate audit evidence regarding opening balances has been obtained.

Philip Harrison BSc ACA (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited

9. RELATED PARTY DISCLOSURES

Included in creditors is £969,209 (2022: £1,058,511) and included in debtors £33,375 (2022: Nil) due to/from companies which share a director with HB Developments (NW) Limited. The loans are interest free and repayable on demand.