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Registration number: 01954835

H. & S. Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

image-name
 

H. & S. Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

H. & S. Developments Limited

Company Information

Directors

Mrs C Stone

Mr M Stone

Miss K L Stone

Miss T M Stone

Company secretary

Mrs C Stone

Registered office

Larks Rise
Furpits Lane
Langport
Somerset
TA10 9HJ

Accountants

Bishop Jones Limited
Chartered Accountants
9 Sadler Street
Wells
Somerset
BA5 2RR

 

H. & S. Developments Limited

(Registration number: 01954835)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,299

37,106

Investment property

5

230,503

230,503

 

259,802

267,609

Current assets

 

Stocks

6

1,245,820

969,744

Debtors

7

303,832

286,006

Cash at bank and in hand

 

14,267

174,535

 

1,563,919

1,430,285

Creditors: Amounts falling due within one year

8

(514,942)

(303,941)

Net current assets

 

1,048,977

1,126,344

Net assets

 

1,308,779

1,393,953

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,308,679

1,393,853

Shareholders' funds

 

1,308,779

1,393,953

For the financial year ending 30 April 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.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

 

H. & S. Developments Limited

(Registration number: 01954835)
Balance Sheet as at 30 April 2024

.........................................
Mrs C Stone
Company secretary and director

 

H. & S. Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Larks Rise
Furpits Lane
Langport
Somerset
TA10 9HJ
United Kingdom

These financial statements were authorised for issue by the Board on 28 January 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

H. & S. Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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

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

Plant and machinery

15% Reducing balance

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

H. & S. Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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).

 

H. & S. Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

72,612

4,100

76,712

Disposals

(3,000)

-

(3,000)

At 30 April 2024

69,612

4,100

73,712

Depreciation

At 1 May 2023

36,236

3,370

39,606

Charge for the year

5,074

183

5,257

Eliminated on disposal

(450)

-

(450)

At 30 April 2024

40,860

3,553

44,413

Carrying amount

At 30 April 2024

28,752

547

29,299

At 30 April 2023

36,376

730

37,106

5

Investment properties

2024
£

At 1 May

230,503

At 30 April

230,503

There has been no valuation of investment property by an independent valuer.

6

Stocks

2024
£

2023
£

Work in progress

1,245,820

969,744

7

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

10

-

271,755

Prepayments

 

2,393

3,149

Other debtors

 

301,439

11,102

   

303,832

286,006

 

H. & S. Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

8,002

22,026

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

204,129

-

Taxation and social security

 

600

600

Accruals and deferred income

 

5,516

2,508

Other creditors

 

296,695

278,807

 

514,942

303,941

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Repayments by director
£

At 30 April 2024
£

Mrs C Stone

Directors loan account

(36,229)

-

(36,229)

Mr M Stone

Directors loan account

(178,924)

(6,000)

(184,924)

Miss K L Stone

Directors loan account

(35,859)

-

(35,859)

Miss T M Stone

Directors loan account

(35,859)

-

(35,859)

 

H. & S. Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

At 1 May 2022
£

Repayments by director
£

At 30 April 2023
£

Mrs C Stone

Directors loan account

(43,229)

7,000

(36,229)

Mr M Stone

Directors loan account

(199,461)

20,537

(178,924)

Miss K L Stone

Directors loan account

(35,859)

-

(35,859)

Miss T M Stone

Directors loan account

(35,859)

-

(35,859)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

42,000

42,000