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COMPANY REGISTRATION NUMBER: 08029338
HUSSAIN DEVELOPMENTS LTD
Filleted Unaudited Financial Statements
30 April 2024
HUSSAIN DEVELOPMENTS LTD
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1,996,513
1,727,170
Current assets
Debtors
6
733
53,871
Cash at bank and in hand
22,955
170,556
--------
---------
23,688
224,427
Creditors: amounts falling due within one year
7
140,836
148,663
---------
---------
Net current (liabilities)/assets
( 117,148)
75,764
------------
------------
Total assets less current liabilities
1,879,365
1,802,934
Creditors: amounts falling due after more than one year
8
1,131,720
1,113,860
------------
------------
Net assets
747,645
689,074
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
747,545
688,974
---------
---------
Shareholders funds
747,645
689,074
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HUSSAIN DEVELOPMENTS LTD
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 31 December 2024 , and are signed on behalf of the board by:
A HUSSAIN
Director
Company registration number: 08029338
HUSSAIN DEVELOPMENTS LTD
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 NEW BROADWAY, UXBRIDGE ROAD, HILLINGDON, UB10 0LL, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture & fittings
-
20% reducing balance
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 1 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 May 2023
1,715,517
21,950
1,737,467
Additions
260,560
15,596
276,156
------------
--------
------------
At 30 April 2024
1,976,077
37,546
2,013,623
------------
--------
------------
Depreciation
At 1 May 2023
10,297
10,297
Charge for the year
6,813
6,813
------------
--------
------------
At 30 April 2024
17,110
17,110
------------
--------
------------
Carrying amount
At 30 April 2024
1,976,077
20,436
1,996,513
------------
--------
------------
At 30 April 2023
1,715,517
11,653
1,727,170
------------
--------
------------
6. Debtors
2024
2023
£
£
Other debtors
733
53,871
----
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
3,715
42,824
Corporation tax
11,717
94,308
Social security and other taxes
7,301
Other creditors
125,404
4,230
---------
---------
140,836
148,663
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,110,887
1,082,884
Bounce back loan
20,833
30,976
------------
------------
1,131,720
1,113,860
------------
------------
9. Director's advances, credits and guarantees
Directors loan account relates to directors current account.
10. Related party transactions
The company was under the control of A HUSSAIN throughout the current period. A HUSSAIN is the managing director holding 50% share capital in the company.