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Registration number: 09565884

Hollin Developments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Hollin Developments Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Hollin Developments Ltd

(Registration number: 09565884)
Balance Sheet as at 30 April 2024

Note

2024
£

(As restated)

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

109,554

 

114,985

Investment property

5

 

148,689

 

153,999

   

258,243

 

268,984

Current assets

   

 

Debtors

6

880

 

932

 

Cash at bank and in hand

 

100

 

100

 

 

980

 

1,032

 

Creditors: Amounts falling due within one year

7

(247,112)

 

(266,635)

 

Net current liabilities

   

(246,132)

 

(265,603)

Total assets less current liabilities

   

12,111

 

3,381

Provisions for liabilities

 

(6,000)

 

(2,000)

Net assets

   

6,111

 

1,381

Capital and reserves

   

 

Called up share capital

9

100

 

100

 

Retained earnings

6,011

 

1,281

 

Shareholders' funds

   

6,111

 

1,381

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.

 

Hollin Developments Ltd

(Registration number: 09565884)
Balance Sheet as at 30 April 2024

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 30 January 2025 and signed on its behalf by:
 

.........................................
Mr C Clarke
Director

 

Hollin Developments Ltd

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 and Wales.

The address of its registered office is:
67 Brow Lane
Shelf
Halifax
HX3 7QL

These financial statements were authorised for issue by the Board on 30 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Prior period errors

A prior year adjustment has been made to reflect the fact that the company commenced trading on 1 July 2022 but dormant accounts were prepared for the year ended 30 April 2023 in error. Therefore all figures comprising last years accounts with the exception of cash in hand and allotted share capital in the balance sheet have been restated.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of rents and service charges.

The company recognises revenue when the amount of revenue can be measured reliably and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Hollin Developments Ltd

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

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

Freehold buildings

30 years straight line

Furniture, fittings and equipment

25% straight line

Long leasehold land

Over term of lease

Investment property

The holiday lodge is classified as an investment property, however due to the nature of the asset, it's value will be impaired over time. The directors' consider that the lodge has a finite usfeful life of 30 years and the property is therefore being depreciated on this basis in order to reflect the value of impairment. Periodic reviews will be carried out going forward in order to reassess the level of impairment.

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.

 

Hollin Developments Ltd

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

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Hollin Developments Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Long leasehold land
£

Total
£

Cost or valuation

At 1 May 2023

15,416

105,000

120,416

At 30 April 2024

15,416

105,000

120,416

Depreciation

At 1 May 2023

3,854

1,577

5,431

Charge for the year

3,854

1,577

5,431

At 30 April 2024

7,708

3,154

10,862

Carrying amount

At 30 April 2024

7,708

101,846

109,554

At 30 April 2023

11,562

103,423

114,985

5

Investment properties

2024
£

At 1 May

153,999

Fair value adjustments

(5,310)

At 30 April

148,689

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

6

Debtors

Current

2024
£

2023
£

Prepayments

880

932

 

880

932

 

Hollin Developments Ltd

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

(As restated)

2023
£

Due within one year

 

Loans and borrowings

8

231,310

257,060

Accruals and deferred income

 

15,802

9,575

 

247,112

266,635

8

Loans and borrowings

Current loans and borrowings

2024
£

(As restated)

2023
£

Other borrowings

231,310

257,060

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £306,930 (2023 - £311,110).

11

Related party transactions

Expenditure with and payables to related parties

2024

Key management
£

Amounts payable to related party

231,310

2023

Key management
£

Amounts payable to related party

257,060