Company registration number 14260080 (England and Wales)
Hollins Homes (Macclesfield) Limited
Unaudited financial statements
For the year ended 30 April 2024
Hollins Homes (Macclesfield) Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
Hollins Homes (Macclesfield) Limited
Balance sheet
As at 30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
3,603,061
1,875,681
Debtors
3
32,750
223,003
Cash at bank and in hand
45,334
17,864
3,681,145
2,116,548
Creditors: amounts falling due within one year
4
(3,805,826)
(2,147,467)
Net current liabilities
(124,681)
(30,919)
Capital and reserves
Called up share capital
5
1,769
1,769
Profit and loss reserves
(126,450)
(32,688)
Total equity
(124,681)
(30,919)

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 31 January 2025 and are signed on its behalf by:
Mrs L Goodman
Director
Company registration number 14260080 (England and Wales)
Hollins Homes (Macclesfield) Limited
Statement of changes in equity
For the year ended 30 April 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 27 July 2022
-
0
-
0
-
Period ended 30 April 2023:
Loss and total comprehensive income
-
(32,688)
(32,688)
Issue of share capital
5
1,769
-
1,769
Balance at 30 April 2023
1,769
(32,688)
(30,919)
Year ended 30 April 2024:
Loss and total comprehensive income
-
(93,762)
(93,762)
Balance at 30 April 2024
1,769
(126,450)
(124,681)
Hollins Homes (Macclesfield) Limited
Notes to the financial statements
For the year ended 30 April 2024
- 3 -
1
Accounting policies
Company information

Hollins Homes (Macclesfield) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 3, First Floor, Victoria Court, Bexton Road, Knutsford, Cheshire, WA16 0PF.

1.1
Reporting period

The company was incorporated on 27 July 2022. The comparative accounts cover the period from incorporation on 27 July 2022 to 30 April 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The company was formed to carry out a single housing development and will cease trading once all the houses on the site are sold. The company acquired the land for this development in the previous financial period and began construction work. The company also entered into a development loan facility agreement for the development of the site.

 

The current position is that all houses have been either sold, reserved or released for sale. In addition to the loan facility, the company is also reliant on related parties for financial support and amounts due in this respect will not be called for repayment before all third party liabilities have been settled.

 

The directors believe that given the above circumstances the company has adequate resources to meet its liabilities to the conclusion of the housing project. On this basis the directors consider it appropriate to prepare the financial statements on a going concern basis.

1.4
Turnover

Revenue from the sale of houses is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on legal completion), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Stocks

Land and property acquired in the course of development is recorded at cost.

 

Work in progress is valued as cost of labour, materials, and other associated direct overheads of the development.

 

Costs are released from stock and work in progress upon legal completion of sale.

Hollins Homes (Macclesfield) Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
32,750
223,003

Other debtors includes an amount due from Hollins Homes Limited of £nil (2023: £218,673).

4
Creditors: amounts falling due within one year
2024
2023
£
£
Other borrowings
2,158,702
559,255
Trade creditors
134,750
-
0
Other creditors
966,791
965,791
Accruals and deferred income
545,583
622,421
3,805,826
2,147,467

Other borrowings represent a loan from Homes England. The loan is secured by fixed and floating charges over the assets of the company.

 

Other creditors includes £965,791 (2023: £965,791) due to Hollins Strategic Land LLP.

Hollins Homes (Macclesfield) Limited
Notes to the financial statements (continued)
For the year ended 30 April 2024
- 5 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,769
1,769
1,769
1,769
6
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

Purchases
Purchases
2024
2023
£
£
Other related parties
2,032,060
808,438
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