REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 |
FOR |
HAYLAND DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 |
FOR |
HAYLAND DEVELOPMENTS LIMITED |
HAYLAND DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00567150) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HAYLAND DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Railview Lofts |
19c Commercial Road |
Eastbourne |
East Sussex |
BN21 3XE |
HAYLAND DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00567150) |
BALANCE SHEET |
31 OCTOBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
HAYLAND DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00567150) |
BALANCE SHEET - continued |
31 OCTOBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Non-distributable reserves | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HAYLAND DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00567150) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
1. | STATUTORY INFORMATION |
Hayland Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Operating income |
This represents rental income receivable on investment properties, net of discounts and VAT. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year 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. |
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 year 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. |
HAYLAND DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00567150) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
2. | ACCOUNTING POLICIES - continued |
Investment properties |
Tangible fixed assets include freehold land and buildings which are held by the company for investment purposes and not for consumption within the business operations. |
These are classified as investment properties and are included in the financial statements at their open market value as shown in the fixed asset note. The directors consider that the time and expense involved in an external valuation of the investment properties is only merited when significant movements in value result from the completion of construction of particular properties or other circumstances. Accordingly, it is the directors' intention that properties under this heading will be valued externally at regular intervals. |
The valuations are adopted in the financial statements and surpluses and deficiencies arising are reflected in the revaluation reserve account, unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2023 |
Additions |
Disposals | ( |
) |
At 31 October 2024 |
DEPRECIATION |
At 1 November 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
HAYLAND DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00567150) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2023 |
Additions |
Revaluations | 145,000 |
At 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
Included in fair value of investment property is freehold land of £ 221,736 (2023 - £ 221,736 ) which is not depreciated. |
Fair value at 31 October 2024 is represented by: |
£ |
Valuation in 2024 | 2,115,225 |
Cost | 2,098,826 |
4,214,051 |
If investment properties had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 2,067,515 | 2,067,515 |
Investment properties were valued on an open market basis on 23 April 2024 by VAS Group . |
The revaluation in the year by VAS group accurately represents the fair value of the assets held by the company, with any additional movement in the year being further development work measured at cost. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
HAYLAND DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00567150) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 6,449 | 15,415 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
A Ordinary | £1 | 6 | 6 |
B Ordinary | £1 | 1 | 1 |
C Ordinary | £1 | 12 | 12 |
19 | 19 |
The "A", "B" and "C" Shares have equal voting rights and rank equally in all respects. |
HAYLAND DEVELOPMENTS LIMITED (REGISTERED NUMBER: 00567150) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2024 |
11. | RESERVES |
Non-distributable |
reserves |
£ |
At 1 November 2023 |
Revaluation | 108,750 |
At 31 October 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The directors have confirmed that the company has no ultimate controlling party. |