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REGISTERED NUMBER: 08560853 (England and Wales)



















HEMISPHERE HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






HEMISPHERE HOMES LIMITED (REGISTERED NUMBER: 08560853)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


HEMISPHERE HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr L Alvey
Mr N Alvey
Mrs R Alvey





REGISTERED OFFICE: 4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR





REGISTERED NUMBER: 08560853 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

HEMISPHERE HOMES LIMITED (REGISTERED NUMBER: 08560853)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 134,581 326,992
Investments 5 100 100
134,681 327,092

CURRENT ASSETS
Stocks 925,341 1,014,075
Debtors 6 366,712 30,260
Prepayments and accrued income 4,312 -
Cash at bank 17,789 128,202
1,314,154 1,172,537
CREDITORS
Amounts falling due within one year 7 650,559 698,065
NET CURRENT ASSETS 663,595 474,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

798,276

801,564

CREDITORS
Amounts falling due after more than one
year

8

(16,770

)

(24,129

)

ACCRUALS AND DEFERRED INCOME (1,750 ) -
NET ASSETS 779,756 777,435

CAPITAL AND RESERVES
Called up share capital 10 511,325 511,325
Capital redemption reserve 156,400 156,400
Retained earnings 112,031 109,710
SHAREHOLDERS' FUNDS 779,756 777,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

HEMISPHERE HOMES LIMITED (REGISTERED NUMBER: 08560853)

BALANCE SHEET - continued
30 JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





Mr L Alvey - Director


HEMISPHERE HOMES LIMITED (REGISTERED NUMBER: 08560853)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Hemisphere Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 3 ).

HEMISPHERE HOMES LIMITED (REGISTERED NUMBER: 08560853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery Totals
£    £    £    £   
COST
At 1 July 2023 371,067 12,027 5,040 388,134
Disposals (213,059 ) - - (213,059 )
At 30 June 2024 158,008 12,027 5,040 175,075
DEPRECIATION
At 1 July 2023 56,242 1,594 3,306 61,142
Charge for year 4,290 1,565 1,678 7,533
Eliminated on disposal (28,181 ) - - (28,181 )
At 30 June 2024 32,351 3,159 4,984 40,494
NET BOOK VALUE
At 30 June 2024 125,657 8,868 56 134,581
At 30 June 2023 314,825 10,433 1,734 326,992

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 100
NET BOOK VALUE
At 30 June 2024 100
At 30 June 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 185,000 -
Amounts owed by group undertakings 18,973 -
Other debtors 155,621 27,259
VAT 7,118 3,001
366,712 30,260

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 398,168 530,059
Trade creditors 17,676 6,269
Corporation tax 2,571 27,379
Other creditors 33,000 41,038
Directors' current accounts 197,244 91,570
Accruals and deferred income 1,900 1,750
650,559 698,065

HEMISPHERE HOMES LIMITED (REGISTERED NUMBER: 08560853)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 16,770 24,129

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 414,938 554,188

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
33 Ordinary A £1 33 33
67 Ordinary £1 67 67
511,225 Redeemable Shares £1 511,225 511,225
511,325 511,325

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
Mrs R Alvey and Mr N Alvey
Balance outstanding at start of year (91,278 ) (244,818 )
Amounts advanced 113,000 182,839
Amounts repaid (192,638 ) (29,299 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (170,916 ) (91,278 )

Mr L Alvey
Balance outstanding at start of year (291 ) (11,525 )
Amounts advanced 24,020 26,270
Amounts repaid (50,058 ) (15,036 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (26,329 ) (291 )