COMPANY REGISTRATION NUMBER:
11066043
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 March 2024
Current assets
Debtors |
4 |
348,172 |
|
6,325 |
Cash at bank and in hand |
5,325 |
|
440,825 |
|
--------- |
|
--------- |
|
353,497 |
|
447,150 |
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
(
343,437) |
|
(
113,226) |
|
--------- |
|
--------- |
Net current assets |
|
10,060 |
333,924 |
|
|
-------- |
--------- |
Total assets less current liabilities |
|
10,060 |
333,924 |
|
|
-------- |
--------- |
Net assets |
|
10,060 |
333,924 |
|
|
-------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
6 |
|
5 |
5 |
Profit and loss account |
7 |
|
10,055 |
333,919 |
|
|
-------- |
--------- |
Shareholders funds |
|
10,060 |
333,924 |
|
|
-------- |
--------- |
|
|
|
|
|
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 comprehensive income has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
26 March 2025
, and are signed on behalf of the board by:
Company registration number:
11066043
Notes to the Financial Statements |
|
Year ended 31 March 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 2 Kingfisher House, Woodbrook Crescent, Radford Way, Billericay, Essex, CM12 0EQ.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Work in progress Work in progress represents property developments in progress and is measured at the lower of direct cost and estimated selling price less costs to completion and sale. Provision is made for any foreseeable losses where appropriate and the amount of any provision requires the exercise of management judgement.
Cash and cash equivalents
Cash and cash equivalents comprise cash in hand and deposits repayable on demand with any qualifying financial institution, less overdrafts from any qualifying financial institution repayable on demand together with short term investments. Deposits are repayable on demand if they can be withdrawn at any time without notice and without penalty or if a maturity or period of notice of not more than 24 hours or one working day has been agreed.
Revenue recognition
Turnover is recognised at the fair value of the consideration receivable for the sale of development properties during the year in the normal course of business.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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.
Financial assets:
Financial assets comprise cash at bank, short term investments, trade debtors, other debtors, and other loans. These are initially recorded at cost on the date they originate and are subsequently recorded at amortised cost under the effective interest method, if applicable. The company considers evidence of impairment for all individual trade and other debtors, and any resultant impairment is recognised in the Statement of Comprehensive Income.
Impairment of financial assets:
Impairment provisions are recognised when there is objective evidence that a financial asset or group of financial assets is impaired. Objective evidence includes significant financial difficulties of the counterparty, default or significant delays in payment. Impairment provisions represent the difference between the carrying amount of a financial asset and the value of the expected future cash receipts from that asset.
Financial liabilities:
Financial liabilities comprise other loans, trade creditors, other creditors and accruals and deferred income; these are initially recorded, and subsequently carried, at cost on the date they originate.
4.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
348,172 |
6,325 |
|
--------- |
------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
33,924 |
34,770 |
Amounts owed to group undertakings |
134,021 |
41,877 |
Accruals and deferred income |
1,100 |
– |
Corporation tax |
6,593 |
36,579 |
Other creditors |
167,799 |
– |
|
--------- |
--------- |
|
343,437 |
113,226 |
|
--------- |
--------- |
|
|
|
6.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
A Ordinary shares of £ 1 each |
3 |
3 |
– |
– |
B Ordinary shares of £ 1 each |
2 |
2 |
– |
– |
Ordinary shares of £– (2023 - £1) each |
– |
– |
5 |
5 |
|
---- |
---- |
---- |
---- |
|
5 |
5 |
5 |
5 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
7.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
8.
Controlling party
The company's ultimate parent undertaking is Hallmark Healthcare (Warrington) Limited. The company is registered in England and Wales.