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Registered number: 01747830










HITHER GREEN DEVELOPMENTS LIMITED








UNAUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
HITHER GREEN DEVELOPMENTS LIMITED
 
 
COMPANY INFORMATION


Director
Mrs S Davies 




Registered number
01747830



Registered office
7 The Close

Norwich

Norfolk

NR1 4DJ




Accountants
MA Partners LLP
Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ





 
HITHER GREEN DEVELOPMENTS LIMITED
 

CONTENTS



Page
Director's report
 
 
1
Accountants' report
 
 
2
Profit and loss account
 
 
3
Balance sheet
 
 
4 - 5
Statement of changes in equity
 
 
6
Notes to the financial statements
 
 
7 - 10


 
HITHER GREEN DEVELOPMENTS LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The director presents her report and the financial statements for the year ended 30 June 2024.

Director

The director who served during the year was:

Mrs S Davies 

Small companies note

In preparing this report, the director has taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
Mrs S Davies
Director

Date: 27 March 2025

Page 1

 
HITHER GREEN DEVELOPMENTS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HITHER GREEN DEVELOPMENTS LIMITED
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hither Green Developments Limited for the year ended 30 June 2024 which comprise the Profit and loss account, the Balance sheet, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Hither Green Developments Limited in accordance with the terms of our engagement letter dated 19 March 2024Our work has been undertaken solely to prepare for your approval the financial statements of Hither Green Developments Limited and state those matters that we have agreed to state to the director of Hither Green Developments Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hither Green Developments Limited and its director for our work or for this report. 

It is your duty to ensure that Hither Green Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hither Green Developments Limited. You consider that Hither Green Developments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Hither Green Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
7 The Close
Norwich
Norfolk
NR1 4DJ
27 March 2025
Page 2

 
HITHER GREEN DEVELOPMENTS LIMITED
 
 
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£
£

  

Turnover
 2.3 
571,994
581,438

Cost of sales
  
(278,766)
(316,219)

Gross profit
  
293,228
265,219

Administrative expenses
  
(1,544)
(1,525)

Operating profit
  
291,684
263,694

Tax on profit
  
(72,841)
(54,046)

Profit for the financial year
  
218,843
209,648

There are no items of other comprehensive income for 2024 or 2023 other than the profit for the yearAs a result, no separate Statement of comprehensive income has been presented.

The notes on pages 7 to 10 form part of these financial statements.

Page 3

 
HITHER GREEN DEVELOPMENTS LIMITED
REGISTERED NUMBER: 01747830

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
 4 
2,784,172
2,637,047

Debtors: amounts falling due within one year
 5 
82,192
215,993

Cash at bank and in hand
  
473,793
314,206

  
3,340,157
3,167,246

Creditors: amounts falling due within one year
 6 
(4,071,840)
(4,117,772)

Net current liabilities
  
 
 
(731,683)
 
 
(950,526)

Total assets less current liabilities
  
(731,683)
(950,526)

  

Net liabilities
  
(731,683)
(950,526)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(731,783)
(950,626)

  
(731,683)
(950,526)


Page 4

 
HITHER GREEN DEVELOPMENTS LIMITED
REGISTERED NUMBER: 01747830
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mrs S Davies
Director

Date: 27 March 2025

The notes on pages 7 to 10 form part of these financial statements.

Page 5

 
HITHER GREEN DEVELOPMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 July 2022
100
(1,160,274)
(1,160,174)


Comprehensive income for the year

Profit for the year
-
209,648
209,648



At 1 July 2023
100
(950,626)
(950,526)


Comprehensive income for the year

Profit for the year
-
218,843
218,843


At 30 June 2024
100
(731,783)
(731,683)


The notes on pages 7 to 10 form part of these financial statements.

Page 6

 
HITHER GREEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Hither Green Developments Limited is a private company limited by shares incorporated in England and Wales, registration number 01747830. The registered office is 7 The Close, Norwich, Norfolk, NR1 4DJ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on the going concern basis as the director has received assurance of the continued support of other companies within the group for a period of at least 12 months from the date of approval of these financial statements.

 
2.3

Turnover

Turnover comprises revenue recognised by the company from the disposal of real estate and moorings and service charge income, exclusive of Value Added Tax.  Revenue is recognised on an accruals basis covering the period for which rent is due under the terms of the lease or proceeds are due under the terms of an agreement. 

 
2.4

Current and deferred taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 7

 
HITHER GREEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Stocks

Stock is valued at the lower of cost and net realisable value. Cost includes direct costs. Net realisable value is based upon the directors estimate of the potential sales value of development property held.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are
Page 8

 
HITHER GREEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The Company has no employees other than the director, who did not receive any remuneration (2023 - £NIL).


4.


Stocks

2024
2023
£
£

Development property
2,784,172
2,637,047

2,784,172
2,637,047



5.


Debtors

2024
2023
£
£


Trade debtors
12,521
9,074

Amounts owed by group undertakings
45,600
109,862

Other debtors
16,720
52,133

Prepayments and accrued income
7,351
44,924

82,192
215,993


Page 9

 
HITHER GREEN DEVELOPMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
25,540
268,913

Amounts owed to group undertakings
3,685,949
3,537,935

Corporation tax
72,921
54,046

Other creditors
1,770
1,770

Accruals and deferred income
285,660
255,108

4,071,840
4,117,772



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


 
Page 10