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Registration number: 11263116

Hassett Homes Ltd

Unaudited Filleted Financial Statements

for the Period from 1 April 2023 to 29 March 2024

 

Hassett Homes Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Hassett Homes Ltd

Company Information

Director

Mr Jamie Blennerhassett

Registered office

17 Mann Island
Liverpool
L3 1BP

Accountants

G W Kelly & Company
Chartered Certified Accountants
3 Stadium Court
Plantation Road
Bromborough
Merseyside
CH62 3QG

 

Hassett Homes Ltd

(Registration number: 11263116)
Balance Sheet as at 29 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

53,697

51,760

Current assets

 

Debtors

5

7,039,982

6,357,999

Cash at bank and in hand

 

224,830

27,532

 

7,264,812

6,385,531

Creditors: Amounts falling due within one year

6

(1,609,360)

(898,638)

Net current assets

 

5,655,452

5,486,893

Total assets less current liabilities

 

5,709,149

5,538,653

Creditors: Amounts falling due after more than one year

6

(5,666,735)

(5,496,735)

Net assets

 

42,414

41,918

Capital and reserves

 

Called up share capital

100

100

Share premium reserve

30,000

30,000

Retained earnings

12,314

11,818

Shareholders' funds

 

42,414

41,918

For the financial period ending 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 March 2025
 

 

Hassett Homes Ltd

(Registration number: 11263116)
Balance Sheet as at 29 March 2024

.........................................
Mr Jamie Blennerhassett
Director

   
     
 

Hassett Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
17 Mann Island
Liverpool
L3 1BP

These financial statements were authorised for issue by the director on 27 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Hassett Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% per annum straight line

Computer Equipment

33% per annum straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Hassett Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 March 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 8 (2023 - 12).

 

Hassett Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

52,213

17,051

69,264

Additions

1,937

-

1,937

At 29 March 2024

54,150

17,051

71,201

Depreciation

At 1 April 2023

8,623

8,881

17,504

At 29 March 2024

8,623

8,881

17,504

Carrying amount

At 29 March 2024

45,527

8,170

53,697

At 31 March 2023

43,590

8,170

51,760

5

Debtors

Current

2024
£

2023
£

Trade debtors

15,439

15,439

Other debtors

7,024,543

6,342,560

 

7,039,982

6,357,999

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

645,242

611,420

Taxation and social security

361,083

119,839

Accruals and deferred income

44,641

44,641

Other creditors

558,394

122,738

1,609,360

898,638

 

Hassett Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 1 April 2023 to 29 March 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

5,666,735

5,496,735

Creditors include loans which are secured of £5,666,735 (2023 - £5,496,735).

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

5,666,735

5,496,735

8

Related party transactions

Director's remuneration

The director's remuneration for the period was as follows:

2024
£

2023
£

Remuneration

38,674

92,817

9

Parent and ultimate parent undertaking

The company's immediate parent is Hassett Holdings Ltd, incorporated in England & Wales.