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REGISTERED NUMBER: 12264061 (England and Wales)

















Hamlin Property Developers Limited

Financial Statements

for the Year Ended 31 October 2024






Hamlin Property Developers Limited (Registered number: 12264061)

Contents of the Financial Statements
for the year ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Hamlin Property Developers Limited

Company Information
for the year ended 31 October 2024







DIRECTORS: G J Hamlin
Miss K J Carter





REGISTERED OFFICE: 24 Cornwall Road
Dorchester
Dorset
DT1 1RX





REGISTERED NUMBER: 12264061 (England and Wales)





ACCOUNTANTS: Read Woodruff
Chartered Accountants
24 Cornwall Road
Dorchester
Dorset
DT1 1RX

Hamlin Property Developers Limited (Registered number: 12264061)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,640,000 1,220,000

CURRENT ASSETS
Debtors 5 7,071 4,323
Cash at bank 6,221 205,682
13,292 210,005
CREDITORS
Amounts falling due within one year 6 686,717 661,684
NET CURRENT LIABILITIES (673,425 ) (451,679 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

966,575

768,321

CREDITORS
Amounts falling due after more than one
year

7

(770,127

)

(613,542

)

PROVISIONS FOR LIABILITIES 9 (37,744 ) (25,966 )
NET ASSETS 158,704 128,813

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserves 10 119,523 110,697
Retained earnings 39,081 18,016
SHAREHOLDERS' FUNDS 158,704 128,813

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





G J Hamlin - Director


Hamlin Property Developers Limited (Registered number: 12264061)

Notes to the Financial Statements
for the year ended 31 October 2024


1. STATUTORY INFORMATION

Hamlin Property Developers 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 as modified by the revaluation of certain assets.

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

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.

Undistributable reserves
Whilst fair value gains on investment property are taken to the profit and loss account, they are not distributable as dividend to shareholders because the gain is unrealised. The company therefore adopts the policy of transferring the fair value adjustment net/inclusive of the deferred tax charge/credit to a separate account, 'undistributable reserves'.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 1,220,000
Additions 399,395
Revaluations 20,605
At 31 October 2024 1,640,000
NET BOOK VALUE
At 31 October 2024 1,640,000
At 31 October 2023 1,220,000

Hamlin Property Developers Limited (Registered number: 12264061)

Notes to the Financial Statements - continued
for the year ended 31 October 2024


4. INVESTMENT PROPERTY - continued

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2021 51,404
Valuation in 2022 68,980
Valuation in 2023 16,278
Valuation in 2024 20,605
Cost 1,482,733
1,640,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,482,733 1,083,338

Investment property was valued on a fair value basis on 31 October 2024 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 7,071 4,323

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 14,572 6,140
Taxation and social security 9,010 4,088
Other creditors 653,135 641,456
686,717 661,684

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 770,127 613,542

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 756,215 589,501

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 589,501

Mortgages are secured by charges created on 8 July 2022, 24 April 2023 and 1 December 2023 over the company's freehold properties.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Capital gains on investment property 37,744 25,966

Hamlin Property Developers Limited (Registered number: 12264061)

Notes to the Financial Statements - continued
for the year ended 31 October 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2023 25,966
Charge to Income Statement during year 11,778
Balance at 31 October 2024 37,744

10. RESERVES
Undistributable
reserves
£   
At 1 November 2023 110,697
Transfer unrealised gain/loss on investment
property to undistributable reserves

8,826


At 31 October 2024 119,523

Undistributable reserves represent the unrealised gains on carrying investment property at fair value less the deferred tax provision thereon; being unrealised, such amounts are not available to be distributed as dividend to shareholders.