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REGISTERED NUMBER: 01697099 (England and Wales)















HJW (DEVELOPMENTS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






HJW (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 01697099)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 8


HJW (DEVELOPMENTS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: H J Waumsley
Mrs J Waumsley
Mrs M L Barron





SECRETARY: Mrs J Waumsley





REGISTERED OFFICE: 110 Keddington Road
Louth
Lincolnshire
LN11 0BL





REGISTERED NUMBER: 01697099 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Oxley House
Lincoln Way
Louth
Lincolnshire
LN11 0LS

HJW (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 01697099)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 26,866 30,762
Investment properties 5 907,500 1,067,078
934,366 1,097,840

CURRENT ASSETS
Debtors 6 258,830 235,284
Cash at bank 633,370 587,054
892,200 822,338
CREDITORS
Amounts falling due within one year 7 28,470 65,456
NET CURRENT ASSETS 863,730 756,882
TOTAL ASSETS LESS CURRENT LIABILITIES 1,798,096 1,854,722

CREDITORS
Amounts falling due after more than one year 8 (202,764 ) (202,764 )

PROVISIONS FOR LIABILITIES (71,604 ) (69,665 )
NET ASSETS 1,523,728 1,582,293

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 208,024 199,987
Retained earnings 11 1,315,604 1,382,206
SHAREHOLDERS' FUNDS 1,523,728 1,582,293

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

HJW (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 01697099)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 and authorised for issue by the Board of Directors and authorised for issue on 23 April 2025 and were signed on its behalf by:





H J Waumsley - Director


HJW (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 01697099)

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

1. STATUTORY INFORMATION

HJW (Developments) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents amounts receivable for goods and services net of VAT and trade discounts.

Revenue is recognised on contracts in accordance with Financial Reporting Standard 5 'Reporting the substance of transactions: Application Note G Revenue Recognition' where the company has obtained a right to consideration. Turnover recognised in this manner is based on an assessment of the fair value of the goods and services provided at the balance sheet date as a proportion of the total value of the contract. Provision is made against unbilled amounts on those contracts where the right to receive payment is contingent on factors outside the control of the company. Unbilled revenue is included in debtors.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

The investment property revaluation reserve is not amortised in line with the properties to which it relates.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

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

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


HJW (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 01697099)

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

2. ACCOUNTING POLICIES - continued
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 33,169 9,941 3,756 23,278 70,144
Additions - 499 2,003 - 2,502
Disposals - - (773 ) - (773 )
At 30 April 2024 33,169 10,440 4,986 23,278 71,873
DEPRECIATION
At 1 May 2023 11,967 9,005 2,382 16,028 39,382
Charge for year 3,317 359 434 1,813 5,923
Eliminated on disposal - - (298 ) - (298 )
At 30 April 2024 15,284 9,364 2,518 17,841 45,007
NET BOOK VALUE
At 30 April 2024 17,885 1,076 2,468 5,437 26,866
At 30 April 2023 21,202 936 1,374 7,250 30,762

HJW (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 01697099)

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

5. INVESTMENT PROPERTIES
Total
£   
FAIR VALUE
At 1 May 2023 1,067,078
Disposals (170,294 )
Revaluations 10,716
At 30 April 2024 907,500
NET BOOK VALUE
At 30 April 2024 907,500
At 30 April 2023 1,067,078

The historical cost of these properties was £630,134 (2023: £800,428). No depreciation has been provided in line with the company's accounting policies, as set out on page 5.

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2008 6,000
Valuation in 2009 29,274
Valuation in 2021 181,798
Valuation in 2023 49,578
Valuation in 2024 10,716
Cost 630,134
907,500

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 630,134 800,428

Investment properties were valued on an open market basis on 30 April 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 26,332 26,332
Other debtors 232,498 208,952
258,830 235,284

Debtors include an amount of £26,332 (2023: £26,332) which may be due after more than one year. The amount receivable is variable and is based on a percentage of the proceeds of the sale of properties. There is no specified date of sale. On the grounds of prudence this value has not been increased to reflect the increase in house prices since the date of the agreement.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 525 456
Taxation and social security 26,161 63,800
Other creditors 1,784 1,200
28,470 65,456

HJW (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 01697099)

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

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 202,764 202,764

9. SECURED DEBTS

At the year end the company's bankers held the following securities;

The company has given an unlimited guarantee to Barclays Bank plc in respect of HJW (Holdings) Limited, the ultimate parent company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 May 2023 1,382,206 199,987 1,582,193
Deficit for the year (5,605 ) (5,605 )
Dividends (60,997 ) (60,997 )
Revaluation movement in year - 10,716 10,716
Deferred tax adjustment - (2,679 ) (2,679 )
At 30 April 2024 1,315,604 208,024 1,523,628

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
H J Waumsley
Balance outstanding at start of year 46,066 6,631
Amounts advanced 22,289 61,323
Amounts repaid (5,016 ) (21,888 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 63,339 46,066

The director's loan account is unsecured and repayable on demand. Interest has been charged at HM Revenue and Customs' official rate of interest.

13. RELATED PARTY DISCLOSURES

Included within creditors due after one year is £202,764 (2023: £202,764) which relates to HJW (Holdings) Limited, the ultimate parent company.

Other debtors are in respect of amounts due from Mrs T Waumsley of £55,555 (2023: £56,332) and Mr M Waumsley of £53,498 (2023: £52,320) shareholders of the company.

During the year dividends totalling £60,997 were paid to HJW (Holdings) Limited, the parent company.

HJW (DEVELOPMENTS) LIMITED (REGISTERED NUMBER: 01697099)

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

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr H J Waumsley , the director, by virtue of his majority shareholding in HJW (Holdings) Limited.