Registered number
08641425
HEXAGON PROPERTY DEVELOPMENTS LIMITED
Filleted Abridged Accounts
31 August 2024
HEXAGON PROPERTY DEVELOPMENTS LIMITED
Registered number: 08641425
Abridged Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 956 1,275
Investments 4 494,066 494,066
495,022 495,341
Current assets
Debtors 5 249,782 128,065
Cash at bank and in hand 6,344 35,625
256,126 163,690
Creditors: amounts falling due within one year (549,365) (451,430)
Net current liabilities (293,239) (287,740)
Total assets less current liabilities 201,783 207,601
Creditors: amounts falling due after more than one year (31,668) (37,500)
Provisions for liabilities (19,003) (19,003)
Net assets 151,112 151,098
Capital and reserves
Called up share capital 100 100
Profit and loss account - distributable reserves 69,998 69,984
Profit and loss account - non distributable reserves 81,014 81,014
Shareholder's funds 151,112 151,098
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mohomed Shabry Fuard
Director
Approved by the board on 2 December 2024
HEXAGON PROPERTY DEVELOPMENTS LIMITED
Notes to the Abridged Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Fixtures, fittings, tools and equipment 20% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Investment Property
Investment property is carried at fair value as determined by the board of directors annually, derived from the conveyable market values. Changes in fair value are recognised within the profit and loss.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Total Total
£ £
Cost
At 1 September 2023 2,975 2,975
Additions - -
At 31 August 2024 2,975 2,975
Depreciation
At 1 September 2023 1,700 1,700
Charge for the year 319 319
At 31 August 2024 2,019 2,019
Net book value
At 31 August 2024 956 956
4 Investments
Investments in
subsidiary Other
undertakings investments Total Total
£ £ £ £
Cost
At 1 September 2023 100 493,966 494,066 494,066
Additions - - - -
At 31 August 2024 100 493,966 494,066 494,066
Investment property
The fair value of the investment property, 1 Ninteenth road, Mitcham, as of 31st August 2019 was increased to £275,000 by the board of directors.
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company Country of registration Class Shares held
%
HPD Investments Limited UK Ordinary 100.00
5 Debtors 2024 2023
£ £
Amounts due after more than one year included in debtors 246,782 100,065
6 Related party transactions 2024 2023
£ £
HPD Investments Limited
Included in other debtors is the following amounts due from HPD Investments Limited
Other debtors 246,782 100,065
7 Taxation 2024 2023
£ £
UK corporation tax - -
Deferred tax 19,003 -
19,003 -
7 Controlling party
The Ultimate controlling party is MR S M Fuard.
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