| REGISTERED NUMBER: |
| H.S.DEV & COMPANY LIMITED |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2024 |
| REGISTERED NUMBER: |
| H.S.DEV & COMPANY LIMITED |
| Unaudited Financial Statements |
| for the Year Ended 31 October 2024 |
| H.S.DEV & COMPANY LIMITED (REGISTERED NUMBER: 00916832) |
| Contents of the Financial Statements |
| for the year ended 31 October 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| H.S.DEV & COMPANY LIMITED |
| Company Information |
| for the year ended 31 October 2024 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| H.S.DEV & COMPANY LIMITED (REGISTERED NUMBER: 00916832) |
| Balance Sheet |
| 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Investment property | 5 |
| Current assets |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) | ( |
) |
| Creditors |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) | ( |
) |
| Net liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 9 |
| Capital redemption reserve | 10 |
| Retained earnings | 10 | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| 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. |
| H.S.DEV & COMPANY LIMITED (REGISTERED NUMBER: 00916832) |
| Balance Sheet - continued |
| 31 October 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| H.S.DEV & COMPANY LIMITED (REGISTERED NUMBER: 00916832) |
| Notes to the Financial Statements |
| for the year ended 31 October 2024 |
| 1. | Statutory information |
| H.S.Dev & Company Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments. |
| Turnover |
| Turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. |
| In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. |
| Tangible fixed assets and depreciation |
| Plant & Machinery | - | 25% reducing balance |
| Motor vehicles | - | 25% reducing balance |
| Fixtures and fittings | - | 25% reducing balance |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss. |
| Financial instruments |
| Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments. |
| Areas in the accounts which include judgements and estimates include: |
| Bad debt provision: There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
| Depreciation: The company's tangible assets are depreciated on a reducing balance basis over their useful economic lives. Management reviews the appropriateness of assets' useful economic lives at least annually and any changes could affect prospective depreciation rates and asset carrying values. |
| H.S.DEV & COMPANY LIMITED (REGISTERED NUMBER: 00916832) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 2. | Accounting policies - continued |
| 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. |
| Going concern |
| The company meets its day to day working capital requirements, through its ongoing overdraft facility and support of directors. On the basis of forecast future cashflows and the expected future trading of the company in the foreseeable future, the directors consider that the company will continue to operate within the facility currently agreed. However the margin of facilities over requirement is not large and inherently, there can be no certainty in relation to these matters. The financial statements do not include any adjustments that would result in a withdrawal of the overdraft facility. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Tangible fixed assets |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| Cost |
| At 1 November 2023 |
| Additions |
| At 31 October 2024 |
| Depreciation |
| At 1 November 2023 |
| Charge for year |
| At 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| H.S.DEV & COMPANY LIMITED (REGISTERED NUMBER: 00916832) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 5. | Investment property |
| Total |
| £ |
| Fair value |
| At 1 November 2023 |
| and 31 October 2024 |
| Net book value |
| At 31 October 2024 |
| At 31 October 2023 |
| The 2024 valuations were made by the directors, on an open market value for existing use basis. |
| 6. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| Both the bank overdraft and bank loan are secured by floating charge over the stock of the company and a fixed charge over the property of the company. The directors have also provided security for the loans in their personal capacity. |
| 8. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | 11,891 | 17,263 |
| 9. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary Shares | £1 | 5,000 | 5,000 |
| H.S.DEV & COMPANY LIMITED (REGISTERED NUMBER: 00916832) |
| Notes to the Financial Statements - continued |
| for the year ended 31 October 2024 |
| 10. | Reserves |
| Capital |
| Retained | redemption |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1 November 2023 | ( |
) | (1,000,506 | ) |
| Profit for the year |
| At 31 October 2024 | ( |
) | (848,541 | ) |
| 11. | Directors' advances, credits and guarantees |
| At the year end £1,928,727 (2023: £2,011,978) was due to the directors and close family. |
| 12. | Related party disclosures |
| Except for those disclosures in note 12 to the accounts, there are no related party transactions which qualify for disclosure in the year (2023 - none) |