Company registration number 08673016 (England and Wales)
HART DEVELOPMENT AND CONSTRUCTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HART DEVELOPMENT AND CONSTRUCTION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
HART DEVELOPMENT AND CONSTRUCTION LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
74,783
54,165
Current assets
Debtors
4
1,405,378
753,888
Cash at bank and in hand
6,961
56,376
1,412,339
810,264
Creditors: amounts falling due within one year
5
(1,063,798)
(508,928)
Net current assets
348,541
301,336
Total assets less current liabilities
423,324
355,501
Creditors: amounts falling due after more than one year
6
(284,870)
(350,344)
Net assets
138,454
5,157
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
138,254
4,957
Total equity
138,454
5,157
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 25 June 2025
Mr J Thomas
Director
Company registration number 08673016 (England and Wales)
HART DEVELOPMENT AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information
Hart Development And Construction Limited is a private company limited by shares incorporated in England and Wales. The registered office is Birches, Hall Road, Rochford, Essex, England, SS4 1NX.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax plus the value of ongoing services for long term contracts, recognised by reference to the stage of completion.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
10% on reducing balance
Computers
33% on cost
Motor vehicles
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities, including debtors, creditors and bank balances. Basic short term financial assets are measured at the transaction price, less any impairment and basic short term financial liabilities are measured at the transaction price.
Other financial liabilities, including loans, are measured initially and subsequently at fair value, net of transaction costs.
1.5
Taxation
The tax expense represents the sum of the tax currently payable.
HART DEVELOPMENT AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7
Leases
As lessee
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
6
6
HART DEVELOPMENT AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
87,044
Additions
48,803
Disposals
(15,750)
At 31 March 2024
120,097
Depreciation and impairment
At 1 April 2023
32,879
Depreciation charged in the year
21,951
Eliminated in respect of disposals
(9,516)
At 31 March 2024
45,314
Carrying amount
At 31 March 2024
74,783
At 31 March 2023
54,165
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,229,235
738,469
Corporation tax recoverable
73,877
Other debtors
102,266
15,419
1,405,378
753,888
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,648
Trade creditors
882,291
403,469
Corporation tax
23,083
4,586
Other taxation and social security
29,336
20,091
Other creditors
119,088
70,134
1,063,798
508,928
HART DEVELOPMENT AND CONSTRUCTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,500
21,852
Other creditors
272,370
328,492
284,870
350,344