Registered number
06550477
Hamdon Gate Ltd
Unaudited Filleted Accounts
30 September 2024
Hamdon Gate Ltd
Registered number: 06550477
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,320,000 1,320,000
Current assets
Debtors 4 83,012 64,909
Cash at bank and in hand 217,683 244,036
300,695 308,945
Creditors: amounts falling due within one year 5 (140,664) (181,286)
Net current assets 160,031 127,659
Total assets less current liabilities 1,480,031 1,447,659
Creditors: amounts falling due after more than one year 6 (145,795) (145,795)
Provisions for liabilities (55,085) (55,085)
Net assets 1,279,151 1,246,779
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,279,149 1,246,777
Shareholder's funds 1,279,151 1,246,779
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.
M Small
Director
Approved by the board on 25 June 2025
Hamdon Gate Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The 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 rental income,revenue earned from the sale of goods and from the rendering of services. Rental income is recognised when the company is entitled to receive income based on the contractual agreement in force.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.
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:
Freehold buildings investment property see note below
Plant and machinery over 4 years
Investment property
Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis. Revaluations of such properties are undertaken by the director Mr M Small Chartered surveyor. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 (ie 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
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 1,320,000 12,339 1,332,339
Disposals - (12,339) (12,339)
At 30 September 2024 1,320,000 - 1,320,000
Depreciation
At 1 October 2023 - 12,339 12,339
On disposals - (12,339) (12,339)
At 30 September 2024 - - -
Net book value
At 30 September 2024 1,320,000 - 1,320,000
At 30 September 2023 1,320,000 - 1,320,000
4 Debtors 2024 2023
£ £
Trade debtors 10,623 -
Other debtors 72,389 64,909
83,012 64,909
Amounts due after more than one year included above 13,288 13,288
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 10,407 42,366
Other creditors 130,257 138,920
140,664 181,286
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 145,795 145,795
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 145,795 145,795
The loan is secured on one of the company's properties
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M Small
Interest free repayable on demand 48,571 48,571
48,571 - - 48,571
9 Related party transactions
Included in other creditors is a loan of £125,000 from a company under common control. The loan is repayable at 7 days notice and interest is charged at 1.85%
10 Controlling party
The ultimate controlling party is the director M Small.
11 Other information
Hamdon Gate Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Vine Office
Sciviers Lane
Lower Upham
Southampton
SO32 1HB
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