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Registration number: 04695229

HGS Developments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

HGS Developments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Financial Statements

5 to 13

 

HGS Developments Ltd

Company Information

Directors

Mr S Taylor

Mrs V Taylor

Registered office

5 Dundry Way
Hedge End
Southampton
Hampshire
SO30 2FG

Accountants

Elysium
Chartered AccountantsUnit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

 

HGS Developments Ltd

(Registration number: 04695229)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

6

2,129

1,159

Investment property

7

520,000

650,000

Other financial assets

8

222,730

200,000

 

744,859

851,159

Current assets

 

Stocks

9

776

776

Debtors

10

165,141

130,553

Cash at bank and in hand

 

170,602

47,596

 

336,519

178,925

Creditors: Amounts falling due within one year

11

(25,819)

(16,953)

Net current assets

 

310,700

161,972

Total assets less current liabilities

 

1,055,559

1,013,131

Creditors: Amounts falling due after more than one year

11

(5,851)

(15,950)

Net assets

 

1,049,708

997,181

Capital and reserves

 

Called up share capital

12

100

100

Revaluation reserve

85,622

107,028

Retained earnings

963,986

890,053

Shareholders' funds

 

1,049,708

997,181

 

HGS Developments Ltd

(Registration number: 04695229)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 

.........................................
Mrs V Taylor
Director

 

HGS Developments Ltd

Statement of Changes in Equity for the Year Ended 31 March 2025

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 April 2024

100

107,028

890,053

997,181

Profit for the year

-

-

75,933

75,933

Other comprehensive income

-

(21,406)

-

(21,406)

Total comprehensive income

-

(21,406)

75,933

54,527

Dividends

-

-

(2,000)

(2,000)

At 31 March 2025

100

85,622

963,986

1,049,708

Share capital
£

Revaluation reserve
£

Profit and loss account
£

Total
£

At 1 April 2024

100

107,028

890,053

997,181

Profit for the year

-

-

75,933

75,933

Other comprehensive income

-

(21,406)

-

(21,406)

Total comprehensive income

-

(21,406)

75,933

54,527

Dividends

-

-

(2,000)

(2,000)

At 31 March 2025

100

85,622

963,986

1,049,708

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
5 Dundry Way
Hedge End
Southampton
Hampshire
SO30 2FG

These financial statements were authorised for issue by the Board on 12 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Investment property

Investment properties are carried at fair value which is derived from the current market prices for comparable real estate. Fair value is determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

404

387

Amortisation expense

-

5,000

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

50,000

50,000

At 31 March 2025

50,000

50,000

Amortisation

At 1 April 2024

50,000

50,000

At 31 March 2025

50,000

50,000

Carrying amount

At 31 March 2025

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

25,834

2,144

27,978

Additions

1,374

-

1,374

At 31 March 2025

27,208

2,144

29,352

Depreciation

At 1 April 2024

24,675

2,144

26,819

Charge for the year

404

-

404

At 31 March 2025

25,079

2,144

27,223

Carrying amount

At 31 March 2025

2,129

-

2,129

At 31 March 2024

1,159

-

1,159

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

7

Investment properties

2025
£

At 1 April

650,000

Disposals

(130,000)

At 31 March

520,000

Investment properties are stated at fair value following an assessment by the directors.

8

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2024

200,000

200,000

Fair value adjustments

22,730

22,730

At 31 March 2025

222,730

222,730

Impairment

Carrying amount

At 31 March 2025

222,730

222,730

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

9

Stocks

2025
£

2024
£

Other inventories

776

776

10

Debtors

Current

2025
£

2024
£

Trade debtors

2,735

-

Prepayments

8,314

3,437

Other debtors

154,092

127,116

 

165,141

130,553

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

11

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

14

10,648

10,648

Trade creditors

 

28

(82)

Taxation and social security

 

7,431

12

Accruals and deferred income

 

2,925

1,587

Other creditors

 

4,787

4,788

 

25,819

16,953

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

14

5,851

15,950

12

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

       

13

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

(21,406)

(21,406)

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

14

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

5,851

15,950

Current loans and borrowings

2025
£

2024
£

Bank borrowings

10,648

10,648

15

Related party transactions

The directors have loans from the company in the current year. The balance owing at 31 March 2025 was £154,083. (2024 £127,115)

 

HGS Developments Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

25,140

25,140