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Registration number: 3722072

Hemswell Court Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 October 2024

 

Hemswell Court Limited

(Registration number: 3722072)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

290,155

318,265

Current assets

 

Stocks

16,225

14,506

Debtors

5

25,265

26,330

Cash at bank and in hand

 

1,777

2,271

 

43,267

43,107

Creditors: Amounts falling due within one year

6

(273,484)

(220,925)

Net current liabilities

 

(230,217)

(177,818)

Total assets less current liabilities

 

59,938

140,447

Creditors: Amounts falling due after more than one year

6

(174,884)

(209,503)

Provisions for liabilities

(24,402)

(17,644)

Net liabilities

 

(139,348)

(86,700)

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

(139,548)

(86,900)

Shareholders' deficit

 

(139,348)

(86,700)

 

Hemswell Court Limited

(Registration number: 3722072)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 July 2025 and signed on its behalf by:
 


Mr W M Downing
Director

   
 

Hemswell Court Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

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

The address of its registered office is:
Hemswell Court
Lancaster Green
Hemswell Cliff
Gainsborough
Lincolnshire
DN21 5TQ

Registered number: 3722072

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

 

Hemswell Court Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Government grants

Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support with no future relared costs, is recognised as income in the period in which it becomes receivable.

Tax

The tax expense for the period comprises current and deferred 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 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property improvements

Over the remaining period of the lease

Furniture, fittings and equipment

15% per annum on written down value

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 services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price. 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.

 

Hemswell Court Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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.

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 at the transaction price.

Borrowings

Interest-bearing borrowings are recorded at fair value, net of transaction costs.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Hemswell Court Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 34 (2023 - 35).

4

Tangible assets

Furniture, fittings and equipment
 £

Leasehold property improvements
£

Total
£

Cost or valuation

At 1 November 2023

331,191

772,243

1,103,434

At 31 October 2024

331,191

772,243

1,103,434

Depreciation

At 1 November 2023

287,454

497,715

785,169

Charge for the year

6,563

21,547

28,110

At 31 October 2024

294,017

519,262

813,279

Carrying amount

At 31 October 2024

37,174

252,981

290,155

At 31 October 2023

43,737

274,528

318,265

5

Debtors

Current

2024
£

2023
£

Trade debtors

12,851

19,964

Other debtors

12,414

6,366

 

25,265

26,330

 

Hemswell Court Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

119,091

103,752

Trade payables

 

19,203

27,030

Social security and other taxes

 

44,895

42,145

Other payables

 

90,295

47,998

 

273,484

220,925

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

174,884

209,503

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

33,000

33,001

Bank overdrafts

66,007

62,667

Other borrowings

20,084

8,084

119,091

103,752

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

170,073

204,692

Other borrowings

4,811

4,811

174,884

209,503

 

Hemswell Court Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Bank borrowings

The carrying amount of bank loans at year end is £203,073 (2023 - £237,693). These are secured upon the assets of the company. The bank overdraft is repayable on demand.

2024
£

2023
£

Due after more than five years

73,073

87,692

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

200

200

200

200