Hydepark Road Developments Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: NI635975

		2024		2023
	Notes	£	£	£	£
CURRENT ASSETS
Stocks	4	3,301,775		3,802,698
Debtors	5	2,424,122		2,209,999
Cash at bank and in hand		188,910		749,629

		5,914,807		6,762,326
Creditors: Amounts Falling Due Within One Year	6	(3,460,848 )		(4,485,932 )

NET CURRENT ASSETS (LIABILITIES)			2,453,959		2,276,394

TOTAL ASSETS LESS CURRENT LIABILITIES			2,453,959		2,276,394

NET ASSETS			2,453,959		2,276,394

CAPITAL AND RESERVES
Called up share capital	7		8		8
Profit and Loss Account			2,453,951		2,276,386

SHAREHOLDERS' FUNDS			2,453,959		2,276,394

For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr John Stewart

Director

13/08/2025

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

Hydepark Road Developments Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI635975 . The registered office is Unit 1, 44-58 Dargan Crescent, Belfast, BT3 9JP.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of houses.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed the sales contract and the funds have been transferred to the company.

2.3. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.4. Taxation

Income tax expense represents the sum of the tax currently payable.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.

Current tax for the year is recognised in profit or loss.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2024	2023
Office and administration	2	2

	2	2

4. Stocks

	2024	2023
	£	£
Stock	3,301,775	3,802,698

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Hydepark Road Developments Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Prepayments and accrued income	240,503	37,349
VAT	4,494	8,525
Amounts owed by associates	2,179,125	2,164,125

	2,424,122	2,209,999

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Bank loans and overdrafts	14,786	338,868
Corporation tax	59,191	164,961
Other creditors	3,386,871	3,982,103

	3,460,848	4,485,932

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	8	8

8. Related Party Transactions

The 'amounts owed by associates' of £2,179,125 (2023: £2,164,125) is owed by Park Road Developments Limited, a company related to the directors and shareholders.

The total due to 'Other creditors' of£3,386,870 (2023: £3,982,103) is owed to various companies related to the directors and shareholders. None of these loans, which are interest free, will be repaid until the company is in a position to do so.

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