Humberstone Road Developments Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 10166943 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Humberstone Road Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J P Buckingham

S C Nugent

R K Odedra

Mrs H R Odedra

N R L Wood

REGISTERED OFFICE:

25 Hampstead Avenue

Mildenhall

Bury St. Edmunds

Suffolk

IP28 7AS

REGISTERED NUMBER:

10166943 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

CURRENT ASSETS

Stocks

3,600,000

6,011,665

Debtors

5

39,758

5,013

Cash at bank

62,764

37,712

3,702,522

6,054,390

CREDITORS

Amounts falling due within one year

6

4,963,446

6,174,572

NET CURRENT LIABILITIES

(1,260,924

)

(120,182

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,260,924

)

(120,182

)

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

(1,260,926

)

(120,184

)

SHAREHOLDERS' FUNDS

(1,260,924

)

(120,182

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

N R L Wood - Director

1.	STATUTORY INFORMATION

Humberstone Road Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

These financial statements have been prepared on a going concern basis. The company currently has net liabilities due to losses caused by a trading loss in the year and administrative expenses in past years. The company has the continued support of the shareholders, directors and finance providers and the directors expect the remaining stock to be sold at a profit. The directors are therefore of the opinion that the going concern basis is appropriate.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all purchase costs of the land and building, and work done to date. Borrowing costs relating to the finance of the project during the build phase have also been held in work in progress.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the balance sheet date.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in the income statement.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

39,758

5,013

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

1,693,310

2,930,000

Amounts owed to participating interests

3,217,974

3,206,922

Other creditors

52,162

37,650

4,963,446

6,174,572

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

1,693,310

2,930,000

Secure Trust Bank PLC holds two fixed and floating charges, created on 10 December 2019 on the company's assets, including a legal mortgage over 75, 77 and 79 Humberstone Road, Cambridge CB4 1JD.

A guarantee of £1,450,000 has also been given by NGB Construction Limited to Secure Trust Bank.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

1

Ordinary

1

Ordinary 'A'

1

2