Huxley Land Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06056100

Huxley Land Limited

Unaudited financial statements

31 March 2025

Huxley Land Limited

Statement of financial position

31 March 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	100,522	122,429
Investments	6	–	100
		---------	---------
		100,522	122,529

Current assets

Debtors	7	626,618	187,887
Cash at bank and in hand		435,806	72,885
		-----------	---------
		1,062,424	260,772

Creditors: Amounts falling due within one year	8	( 2,185,404)		( 1,434,873)
		-----------		-----------
Net current liabilities			( 1,122,980)		( 1,174,101)
			-----------		-----------
Total assets less current liabilities			( 1,022,458)		( 1,051,572)

Creditors: Amounts falling due after more than one year	9		( 22,475)		( 32,471)

Provisions

Taxation including deferred tax	( 16,904)	( 27,892)
	-----------	-----------
Net liabilities	( 1,061,837)	( 1,111,935)
	-----------	-----------

Capital and reserves

Called up share capital	11	1,000	1,000
Profit and loss account		( 1,062,837)	( 1,112,935)
		-----------	-----------
Shareholders deficit		( 1,061,837)	( 1,111,935)
		-----------	-----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the 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 financial statements for the year in question in accordance with section 476 ;

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

Huxley Land Limited

Statement of financial position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 8 December 2025 , and are signed on behalf of the board by:

D Huxley

Director

Company registration number: 06056100

Huxley Land Limited

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 78A High Street, Wimbledon, London, SW19 5EG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Going concern

The accounts have been prepared on the going concern basis despite the net liability position. The directors have reviewed post year end and forward looking information in making the going concern assessment and consider the company has adequate cash and resources to continue to operate and meet its liabilities as they fall due for the foreseeable future.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no estimates and assumptions that have a significant effect on the amounts recognised in the financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date.

Defined contribution pension plans

Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of employees during the year was 4 (2024: 4 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2024	118,438	112,998	231,436
Additions	30,000	–	30,000
Disposals	( 5,124)	( 44,227)	( 49,351)
	---------	---------	---------
At 31 March 2025	143,314	68,771	212,085
	---------	---------	---------
Depreciation
At 1 April 2024	51,557	57,450	109,007
Charge for the year	13,907	7,393	21,300
Disposals	( 834)	( 17,910)	( 18,744)
	---------	---------	---------
At 31 March 2025	64,630	46,933	111,563
	---------	---------	---------
Carrying amount
At 31 March 2025	78,684	21,838	100,522
	---------	---------	---------
At 31 March 2024	66,881	55,548	122,429
	---------	---------	---------

6. Investments

	Shares in participating interests
	£
Cost
At 1 April 2024	100
Revaluations	( 100)
	----
At 31 March 2025	–
	----
Impairment
At 1 April 2024 and 31 March 2025	–
	----

Carrying amount
At 31 March 2025	–
	----
At 31 March 2024	100
	----

7. Debtors

	2025	2024
	£	£
Trade debtors	420	–
Amounts owed by group undertakings	27,032	52,043
Prepayments and accrued income	10,461	9,008
Directors loan account	542,026	88,473
Other debtors	46,679	38,363
	---------	---------
	626,618	187,887
	---------	---------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	3,742	3,538
Trade creditors	372,052	249,371
Accruals and deferred income	509,618	353,524
Corporation tax	27,558	3,328
Social security and other taxes	132,495	21,343
Obligations under finance leases and hire purchase contracts	–	6,017
Other creditors	1,139,939	797,752
	-----------	-----------
	2,185,404	1,434,873
	-----------	-----------

Bank loans are unsecured.

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	22,475	26,218
Obligations under finance leases and hire purchase contracts	–	6,253
	-------	-------
	22,475	32,471
	-------	-------

Bank loans are unsecured.

10. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	–	6,017
Later than 1 year and not later than 5 years	–	6,253
	----	-------
	–	12,270
	----	-------

11. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	------	------	------	------

12. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	24,000	38,264
Later than 1 year and not later than 5 years	72,000	96,000
	-------	---------
	96,000	134,264
	-------	---------

13. Directors' advances, credits and guarantees

At the year end D Huxley and Mrs K Huxley owed the company £542,026 (2024: £88,473), being the balance on their joint directors' current account. The maximum amount overdrawn during the year was £585,226 (2024: £260,828).

14. Related party transactions

During the year the company undertook transactions with the following related party:

		2025	2024
		£	£

Furnishing Solutions Limited:

Loan balance owed from related party (interest free)		–	30,361

Murrell Holdings Limited:

Loan balance owed from related party (interest free)		27,032	21,682

During the year £7,502 of the loan with Furnishing Solutions Limited was waived.

15. Controlling party

The parent company is Murrell Holdings Limited, a company incorporated in England and Wales. Group accounts are not prepared.