REGISTERED NUMBER: 01403587 (England and Wales)

HANNICK HOMES & DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH APRIL 2025

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mr N F Cleverley

Miss H M Cleverley

SECRETARY:

Miss H M Cleverley

REGISTERED OFFICE:

Dammas House

Dammas Lane

Old Town

SWINDON

Wiltshire

SN1 3EF

REGISTERED NUMBER:

01403587 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

BANKERS:

Handelsbanken Plc

Stella Building

Windmill Hill Business Park

Whitehill Way

Swindon

SN5 6NX

FIXED ASSETS

Tangible assets

4

134,387

153,064

Investment property

5

8,545,000

8,243,500

8,679,387

8,396,564

CURRENT ASSETS

Stocks

7,125,377

9,447,659

Debtors

6

1,130,527

3,756,154

Cash at bank and in hand

8,018,382

3,877,723

16,274,286

17,081,536

CREDITORS

Amounts falling due within one year

7

2,041,781

4,817,050

NET CURRENT ASSETS

14,232,505

12,264,486

TOTAL ASSETS LESS CURRENT LIABILITIES

22,911,892

20,661,050

PROVISIONS FOR LIABILITIES

9

745,013

674,018

NET ASSETS

22,166,879

19,987,032

CAPITAL AND RESERVES

Called up share capital

10

30,000

30,000

Retained earnings

11

22,136,879

19,957,032

SHAREHOLDERS' FUNDS

22,166,879

19,987,032

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th December 2025 and were signed on its behalf by:

Mr N F Cleverley - Director

1.	STATUTORY INFORMATION

Hannick Homes & Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01403587

Registered office: Dammas House, Dammas Lane, Old Town, Swindon, Wiltshire SN1 3EF

The presentation currency of the financial statements is the Pound Sterling (£) rounded to the nearest pound.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine the basis of the fair value of the investment property using the directors knowledge of the market and estimate of the rental multiple.

- Determine the period of useful economic life and any residual value of all tangible fixed assets order to write off the value of each asset over that period.

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of all balances on a balance by balance basis.

- Review work in progress in regards to the stage of completion, in order to assess the point in which turnover is recognised.

- Determine an appropriate provision for obsolete and slow moving stocks by assessing the net realisable value of all stock lines on a line by line basis.

- Determine an appropriate provision for contractual maintenance on previous property sales.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stock and work in progress

Stock is valued at the lower of cost and net realisable value and represents commercial units that are being rented out.

Work in progress is valued at the amount chargeable on a contract by contract basis, based on the level of completion of the job. The profit element of the contract is recognised to the extent that the ultimate profitability of the contract is reasonably certain.

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st May 2024

100,000

189,478

289,478

Additions

-

3,154

3,154

Disposals

-

(7,323

)

(7,323

)

At 30th April 2025

100,000

185,309

285,309

DEPRECIATION

At 1st May 2024

-

136,414

136,414

Charge for year

-

21,194

21,194

Eliminated on disposal

-

(6,686

)

(6,686

)

At 30th April 2025

-

150,922

150,922

NET BOOK VALUE

At 30th April 2025

100,000

34,387

134,387

At 30th April 2024

100,000

53,064

153,064

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st May 2024

8,243,500

Revaluations

301,500

At 30th April 2025

8,545,000

NET BOOK VALUE

At 30th April 2025

8,545,000

At 30th April 2024

8,243,500

Fair value at 30th April 2025 is represented by:

£

Valuation in 2012

27,691

Valuation in 2014

147,692

Valuation in 2015

301,633

Valuation in 2018

2,189,714

Valuation in 2019

(211,902

)

Valuation in 2021

591,079

Valuation in 2023

75,000

Valuation in 2024

116,000

Valuation in 2025

301,500

Cost

5,006,593

8,545,000

Investment property has been valued at fair value by the directors using their knowledge of the open market and an estimate of the rental multiple.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,584

3,145,292

Other debtors

1,126,943

610,862

1,130,527

3,756,154

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

21,610

1,995,882

Amounts owed to group undertakings

15,867

266,364

Taxation and social security

324,473

280,597

Other creditors

1,679,831

2,274,207

2,041,781

4,817,050

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Trade creditors

-

1,943,096

The bank holds the following assets as security:

The company has provided a debenture dated 28.03.2008.

Legal Mortgage over Eastcott House, 4 High Street, Swindon

Legal Mortgage over Little London Court, Swindon

Legal Mortgage over Parsonage Farm, Highworth, Swindon

Legal Mortgage over the land at Hopton Industrial Park, Devizes

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

7,988

12,368

Deferred tax on capital gains

737,025

661,650

745,013

674,018

Deferred

tax

£

Balance at 1st May 2024

674,018

Provided during year

70,995

Balance at 30th April 2025

745,013

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

30,000

Ordinary

£1

30,000

30,000

11.

RESERVES

Included within retained earnings is £2,801,382 (2024: £2,575,257) which is undistributable. This amount represents the difference between the fair value at the reporting date and the cost at initial recognition of the investment property, after taking into account any relevant deferred tax liability.