Hardwood Developments Limited - Filleted accounts

Registered number

NI020240

Hardwood Developments Limited

Filleted Accounts

Year Ended

31 March 2026


Registered number:		NI020240
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		68,614			22,972

Current assets
Stocks and work in progress		-			88,000
Debtors	4	122,009			122,539
Cash at bank and in hand		99,566			91,633
		221,575			302,172

Creditors: amounts falling due within one year	5	(270,816)			(368,834)

Net current liabilities			(49,241)			(66,662)

Net assets/(liabilities)			19,373			(43,690)

Capital and reserves
Called up share capital			5,000			5,000
Profit and loss account			14,373			(48,690)

Shareholders' funds			19,373			(43,690)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Aidan Murdock
Director
Approved by the board on 15 September 2026

Hardwood Developments Limited
Notes to the Accounts
for the year ended 31 March 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	10% straight line
	Motor vehicles	20% straight line
	Fixtures and fittings	10% straight line
	Leased assets	20% straight line

	Stocks and work in progress
	Stock is valued at the lower of cost and net realisable value. Work in progress is valued a net saleable value in accordance with Accounting Standard UITF40.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. There were no assets held under finance leases at the balance sheet date.
	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			7		7


3	Tangible fixed assets
		Plant and machinery		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2025	50,541		25,717		76,258
	Additions	36,120		23,945		60,065
	Disposals	-		(8,432)		(8,432)
	At 31 March 2026	86,661		41,230		127,891

	Depreciation
	At 1 April 2025	40,354		12,932		53,286
	Charge for the year	7,077		7,346		14,423
	On disposals	-		(8,432)		(8,432)
	At 31 March 2026	47,431		11,846		59,277

	Net book value
	At 31 March 2026	39,230		29,384		68,614
	At 31 March 2025	10,187		12,785		22,972


4	Debtors			2026		2025
£					£

	Trade debtors			88,862		122,539
	Other debtors			33,147		-
				122,009		122,539


5	Creditors: amounts falling due within one year			2026		2025
£					£

	Trade creditors			79,383		205,820
	Other taxes and social security costs			2,970		18,956
	Other creditors			188,463		144,058
				270,816		368,834


6	Events after the reporting date
	There were no events after the year end which would necessitate a change in the financial statements.


7	Contingent liabilities
	There were no contingent liabilities as at 31st March 2026 of which the company was aware.

8	Transactions with directors

	The balance of the directors' account was zero as at 31st March 2026.

9	Related party transactions	2026		2025
£			£
	Murdock Hardwood Industries Ltd
	Related by common directorships
	Amount due from (to) Murdock Hardwood	(159,626)		(166,930)
	Industries Ltd

	Ashtree Investments Ltd
	Related by common directorships
	Amount due from (to) Ashtree Investments Ltd	-		12,480


10	Controlling party
	The controlling party has been identified as the board of directors acting as a unit.

11	Other information

	Hardwood Developments Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
	51 Rathfriland Road
	Newry
	Co. Down