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31/12/2022
2022-12-31
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No description of principal activities is disclosed
2022-01-01
Sage Accounts Production 21.0 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
03225146
2022-01-01
2022-12-31
03225146
2022-12-31
03225146
2021-12-31
03225146
2021-01-01
2021-12-31
03225146
2021-12-31
03225146
core:FurnitureFittingsToolsEquipment
2022-01-01
2022-12-31
03225146
bus:RegisteredOffice
2022-01-01
2022-12-31
03225146
bus:LeadAgentIfApplicable
2022-01-01
2022-12-31
03225146
bus:Director1
2022-01-01
2022-12-31
03225146
bus:Director2
2022-01-01
2022-12-31
03225146
bus:Director3
2022-01-01
2022-12-31
03225146
bus:CompanySecretary1
2022-01-01
2022-12-31
03225146
core:WithinOneYear
2022-12-31
03225146
core:WithinOneYear
2021-12-31
03225146
core:FurnitureFittingsToolsEquipment
2021-12-31
03225146
core:FurnitureFittingsToolsEquipment
2022-12-31
03225146
core:ShareCapital
2022-12-31
03225146
core:ShareCapital
2021-12-31
03225146
core:RetainedEarningsAccumulatedLosses
2022-12-31
03225146
core:RetainedEarningsAccumulatedLosses
2021-12-31
03225146
core:FurnitureFittingsToolsEquipment
2021-12-31
03225146
bus:Director1
2021-12-31
03225146
bus:Director1
2022-12-31
03225146
bus:Director1
2020-12-31
03225146
bus:Director1
2021-12-31
03225146
bus:Director1
2021-01-01
2021-12-31
03225146
bus:SmallEntities
2022-01-01
2022-12-31
03225146
bus:AuditExemptWithAccountantsReport
2022-01-01
2022-12-31
03225146
bus:FullAccounts
2022-01-01
2022-12-31
03225146
bus:SmallCompaniesRegimeForAccounts
2022-01-01
2022-12-31
03225146
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2022-01-01
2022-12-31
Company registration number:
03225146
Heddon Management Limited
Unaudited filleted financial statements
31 December 2022
HEDDON MANAGEMENT LIMITED
DIRECTORS AND OTHER INFORMATION
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Directors |
Mrs E J Keatley |
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Mr W F de Falbe |
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Mrs J A de Falbe |
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Secretary |
Mrs J A de Falbe |
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Company number |
03225146 |
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Registered office |
26-28 Southernhay East |
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Exeter |
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EX1 1NS |
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Accountants |
Westcotts |
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26-28 Southernhay East |
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Exeter |
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Devon |
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EX1 1NS |
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HEDDON MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2022
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2022 |
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2021 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
279 |
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372 |
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_______ |
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_______ |
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279 |
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372 |
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Current assets |
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Stocks |
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540,217 |
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533,707 |
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Debtors |
|
6 |
58,034 |
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56,836 |
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Cash at bank and in hand |
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178,484 |
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198,701 |
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|
_______ |
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_______ |
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776,735 |
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789,244 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
198,107) |
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(
197,639) |
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|
_______ |
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_______ |
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Net current assets |
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578,628 |
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591,605 |
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_______ |
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_______ |
Total assets less current liabilities |
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578,907 |
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591,977 |
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_______ |
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_______ |
Net assets |
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578,907 |
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591,977 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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646,002 |
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646,002 |
Profit and loss account |
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8 |
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(
67,095) |
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(
54,025) |
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_______ |
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_______ |
Shareholders funds |
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578,907 |
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591,977 |
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_______ |
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_______ |
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For the year ending 31 December 2022 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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
18 August 2023
, and are signed on behalf of the board by:
Mr W F de Falbe
Director
Company registration number:
03225146
HEDDON MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 26-28 Southernhay East, Exeter, EX1 1NS.
Principal activity
The principal activity of the company is that of house builders and developers.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover represents the total value of goods, excluding value added tax, provided to customers during the year, plus the value of work, excluding value added tax, performed during the year with respect to services.
Taxation
The taxation expense represents the aggregate amount current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible fixed assets are stated at cost less accumulated depreciation.
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:
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Fittings fixtures and equipment |
- |
25 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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 theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Principal activity
The principal activity of the company is that of house builders and developers.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2021:
2
).
5.
Tangible assets
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Fixtures, fittings and equipment |
Total |
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£ |
£ |
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Cost |
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At 1 January 2022 and 31 December 2022 |
1,400 |
1,400 |
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_______ |
_______ |
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Depreciation |
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At 1 January 2022 |
1,028 |
1,028 |
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Charge for the year |
93 |
93 |
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_______ |
_______ |
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At 31 December 2022 |
1,121 |
1,121 |
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_______ |
_______ |
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Carrying amount |
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At 31 December 2022 |
279 |
279 |
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_______ |
_______ |
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At 31 December 2021 |
372 |
372 |
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_______ |
_______ |
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6.
Debtors
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2022 |
2021 |
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£ |
£ |
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Other debtors |
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58,034 |
56,836 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
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2022 |
2021 |
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£ |
£ |
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Trade creditors |
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- |
28 |
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Accruals and deferred income |
|
60,051 |
58,864 |
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Other creditors |
|
138,056 |
138,747 |
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_______ |
_______ |
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198,107 |
197,639 |
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_______ |
_______ |
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8.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
9.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2022 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Directors |
41,824 |
735 |
42,559 |
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_______ |
_______ |
_______ |
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2021 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Directors |
50,985 |
(
9,161) |
41,824 |
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_______ |
_______ |
_______ |
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On loans exceeding £10,000, interest is charged at the HMRC official rate on the entire loan.
10.
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the continued support from the company's directors. If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets as current assets. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
11.
Illegal dividend
Last year dividends were paid out of the company in excess of the profits available for distribution. The directors expect to remedy this in the post year end period. If the company were to go into liquidation this may become repayable by the shareholders.