REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
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HOLLYFIELD DEVELOPMENTS LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
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FOR |
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HOLLYFIELD DEVELOPMENTS LIMITED |
HOLLYFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04163219) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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HOLLYFIELD DEVELOPMENTS LIMITED |
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COMPANY INFORMATION |
for the year ended 31 March 2021 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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BANKERS: |
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20 Corporation Street |
Blackpool |
Lancashire |
FY1 1EL |
HOLLYFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04163219) |
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BALANCE SHEET |
31 March 2021 |
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2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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HOLLYFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04163219) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2021 |
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1. | STATUTORY INFORMATION |
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Hollyfield Developments Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Work in progress |
Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. No element of profit is included in the valuation of work in progress. |
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Taxation |
Taxation for the year comprises current and deferred 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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Prepayments |
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HOLLYFIELD DEVELOPMENTS LIMITED (REGISTERED NUMBER: 04163219) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2021 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other loans |
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Trade creditors |
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Tax |
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VAT | 10,371 | 4,506 |
Directors' loan accounts | 22,174 | 21,373 |
Accruals and deferred income |
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6. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Other loans - 1-2 years |
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Other loans - 2-5 years |
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Other loans more 5yrs instal |
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Directors' loan accounts | 332,468 | 360,006 |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Other loans more 5yrs instal | 231,833 | 263,003 |
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7. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by two of its directors, S J Smith and M C Brook, who each control 50% of the issued share capital. |