HDR Development Limited
|
Registered number: |
10743508
|
Balance Sheet |
as at 31 March 2022
|
|
Notes |
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|
2022 |
|
|
2021 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
5,280,203 |
|
|
5,280,203 |
|
Current assets |
Cash at bank and in hand |
|
|
248,889 |
|
|
130,143 |
|
Creditors: amounts falling due within one year |
4 |
|
(860,751) |
|
|
(1,546,858) |
|
Net current liabilities |
|
|
|
(611,862) |
|
|
(1,416,715) |
|
Total assets less current liabilities |
|
|
|
4,668,341 |
|
|
3,863,488 |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(1,670,774) |
|
|
(935,427) |
|
|
|
Net assets |
|
|
|
2,997,567 |
|
|
2,928,061 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
2,997,467 |
|
|
2,927,961 |
|
Shareholders' funds |
|
|
|
2,997,567 |
|
|
2,928,061 |
|
|
|
|
|
|
|
|
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.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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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.
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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.
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|
|
|
|
M J Kanbi |
Director |
Approved by the board on 26 July 2022
|
|
HDR Development Limited
|
Notes to the Accounts |
for the year ended 31 March 2022
|
|
|
1 |
Accounting policies |
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Basis of preparation |
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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).
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Turnover |
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Turnover is measured at the fair value of the rents received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from property management and development net of discounts and VAT.
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Investments |
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Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. The methods and significant assumptions used to acertain the fair value at the balance sheet date and fair value movement included in the profit for the year are as follows:
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Properties are valued using RICS open market valuation on freehold basis, conducted by Anderson Wilde & Harris, Chartered Surveyors. |
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Taxation |
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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.
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|
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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|
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate.
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|
|
2 |
Employees |
2022 |
|
2021 |
Number |
Number |
|
|
Average number of persons employed by the company |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 April 2021 |
5,280,203 |
|
At 31 March 2022 |
5,280,203 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2022 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2022 |
5,280,203 |
|
At 31 March 2021 |
5,280,203 |
|
The properties were revalued in March 2017 by Mr H Hirani Bsc (Hons) MRICS and his team, from Anderson Wilde & Harris. The valuations were based on recent market values achieved on comparable properties in the immediate vicinity. |
|
|
4 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
£ |
£ |
|
|
Trade creditors |
- |
|
70,819 |
|
Taxation and social security costs |
16,773 |
|
2,487 |
|
Other creditors |
843,978 |
|
1,473,552 |
|
|
|
|
|
|
860,751 |
|
1,546,858 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
£ |
£ |
|
|
Bank loans |
1,670,774 |
|
935,427 |
|
|
|
|
|
|
|
|
|
|
6 |
Controlling party |
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The company is a wholly owned subsidiary of Exkanbi Limited, a company registered in England and Wales.
|
7 |
Other information |
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HDR Development Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
75A Christchurch Avenue London |
|
London |
|
NW6 7NX |