REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st July 2022 |
for |
Cardwell Hill Developments Ltd |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31st July 2022 |
for |
Cardwell Hill Developments Ltd |
Cardwell Hill Developments Ltd (Registered number: 07689197) |
Contents of the Financial Statements |
for the Year Ended 31st July 2022 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Cardwell Hill Developments Ltd |
Company Information |
for the Year Ended 31st July 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Thorneloe House |
25 Barbourne Road |
Worcester |
Worcestershire |
WR1 1RU |
Cardwell Hill Developments Ltd (Registered number: 07689197) |
Abridged Balance Sheet |
31st July 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
Cardwell Hill Developments Ltd (Registered number: 07689197) |
Abridged Balance Sheet - continued |
31st July 2022 |
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 |
Cardwell Hill Developments Ltd (Registered number: 07689197) |
Notes to the Financial Statements |
for the Year Ended 31st July 2022 |
1. | STATUTORY INFORMATION |
Cardwell Hill Developments Ltd is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
Turnover is recognised when control is transferred to the customer, which is deemed to be when title of the property passes to the customer on legal completion. |
TANGIBLE FIXED ASSETS |
Plant and machinery | - |
Motor vehicles | - |
Office equipment | - |
GOVERNMENT GRANTS |
Government grants are recognised on the performance model. A grant that does not impose specified future performance-related conditions is recognised in income when the grant proceeds are received or receivable. A grant that imposes specified future performance-related conditions is recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability. |
STOCKS |
Stock of buildings under construction is initially measured at cost and then subsequently held at the lower of this initial amount and net realisable value. Costs comprises cost of acquiring land and property (including associated legal fees), direct construction materials, direct labour and those overheads that have been incurred in bringing stock of buildings under construction to their present condition. Net realisable value represents the estimated selling price less all estimated costs of completion and costs to be incurred in marketing and selling. |
Non-refundable land option payments are initially recognised in stock. They are reviewed regularly and written off when it is probable that the option will not be recognised. |
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 balance sheet date. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Cardwell Hill Developments Ltd (Registered number: 07689197) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2022 |
2. | ACCOUNTING POLICIES - continued |
HIRE PURCHASE AND LEASING COMMITMENTS |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st August 2021 |
Additions |
Disposals | ( |
) |
At 31st July 2022 |
DEPRECIATION |
At 1st August 2021 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31st July 2022 |
NET BOOK VALUE |
At 31st July 2022 |
At 31st July 2021 |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
2022 | 2021 |
£ | £ |
Bank loans |
Hire purchase contracts | 1,535 | 10,462 |
Bank loans are secured by way of fixed and floating charges over all trade and assets of the company. |
Hire purchase loans are secured by way of charges over the tangible fixed assets to which they relate. |
Cardwell Hill Developments Ltd (Registered number: 07689197) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2022 |
6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st July 2022 and 31st July 2021: |
2022 | 2021 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The balance will be repaid by 1 May 2023. |