REGISTERED NUMBER: 03253384 (England and Wales)

Hodgson Developments Limited

Unaudited Financial Statements for the Year Ended 31st March 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Hodgson

C L Hodgson

SECRETARY:

C L Hodgson

REGISTERED OFFICE:

rear of 21/23 Newland Avenue

Hull

East Yorkshire

HU5 3AG

REGISTERED NUMBER:

03253384 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Tangible assets

3

971

2,387

CURRENT ASSETS

Stocks

901,770

946,719

Debtors

4

74,624

67,616

Cash at bank

17,750

3,626

994,144

1,017,961

CREDITORS

Amounts falling due within one year

5

193,281

190,709

NET CURRENT ASSETS

800,863

827,252

TOTAL ASSETS LESS CURRENT LIABILITIES

801,834

829,639

CREDITORS

Amounts falling due after more than one year

6

523,500

566,050

NET ASSETS

278,334

263,589

CAPITAL AND RESERVES

Called up share capital

8

1,126

1,126

Share premium

9

19,775

19,775

Retained earnings

9

257,433

242,688

SHAREHOLDERS' FUNDS

278,334

263,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 20th December 2017 and were signed on its behalf by:

C L Hodgson - Director

1.	STATUTORY INFORMATION

Hodgson Developments Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company adopted FRS 102 1A in the current year and an explanation of how transition to FRS

102 1A has affected the reported financial position and performance is given in notes to these financial

statements. The date of transition to FRS102 was 1st April 2015.

The significant accounting policies applied in the preparation of these financial statements are set out

below. These policies have been consistently applied to all the years presented unless otherwise

stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Property sales are recognised on unconditional sale of contracts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

5 years

Stocks

Work in progress relates to property development and is valued at the lower of cost and net realisable

value.

Cost includes all land and building purchase costs, associate legal costs, direct development

expenditure and an appropriate proportion of fixed and variable overheads.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss

Account, 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.

3.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1st April 2016

and 31st March 2017

16,094

DEPRECIATION

At 1st April 2016

13,707

Charge for year

1,416

At 31st March 2017

15,123

NET BOOK VALUE

At 31st March 2017

971

At 31st March 2016

2,387

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,525

992

Other debtors

73,099

66,624

74,624

67,616

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

25,000

25,000

Trade creditors

149

3,557

Taxation and social security

13,081

8,726

Other creditors

155,051

153,426

193,281

190,709

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

523,500

566,050

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

423,500

466,050

7.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

548,500

591,050

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

563

Ordinary 'A'

£1

563

563

563

Ordinary 'B'

£1

563

563

1,126

1,126

9.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1st April 2016

242,688

19,775

262,463

Profit for the year

19,745

19,745

Dividends

(5,000

)

(5,000

)

At 31st March 2017

257,433

19,775

277,208

10.	RELATED PARTY DISCLOSURES

At 31 March 2017 the following balances were due from/(to)related parties.

2017

2016

£

£

Amounts due to related parties

147,575

142,528

Amounts due from related parties

67,690

62,615

11.	CONTROL RELATIONSHIPS

No one party controls the company by virtue of the fact that each shareholder has a beneficial interest

in 50% of the issued share capital of the company.

12.	FIRST YEAR ADOPTION

The company has adopted FRS 102 Section 1A for the first time in the year ended 31st March 2017.

The effect of transition from previous financial reporting framework to FRS 102 Section 1A is outlined

below:

a) Changes in accounting policies

There were no adjustments to previously reported accounting policies at the date of transition to FRS

102 Section 1A.

b) Reconciliation of equity shareholders' funds

There were no adjustments to previously reported equity shareholders' funds at the date of transition to

FRS 102 Section 1A, or at 31st March 2016.

c) Reconciliation of comparative period profit or loss

There were no adjustments to previously reported profit or loss in the comparative year.