His Estate Limited 11814744 false 2021-03-01 2022-02-28 2022-02-28 The principal activity of the company is a property investment company. Digita Accounts Production Advanced 6.30.9574.0 true 11814744 2021-03-01 2022-02-28 11814744 2022-02-28 11814744 bus:OrdinaryShareClass1 bus:OtherShareType 2022-02-28 11814744 core:CurrentFinancialInstruments 2022-02-28 11814744 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 11814744 core:Non-currentFinancialInstruments 2022-02-28 11814744 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 11814744 bus:SmallEntities 2021-03-01 2022-02-28 11814744 bus:AuditExemptWithAccountantsReport 2021-03-01 2022-02-28 11814744 bus:FullAccounts 2021-03-01 2022-02-28 11814744 bus:SmallCompaniesRegimeForAccounts 2021-03-01 2022-02-28 11814744 bus:RegisteredOffice 2021-03-01 2022-02-28 11814744 bus:Director1 2021-03-01 2022-02-28 11814744 bus:OrdinaryShareClass1 bus:OtherShareType 2021-03-01 2022-02-28 11814744 bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 11814744 countries:EnglandWales 2021-03-01 2022-02-28 11814744 2021-02-28 11814744 2020-02-29 2021-02-28 11814744 2021-02-28 11814744 bus:OrdinaryShareClass1 bus:OtherShareType 2021-02-28 11814744 core:CurrentFinancialInstruments 2021-02-28 11814744 core:CurrentFinancialInstruments core:WithinOneYear 2021-02-28 11814744 core:Non-currentFinancialInstruments 2021-02-28 11814744 core:Non-currentFinancialInstruments core:AfterOneYear 2021-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11814744

His Estate Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2022

 

His Estate Limited

(Registration number: 11814744)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Investment property

4

82,500

82,500

Current assets

 

Debtors

5

-

11,000

Cash at bank and in hand

 

19,035

1,375

 

19,035

12,375

Creditors: Amounts falling due within one year

6

(11,754)

(11,262)

Net current assets

 

7,281

1,113

Total assets less current liabilities

 

89,781

83,613

Creditors: Amounts falling due after more than one year

6

(82,500)

(82,500)

Net assets

 

7,281

1,113

Capital and reserves

 

Called up share capital

7

1

1

Profit and loss account

7,280

1,112

Shareholders' funds

 

7,281

1,113

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 11 August 2022
 

.........................................
Andrea Smith
Director

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
54 Bootham
York
YO30 7XZ
United Kingdom

These financial statements were authorised for issue by the director on 11 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal 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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from current market prices for comparable real estate deterimined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Investment properties

2022
£

At 1 March

82,500

At 28 February

82,500

The property was valued as at 1 May 2019 by J H Walter at its original purchase price.

5

Debtors

2022
£

2021
£

Trade debtors

-

11,000

-

11,000

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

1,447

261

Accruals and deferred income

5,309

6,001

Other creditors

4,998

5,000

11,754

11,262

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

82,500

82,500

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

82,500

82,500

Other borrowings

Other borrowings is denominated in £ sterling with a nominal interest rate of 3.1%, and the final instalment is due on 10 April 2039. The carrying amount at year end is £82,500 (2021 - £82,500).

No asset is pledged as security for the loan.