IRIS Accounts Production v23.3.0.418 10655449 director 1.7.22 30.6.23 30.6.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106554492022-06-30106554492023-06-30106554492022-07-012023-06-30106554492021-06-30106554492021-07-012022-06-30106554492022-06-3010655449ns10:Originalns15:EnglandWales2022-07-012023-06-3010655449ns14:PoundSterlingns10:Original2022-07-012023-06-3010655449ns10:Originalns10:Director12022-07-012023-06-3010655449ns10:Original2022-07-012023-06-3010655449ns10:Original2023-06-3010655449ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-3010655449ns10:Originalns10:SmallEntities2022-07-012023-06-3010655449ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-3010655449ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-3010655449ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-3010655449ns10:Originalns10:FullAccounts2022-07-012023-06-3010655449ns10:Original2021-07-012022-06-3010655449ns10:Originalns10:RegisteredOffice2022-07-012023-06-3010655449ns10:Original2022-06-3010655449ns10:Originalns5:CurrentFinancialInstruments2023-06-3010655449ns10:Originalns5:CurrentFinancialInstruments2022-06-3010655449ns10:Originalns5:Non-currentFinancialInstruments2023-06-3010655449ns10:Originalns5:Non-currentFinancialInstruments2022-06-3010655449ns5:ShareCapitalns10:Original2023-06-3010655449ns5:ShareCapitalns10:Original2022-06-3010655449ns10:Originalns5:SharePremium2023-06-3010655449ns10:Originalns5:SharePremium2022-06-3010655449ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-3010655449ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-3010655449ns10:Original2022-06-3010655449ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-3010655449ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-3010655449ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-3010655449ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-06-3010655449ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-06-3010655449ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-06-3010655449ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-06-3010655449ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-06-3010655449ns5:Securedns10:Original2023-06-3010655449ns5:Securedns10:Original2022-06-30
REGISTERED NUMBER: 10655449 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

HIRUKO PROPERTIES LTD

HIRUKO PROPERTIES LTD (REGISTERED NUMBER: 10655449)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


HIRUKO PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: J A Smart





REGISTERED OFFICE: Unit 52.11 Woolyard
52 Bermondsey Street
London
SE1 3UD





REGISTERED NUMBER: 10655449 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

HIRUKO PROPERTIES LTD (REGISTERED NUMBER: 10655449)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 1,200,000 1,200,000

CURRENT ASSETS
Debtors 5 1,292,278 1,279,329
Cash at bank 233 162
1,292,511 1,279,491
CREDITORS
Amounts falling due within one year 6 (169,834 ) (100,822 )
NET CURRENT ASSETS 1,122,677 1,178,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,322,677

2,378,669

CREDITORS
Amounts falling due after more than one
year

7

(817,068

)

(826,958

)
NET ASSETS 1,505,609 1,551,711

CAPITAL AND RESERVES
Called up share capital 100,002 100,002
Share premium 2,699,000 2,699,000
Retained earnings (1,293,393 ) (1,247,291 )
SHAREHOLDERS' FUNDS 1,505,609 1,551,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 September 2023 and were signed by:





J A Smart - Director


HIRUKO PROPERTIES LTD (REGISTERED NUMBER: 10655449)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Hiruko Properties Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

Going concern
The company manages it cash flow as part of a group & is reliant on finance provided by other group companies. The director has reviewed the group finance facilities and the expected cash flow for the group and has a reasonable expectation that the company has adequate resources to continue to operate for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rent receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The fair value is based on a valuation carried out by the director at each accounting reference date.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets
Basic financial assets are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting its liabilities.

Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction.

Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Financial liabilities classified as payable within one year are not amortised.

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.

3. EMPLOYEES

The average number of employees during the year was NIL (2022 - NIL).

HIRUKO PROPERTIES LTD (REGISTERED NUMBER: 10655449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 1,200,000
Additions 13,804
Revaluations (13,804 )
At 30 June 2023 1,200,000
NET BOOK VALUE
At 30 June 2023 1,200,000
At 30 June 2022 1,200,000


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 1,288,978 1,276,029
Other debtors 3,300 3,300
1,292,278 1,279,329

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 8) 9,890 9,646
Amounts owed to group undertakings 68,143 -
Other creditors 91,801 91,176
169,834 100,822

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans (see note 8) 817,068 826,958

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 792,122 792,122

8. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,890 9,646

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,140 9,890

HIRUKO PROPERTIES LTD (REGISTERED NUMBER: 10655449)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. LOANS - continued
2023 2022
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 14,806 24,946

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 792,122 792,122

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 826,958 836,604

The bank loans are secured against legal debentures over all of the borrower's assets and undertakings and those of the group, and legal charges over the property included in investment property.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Urban Eye Properties Ltd, of which the registered office is Unit 52.11, Woolyard, Bermondsey Street, London, SE1 3UD.