Registered number
10590560
Hudsonrose Limited
Unaudited Filleted Accounts
for the year ended 31 January 2023
Hudsonrose Limited
Registered number: 10590560
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,415 2,003
Investment property 4 396,113 396,113
397,528 398,116
Current assets
Cash at bank and in hand 19,967 18,399
Creditors: amounts falling due within one year 5 (78,665) (114,078)
Net current liabilities (58,698) (95,679)
Total assets less current liabilities 338,830 302,437
Creditors: amounts falling due after more than one year 6 (320,179) (291,243)
Provisions for liabilities (269) (381)
Net assets 18,382 10,813
Capital and reserves
Called up share capital 100 100
Profit and loss account 18,282 10,713
Shareholders' funds 18,382 10,813
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.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
Lloyd Brett
Director
Approved by the board on 18 October 2023
Hudsonrose Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
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.
Provisions
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.
Investment Property
Investment properties are properties held to earn rentals and for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 2,939
At 31 January 2023 2,939
Depreciation
At 1 February 2022 936
Charge for the year 588
At 31 January 2023 1,524
Net book value
At 31 January 2023 1,415
At 31 January 2022 2,003
4 Investment Property 2023 2022
£ £
Cost
At 1 February 2022 396,113 396,113
At 31 January 2023 396,113 396,113
The director believe that as the properties were shown at fair value and therefore no revaluation is required. The directors have made key assumptions in the determination of the fair value of an investment property in respect of the state of the property market in the location where the property is situated and in respect of the range of reasonable fair value estimates of the asset.
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,207 1,207
Taxation and social security costs 1,887 2,414
Other creditors 75,571 110,457
78,665 114,078
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 320,179 291,243
7 Loans 2023 2022
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 287,250 281,383
Secured bank loans 287,250 281,383
The loans have a charge registered on the investment properties.
8 Other information
Hudsonrose Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
5 Glebe Place
Llanishen
Cardiff
CF14 5UY
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