Company Registration No. 10821130 (England and Wales)
HIGH HOPE PROPERTY LIMITED
for the year ended 31 March 2023
HIGH HOPE PROPERTY LIMITED
Contents
HIGH HOPE PROPERTY LIMITED
Company Information
for the year ended 31 March 2023
Directors
Mrs Jagruti Soni
Mr Nirav Mansukhbai Soni
Company Number
10821130 (England and Wales)
Registered Office
40 FOXTON ROAD HAMILTON
LEICESTER
LE5 1AY
ENGLAND
Accountants
BGS Accounting Limited
75 Exploration Drive
Leicester
LE4 5NU
HIGH HOPE PROPERTY LIMITED
Statement of financial position
as at 31 March 2023
Investment property
1,303,872
1,087,369
Cash at bank and in hand
4,693
9,352
Creditors: amounts falling due within one year
(59,330)
(78,579)
Net current liabilities
(54,415)
(61,573)
Total assets less current liabilities
1,249,457
1,025,796
Creditors: amounts falling due after more than one year
(1,192,697)
(1,006,921)
Called up share capital
2
2
Profit and loss account
56,758
18,873
Shareholders' funds
56,760
18,875
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2023 and were signed on its behalf by
Mr Nirav Mansukhbai Soni
Director
Company Registration No. 10821130
HIGH HOPE PROPERTY LIMITED
Notes to the Accounts
for the year ended 31 March 2023
HIGH HOPE PROPERTY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10821130. The registered office is 40 FOXTON ROAD HAMILTON, LEICESTER, LE5 1AY, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Fair value at 1 April 2022
1,087,369
At 31 March 2023
1,303,872
The investment property has not been professionally valued during the year. The property was initially included at cost, and the directors believe that the fair value of the property as at the year ended 31 March 2023 is not materially different to the cost.
Fair value will be reviewed by the directors on an annual basis and any movements in fair value will be treated in accordance with the applicable accounting standards.
HIGH HOPE PROPERTY LIMITED
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
Accrued income and prepayments
222
6,254
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
13,140
18,821
Trade creditors
6,277
1,001
Loans from directors
38,955
57,798
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
539,092
452,693
Other creditors
653,605
554,228
8
Transactions with related parties
Outstanding balance of amounts payables to Hamilton After School Club Limited was £54,007.96 and to High Hopes Day Nursery School Ltd was £599,598 as at 31st March 2023.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).