Company registration number 8973825 (England and Wales)
HEDSOR PROPERTY MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
HEDSOR PROPERTY MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
HEDSOR PROPERTY MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
218
Investment properties
4
975,000
975,000
975,000
975,218
Current assets
Debtors
5
887
975
Cash at bank and in hand
2,680
5,226
3,567
6,201
Creditors: amounts falling due within one year
6
(767,098)
(789,876)
Net current liabilities
(763,531)
(783,675)
Total assets less current liabilities
211,469
191,543
Provisions for liabilities
(3,512)
(3,512)
Net assets
207,957
188,031
Capital and reserves
Called up share capital
100
100
Fair value reserve
7
94,491
94,491
Profit and loss reserves
113,366
93,440
Total equity
207,957
188,031

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HEDSOR PROPERTY MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 8 November 2023 and are signed on its behalf by:
J Turvey
Director
Company Registration No. 8973825
HEDSOR PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Hedsor Property Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suites B & D, Burnham Yard, Beaconsfield, Bucks, United Kingdom, HP9 2JH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents rents receivable for the year.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
25% on cost
Computers
33% on cost
1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HEDSOR PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2022 and 31 March 2023
4,070
1,691
5,761
Depreciation and impairment
At 1 April 2022
4,070
1,473
5,543
Depreciation charged in the year
-
0
218
218
At 31 March 2023
4,070
1,691
5,761
Carrying amount
At 31 March 2023
-
0
-
0
-
0
At 31 March 2022
-
0
218
218
4
Investment property
2023
£
Fair value
At 1 April 2022 and 31 March 2023
975,000
HEDSOR PROPERTY MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
4
Investment property
(Continued)
- 5 -

The investment property was valued on an open market basis on 31 March 2023 by the director, J Turvey.

If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2023
2022
£
£
Cost
876,997
876,997
Accumulated depreciation
-
-
Carrying amount
876,997
876,997
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
887
975
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
4,725
4,053
Other creditors
762,373
785,823
767,098
789,876
7
Fair value reserve
2023
2022
£
£
At the beginning and end of the year
94,491
94,491
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