Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-28false2022-03-01No description of principal activity44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06080089 2022-03-01 2023-02-28 06080089 2021-03-01 2022-02-28 06080089 2023-02-28 06080089 2022-02-28 06080089 2021-03-01 06080089 c:Director1 2022-03-01 2023-02-28 06080089 d:FurnitureFittings 2022-03-01 2023-02-28 06080089 d:FurnitureFittings 2023-02-28 06080089 d:FurnitureFittings 2022-02-28 06080089 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 06080089 d:FreeholdInvestmentProperty 2023-02-28 06080089 d:FreeholdInvestmentProperty 2022-02-28 06080089 d:CurrentFinancialInstruments 2023-02-28 06080089 d:CurrentFinancialInstruments 2022-02-28 06080089 d:Non-currentFinancialInstruments 2023-02-28 06080089 d:Non-currentFinancialInstruments 2022-02-28 06080089 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06080089 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 06080089 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 06080089 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 06080089 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 06080089 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 06080089 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 06080089 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 06080089 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 06080089 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 06080089 d:ShareCapital 2023-02-28 06080089 d:ShareCapital 2022-02-28 06080089 d:SharePremium 2023-02-28 06080089 d:SharePremium 2022-02-28 06080089 d:RevaluationReserve 2023-02-28 06080089 d:RevaluationReserve 2022-02-28 06080089 d:RetainedEarningsAccumulatedLosses 2023-02-28 06080089 d:RetainedEarningsAccumulatedLosses 2022-02-28 06080089 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 06080089 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 06080089 c:OrdinaryShareClass1 2022-03-01 2023-02-28 06080089 c:OrdinaryShareClass1 2023-02-28 06080089 c:OrdinaryShareClass1 2022-02-28 06080089 c:OrdinaryShareClass2 2022-03-01 2023-02-28 06080089 c:OrdinaryShareClass2 2023-02-28 06080089 c:OrdinaryShareClass2 2022-02-28 06080089 c:OrdinaryShareClass3 2022-03-01 2023-02-28 06080089 c:OrdinaryShareClass3 2023-02-28 06080089 c:OrdinaryShareClass3 2022-02-28 06080089 c:OrdinaryShareClass4 2022-03-01 2023-02-28 06080089 c:OrdinaryShareClass4 2023-02-28 06080089 c:OrdinaryShareClass4 2022-02-28 06080089 c:FRS102 2022-03-01 2023-02-28 06080089 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 06080089 c:FullAccounts 2022-03-01 2023-02-28 06080089 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06080089









H.O.T.I. PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
H.O.T.I. PROPERTIES LIMITED
REGISTERED NUMBER: 06080089

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
132
165

Investment property
 5 
12,600,000
12,600,000

  
12,600,132
12,600,165

Current assets
  

Debtors: amounts falling due within one year
 6 
3,000
2,096

Cash at bank and in hand
  
169,626
55,575

Creditors: amounts falling due within one year
 7 
(1,790,953)
(1,618,942)

Net current liabilities
  
 
 
(1,618,327)
 
 
(1,561,271)

Total assets less current liabilities
  
10,981,805
11,038,894

Creditors: amounts falling due after more than one year
 8 
(6,626,289)
(6,654,327)

Provisions for liabilities
  

Deferred tax
 10 
(40,188)
(40,188)

Net assets
  
4,315,328
4,344,379


Capital and reserves
  

Called up share capital 
 11 
600
600

Share premium account
  
3,941,436
3,941,436

Revaluation reserve
  
290,231
290,231

Profit and loss account
  
83,061
112,112

  
4,315,328
4,344,379


Page 1

 
H.O.T.I. PROPERTIES LIMITED
REGISTERED NUMBER: 06080089
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 November 2023.




O Mor
Director


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
H.O.T.I. PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

H.O.T.I. Properties Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered number is 06080089 and its registered office 34 Holders Hill Drive, Hendon, London, NW4 1NJ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents rental income receivable.  

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
H.O.T.I. PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, provided on the following basis:

Fixtures and fittings
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is 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. Changes in fair value are recognised in profit or loss.

Page 4

 
H.O.T.I. PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
H.O.T.I. PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Furniture and fittings

£



Cost


At 1 March 2022
2,427



At 28 February 2023

2,427



Depreciation


At 1 March 2022
2,262


Charge for the year on owned assets
33



At 28 February 2023

2,295



Net book value



At 28 February 2023
132



At 28 February 2022
165

Page 6

 
H.O.T.I. PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Investment property


Investment properties

£



Valuation


At 1 March 2022
12,600,000



At 28 February 2023
12,600,000

The 2023 valuations were made by by the directors of the Company, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
12,269,581
12,269,581


6.


Debtors

2023
2022
£
£


Prepayments and accrued income
3,000
2,096



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
41,322
44,180

Trade creditors
160,487
-

Corporation tax
1,155
19,362

Other creditors
1,546,929
1,535,440

Accruals and deferred income
41,060
19,960

1,790,953
1,618,942


Page 7

 
H.O.T.I. PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
6,626,289
6,654,327



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
41,322
44,180

Amounts falling due 1-2 years

Bank loans
41,322
44,180

Amounts falling due 2-5 years

Bank loans
4,503,781
4,553,678

Amounts falling due after more than 5 years

Bank loans
2,081,186
2,056,469

6,667,611
6,698,507


Bank loans are secured by way of fixed and floating charges over the assets and undertakings of the Company. 

Page 8

 
H.O.T.I. PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

10.


Deferred taxation




2023
2022


£

£






At beginning of year
40,188
30,543


Charged to profit or loss
-
9,645



At end of year
40,188
40,188

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment properties
40,188
40,188


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



75 (2022 - 75) Ordinary A shares of £1.00 each
75
75
75 (2022 - 75) Ordinary B shares of £1.00 each
75
75
225 (2022 - 225) Ordinary C shares of £1.00 each
225
225
225 (2022 - 225) Ordinary D shares of £1.00 each
225
225

600

600



12.


Related party transactions

Included within other creditors at the year end are amounts of £1,496,600 (2022 - £1,318,730) owed to the directors of the Company in respect of loans made to the Company.
Included within trade creditors are amounts of £160,487
 (2022 - £Nil) owed to the directors of the Company in respect of reimbursed costs.  

 
Page 9