2022-03-012023-02-282023-02-28false11188086Hempstead House 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Hempstead House Limited

Registered Number
11188086
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

Hempstead House Limited
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

Mandeep Singh Binning
Antonis Demetri
Antonis Theori
Nicholas Theori

Registered Address

C/O Nicholas Peters & Co 2nd Floor
10-12 Bourlet Close
London
W1W 7BR

Place of Business

Olive Tree

472A Larkshall Road

Higham's Park

London

E4 9HH


Registered Number

11188086 (England and Wales)
Hempstead House Limited
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets100100
Tangible assets15,579,86913,574,116
15,579,96913,574,216
Current assets
Debtors51,743,1161,477,511
Cash at bank and on hand141,24369,837
1,884,3591,547,348
Creditors amounts falling due within one year6(4,009,448)(2,259,928)
Net current assets (liabilities)(2,125,089)(712,580)
Total assets less current liabilities13,454,88012,861,636
Creditors amounts falling due after one year(21,373,842)(18,905,484)
Net assets(7,918,962)(6,043,848)
Capital and reserves
Called up share capital100100
Profit and loss account(7,919,062)(6,043,948)
Shareholders' funds(7,918,962)(6,043,848)
The financial statements were approved and authorised for issue by the Board of Directors on 31 October 2023, and are signed on its behalf by:
Mandeep Singh Binning
Director
Registered Company No. 11188086
Hempstead House Limited
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Turnover policy
Turnover represents the net value of the rent received as per rental agreements.
Property, plant and equipment policy
The valuation of the property has been carried out by the directors and it reflects the fair market value as at balance sheet date.
Investment property policy
Investment Properties are stated at fair market valuation. Surplus or deficit arising on the revaluation are transferred to the profit and loss account.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
4.Employee information

20232022
Average number of employees during the year00
5.Debtors

2023

2022

££
Other debtors1,674,0501,473,645
Prepayments and accrued income69,0663,866
Total1,743,1161,477,511
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.
6.Creditors within one year

2023

2022

££
Trade creditors / trade payables422,07431,123
Other creditors1,451,812838,500
Accrued liabilities and deferred income2,135,5621,390,305
Total4,009,4482,259,928
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.