Hot Pie Property Ltd 12442082 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the letting and operating of rental property Digita Accounts Production Advanced 6.30.9574.0 true true 12442082 2022-03-01 2023-02-28 12442082 2023-02-28 12442082 bus:OrdinaryShareClass1 2023-02-28 12442082 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 12442082 core:Non-currentFinancialInstruments 2023-02-28 12442082 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 12442082 core:FurnitureFittingsToolsEquipment 2023-02-28 12442082 bus:SmallEntities 2022-03-01 2023-02-28 12442082 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 12442082 bus:FullAccounts 2022-03-01 2023-02-28 12442082 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 12442082 bus:RegisteredOffice 2022-03-01 2023-02-28 12442082 bus:Director1 2022-03-01 2023-02-28 12442082 bus:Director2 2022-03-01 2023-02-28 12442082 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 12442082 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 12442082 core:FurnitureFittings 2022-03-01 2023-02-28 12442082 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 12442082 countries:EnglandWales 2022-03-01 2023-02-28 12442082 2022-02-28 12442082 core:FurnitureFittingsToolsEquipment 2022-02-28 12442082 2021-03-01 2022-02-28 12442082 2022-02-28 12442082 bus:OrdinaryShareClass1 2022-02-28 12442082 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 12442082 core:Non-currentFinancialInstruments 2022-02-28 12442082 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 12442082 core:FurnitureFittingsToolsEquipment 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 12442082

Hot Pie Property Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Hot Pie Property Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Hot Pie Property Ltd

Company Information

Directors

James Alexander Adam

Mr Alvin Sooben

Registered office

12 Old Forge Close
Watford
WD25 7BU

Accountants

Waite Financial Ltd
167-169 Great Portland Street
5th Floor
London
W1W 5PF

 

Hot Pie Property Ltd

(Registration number: 12442082)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

77

106

Investment property

5

119,474

119,474

 

119,551

119,580

Current assets

 

Cash at bank and in hand

 

912

2,330

Creditors: Amounts falling due within one year

6

(42,940)

(40,785)

Net current liabilities

 

(42,028)

(38,455)

Total assets less current liabilities

 

77,523

81,125

Creditors: Amounts falling due after more than one year

6

(79,480)

(79,480)

Net (liabilities)/assets

 

(1,957)

1,645

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

(1,959)

1,643

Shareholders' (deficit)/funds

 

(1,957)

1,645

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Hot Pie Property Ltd

(Registration number: 12442082)
Balance Sheet as at 28 February 2023 (continued)

Approved and authorised by the Board on 28 November 2023 and signed on its behalf by:
 

James Alexander Adam
Director

Mr Alvin Sooben
Director

 

Hot Pie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
12 Old Forge Close
Watford
WD25 7BU
England

These financial statements were authorised for issue by the Board on 28 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Hot Pie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Hot Pie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

145

145

At 28 February 2023

145

145

Depreciation

At 1 March 2022

39

39

Charge for the year

29

29

At 28 February 2023

68

68

Carrying amount

At 28 February 2023

77

77

At 28 February 2022

106

106

5

Investment properties

2023
£

At 1 March

119,474

At 28 February

119,474

There has been no valuation of investment property by an independent valuer.

 

Hot Pie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,507

750

Other creditors

41,433

40,035

42,940

40,785

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

79,480

79,480

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

Hot Pie Property Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023 (continued)

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

79,480

79,480

Borrowings comprise interest-only mortgage funds advanced to finance the purchase of investment property in the period. Accordingly, the entirety of the loan balance has been classified as due after more than one year in the accounts.