REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
HO PROPERTY 5 LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
HO PROPERTY 5 LIMITED |
HO PROPERTY 5 LIMITED (REGISTERED NUMBER: 13455431) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HO PROPERTY 5 LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
BANKERS: |
63/67 Terminus Road |
Eastbourne |
BN21 3NE |
HO PROPERTY 5 LIMITED (REGISTERED NUMBER: 13455431) |
ABRIDGED BALANCE SHEET |
30 JUNE 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
HO PROPERTY 5 LIMITED (REGISTERED NUMBER: 13455431) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Ho Property 5 Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on the going concern basis the director having agreed to continue to support the company. |
Turnover |
Turnover represents net invoiced rental income as adjusted for accrued income, excluding VAT. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
The company's investment property is held for long-term investment and is included in the Balance Sheet at open market value. The surplus or deficit on revaluation of freehold property is transferred to the investment property revaluation reserve which is a departure from Financial Reporting Standard 102. |
Depreciation is not provided in respect of investment property. |
Rental income |
Rents received are calculated on the accruals basis, net of VAT. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HO PROPERTY 5 LIMITED (REGISTERED NUMBER: 13455431) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 July 2022 |
Disposals | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
The company disposed of part of 5 Cavendish Street, Ulverston during the year by granting a 125 year lease to WPA Trustees Ltd for £125,000. The company will pay minimal rent for the duration of the lease. |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.23 | 30.6.22 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
HO PROPERTY 5 LIMITED (REGISTERED NUMBER: 13455431) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
7. | RELATED PARTY DISCLOSURES |
During the year So Legal Ltd, a company controlled by Mr H Ovaisi, loaned the company £148,750 (2022: £161,875) |
During the year HO Property 4 Ltd, a company controlled by Mr H Ovaisi, loaned the company £1,000 (2022: Nil) |
During the year HO Property 3 Ltd, a company controlled by Mr H Ovaisi, loaned the company £5,986 (2022: Nil) |
During the year 8 Cornfield Terrace Ltd, a company controlled by Mr H Ovaisi, loaned the company £2,150 (2022: £2,150) |
HO Property 6 Ltd, a company controlled by Mr H Ovaisi, loaned the company £22,500 (2022: £Nil) |
HOHO Properties Ltd, a company controlled by Mr H Ovaisi, loaned the company £54,500 ( 2022: £ Nil) |
HO Property 2 Ltd, a company controlled by Mr H Ovaisi, loaned the company £750 (2022: £Nil) |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr H Ovaisi. |