Caseware UK (AP4) 2023.0.135 2023.0.135 2023-02-282023-02-28false2022-03-01The principal activity of the company is that of property investment and generating residential property income.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.11truetrue 08899163 2022-03-01 2023-02-28 08899163 2021-03-01 2022-02-28 08899163 2023-02-28 08899163 2022-02-28 08899163 c:Director1 2022-03-01 2023-02-28 08899163 c:RegisteredOffice 2022-03-01 2023-02-28 08899163 d:CurrentFinancialInstruments 2023-02-28 08899163 d:CurrentFinancialInstruments 2022-02-28 08899163 d:Non-currentFinancialInstruments 2023-02-28 08899163 d:Non-currentFinancialInstruments 2022-02-28 08899163 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 08899163 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 08899163 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 08899163 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 08899163 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 08899163 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 08899163 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 08899163 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 08899163 d:ShareCapital 2023-02-28 08899163 d:ShareCapital 2022-02-28 08899163 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 08899163 d:RetainedEarningsAccumulatedLosses 2023-02-28 08899163 d:RetainedEarningsAccumulatedLosses 2022-02-28 08899163 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 08899163 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-02-28 08899163 c:OrdinaryShareClass1 2022-03-01 2023-02-28 08899163 c:OrdinaryShareClass1 2023-02-28 08899163 c:OrdinaryShareClass1 2022-02-28 08899163 c:FRS102 2022-03-01 2023-02-28 08899163 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 08899163 c:FullAccounts 2022-03-01 2023-02-28 08899163 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 08899163 d:Right-of-useInvestmentProperty 2022-03-01 2023-02-28 08899163 d:Right-of-useInvestmentProperty 2023-02-28 08899163 d:Right-of-useInvestmentProperty 2022-02-28 08899163 d:OtherDeferredTax 2023-02-28 08899163 d:OtherDeferredTax 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08899163









HUCKLE PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
HUCKLE PROPERTY LIMITED
 
 
COMPANY INFORMATION


Director
A W Humphreys 




Registered number
08899163



Registered office
97 Elgin Crescent

London

W11 2JF




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
HUCKLE PROPERTY LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
HUCKLE PROPERTY LIMITED
REGISTERED NUMBER: 08899163

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note

Fixed assets
  

Investment property
 4 
6,989,336
6,803,141

  
6,989,336
6,803,141

Current assets
  

Debtors: amounts falling due within one year
 5 
8,122
24,895

Cash at bank and in hand
 6 
17,224
2,966

  
25,346
27,861

Creditors: amounts falling due within one year
 7 
(4,090,596)
(3,606,921)

Net current liabilities
  
 
 
(4,065,250)
 
 
(3,579,060)

Total assets less current liabilities
  
2,924,086
3,224,081

Creditors: amounts falling due after more than one year
 8 
(2,196,457)
(2,363,206)

Provisions for liabilities
  

Deferred tax
 11 
(419,076)
(419,076)

  
 
 
(419,076)
 
 
(419,076)

Net assets
  
308,553
441,799


Capital and reserves
  

Called up share capital 
 12 
117
117

Profit and loss account
 13 
308,436
441,682

  
308,553
441,799


Page 1

 
HUCKLE PROPERTY LIMITED
REGISTERED NUMBER: 08899163
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The director considers 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 director acknowledges his 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 profit and loss account 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 by: 




A W Humphreys
Director

Date: 23 February 2024

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

Page 2

 
HUCKLE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Huckle Property Limited is a private company, limited by shares, incorporated and domiciled in England and Wales with registration number of 08899163. The registered office is 97 Elgin Crescent, London, W11 2JF.

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

Going concern

The Ukraine conflict and cost inflation factors may create significant operational and financial pressures on the company. Having considered the contingency plans in place and having reviewed updated cashflow forecasts and facilities available, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and hence considers the adoption of the going concern basis in preparing these financial statements is appropriate.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
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.

 
2.5

Foreign currency translation

Functional and presentation currency

Page 3

 
HUCKLE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.5
Foreign currency translation (continued)

The company's functional and presentational currency is Euros.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
HUCKLE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.8

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.

  
2.9

Investment property

Investment property is carried at fair value determined annually by the director or external valuers 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.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

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.

Page 5

 
HUCKLE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Investment property


Investment property




Valuation


At 1 March 2022
6,803,141


Additions at cost
186,195



At 28 February 2023
6,989,336

The director considers €6,989,336 to be a fair reflection of the investment property's value as at 28 February 2023. 






Page 6

 
HUCKLE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022


Other debtors
-
15,419

Prepayments and accrued income
8,122
9,476

8,122
24,895



6.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
17,224
2,966



7.


Creditors: Amounts falling due within one year

2023
2022

Bank loans (Note 9)
164,821
189,483

Trade creditors
6,724
38,942

Other creditors
3,865,554
3,311,327

Accruals and deferred income
53,497
67,169

4,090,596
3,606,921



8.


Creditors: Amounts falling due after more than one year

2023
2022

Bank loans (Note 9)
2,196,457
2,363,206


Page 7

 
HUCKLE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022

Amounts falling due within one year

Bank loans
164,821
189,483


164,821
189,483


Amounts falling due 2-5 years

Bank loans
750,543
568,448


750,543
568,448

Amounts falling due after more than 5 years

Bank loans
1,445,914
1,794,758

1,445,914
1,794,758

2,361,278
2,552,689



10.


Financial instruments

2023
2022

Financial assets


Financial assets measured at fair value through profit or loss
17,224
2,966




Financial assets measured at fair value through profit or loss comprise cash at bank.

Page 8

 
HUCKLE PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

11.


Deferred taxation




2023








At beginning of year
419,076


Charged to profit or loss
-



At end of year
419,076

The provision for deferred taxation is made up as follows:

2023
2022


Tax on investment property revaluation
419,076
419,076

419,076
419,076


12.


Share capital

2023
2022
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
117
117



13.


Reserves

Profit and loss account

The profit and loss account represents the accumulated comprehensive profit or losses for the year and prior periods.

 
Page 9