Registered number
SC669505
HSMC Property Limited
Filleted Accounts
31 July 2023
HSMC Property Limited
Registered number: SC669505
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 641,917 641,917
Current assets
Cash at bank and in hand 4,133 2,821
Creditors: amounts falling due within one year 4 (190,361) (220,482)
Net current liabilities (186,228) (217,661)
Total assets less current liabilities 455,689 424,256
Creditors: amounts falling due after more than one year 5 (429,065) (429,065)
Net assets/(liabilities) 26,624 (4,809)
Capital and reserves
Called up share capital 1 1
Profit and loss account 26,623 (4,810)
Shareholders' funds 26,624 (4,809)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Helen McEwan
Director
Approved by the board on 18 March 2024
HSMC Property Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 August 2022 641,917
At 31 July 2023 641,917
Depreciation
At 31 July 2023 -
Net book value
At 31 July 2023 641,917
At 31 July 2022 641,917
4 Creditors: amounts falling due within one year 2023 2022
£ £
Directors loan account 181,482 218,682
Taxation and social security costs 7,079 -
Other creditors 1,800 1,800
190,361 220,482
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 429,065 429,065
6 Other information
HSMC Property Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
123 Avalon Gardens
Linlithgow Bridge
Linlithgow
EH49 7PL
HSMC Property Limited SC669505 false 2022-08-01 2023-07-31 2023-07-31 VT Final Accounts October 2023 release 2 Helen McEwan No description of principal activity SC669505 2021-08-01 2022-07-31 SC669505 core:WithinOneYear 2022-07-31 SC669505 core:AfterOneYear 2022-07-31 SC669505 core:ShareCapital 2022-07-31 SC669505 core:RetainedEarningsAccumulatedLosses 2022-07-31 SC669505 2022-08-01 2023-07-31 SC669505 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 SC669505 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 SC669505 bus:Director40 2022-08-01 2023-07-31 SC669505 1 2022-08-01 2023-07-31 SC669505 2 2022-08-01 2023-07-31 SC669505 countries:England 2022-08-01 2023-07-31 SC669505 bus:FRS102 2022-08-01 2023-07-31 SC669505 bus:FullAccounts 2022-08-01 2023-07-31 SC669505 2023-07-31 SC669505 core:WithinOneYear 2023-07-31 SC669505 core:AfterOneYear 2023-07-31 SC669505 core:ShareCapital 2023-07-31 SC669505 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC669505 core:LandBuildings 2023-07-31 SC669505 2022-07-31 SC669505 core:LandBuildings 2022-07-31 iso4217:GBP xbrli:pure