Registered number
11496699
HAB PROPERTY INVESTMENTS LTD
Filleted Accounts
31 August 2023
HAB PROPERTY INVESTMENTS LTD
Registered number: 11496699
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 624,681 615,007
Current assets
Cash at bank and in hand 16,037 11,944
Creditors: amounts falling due within one year 4 (43,018) (48,037)
Net current liabilities (26,981) (36,093)
Total assets less current liabilities 597,700 578,914
Creditors: amounts falling due after more than one year 5 (547,174) (555,134)
Net assets 50,526 23,780
Capital and reserves
Called up share capital 4 4
Revaluation reserve 7 34,638 34,638
Profit and loss account 15,884 (10,862)
Shareholders' funds 50,526 23,780
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.
Jack Garey
Director
Approved by the board on 30 March 2024
HAB PROPERTY INVESTMENTS LTD
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 -
3 Tangible fixed assets
Land and buildings Property renovations Furnishings Total
£ £ £ £
Cost
At 1 September 2022 578,156 22,684 14,167 615,007
Additions - - 9,674 9,674
At 31 August 2023 578,156 22,684 23,841 624,681
Depreciation
At 31 August 2023 - - - -
Net book value
At 31 August 2023 578,156 22,684 23,841 624,681
At 31 August 2022 578,156 22,684 14,167 615,007
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 40,700 46,656
Trade creditors 2,318 1,381
43,018 48,037
5 Creditors: amounts falling due after one year 2023 2022
£ £
Building Society loan 301,016 301,016
Bank loan 206,526 206,526
Other creditors - shareholders 39,632 47,592
547,174 555,134
6 Loans 2023 2022
£ £
Creditors include:
Secured bank and building society loans 507,542 507,542
OneSavings Bank PLC and The Mortgage Works (Uk) PLC have legal charges on the freehold property known as 64, Reservoir Road, Birmingham, B16 9EF. OneSavings Bank PlC has a legal charge on the freehold property known as 38 Daisy Road, Birmingham, B16 9DZ.
7 Revaluation reserve 2023 2022
£ £
At 1 September 2022 34,638 34,638
At 31 August 2023 34,638 34,638
8 Other information
HAB PROPERTY INVESTMENTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
70 Brooklands Road, Hall green, Birmingham, West Midlands B28 8JZ
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