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Registered number: 11447338
Hicks Property Management Limited
Unaudited Financial Statements
For The Year Ended 31 July 2023
Inchmead Accountants Limited
100 Berkshire Place
Winnersh
Wokingham
RG41 5RD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11447338
2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 1,778,126 1,370,000
1,778,126 1,370,000
CURRENT ASSETS
Cash at bank and in hand 6,798 2,824
6,798 2,824
Creditors: Amounts Falling Due Within One Year 5 (315,641 ) (248,445 )
NET CURRENT ASSETS (LIABILITIES) (308,843 ) (245,621 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,469,283 1,124,379
Creditors: Amounts Falling Due After More Than One Year 6 (1,291,890 ) (959,056 )
NET ASSETS 177,393 165,323
CAPITAL AND RESERVES
Called up share capital 7 2 2
Revaluation reserve 8 149,979 149,979
Profit and Loss Account 27,412 15,342
SHAREHOLDERS' FUNDS 177,393 165,323
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For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Tom Hicks
Director
15 April 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Hicks Property Management Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11447338 . The registered office is 151 Seren Park Gardens, Restell Close, London, SE3 7RR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from renting of investment properties.

Rental income of investment properties:

Rental income is recognised on a straightline basis over the period of the lease.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 3 year straightline
2.5. Investment Properties
All investment properties are carried at fair value determined annually 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. The properties were revalued by the director at the end of the financial year. Changes in fair value are recognised in the profit and loss account.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
4. Investments
Unlisted
£
Cost
As at 1 August 2022 1,370,000
Additions 408,126
As at 31 July 2023 1,778,126
Provision
As at 1 August 2022 -
As at 31 July 2023 -
Net Book Value
As at 31 July 2023 1,778,126
As at 1 August 2022 1,370,000
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors (1 ) -
Corporation tax 2,831 3,599
Accruals and deferred income - 1,600
Director's loan account 139,286 69,121
Amounts owed to associates 173,525 174,125
315,641 248,445
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,291,890 959,056
Bank loans consist of mortgage payments in the amount of:
Property 1 - 3 Lime Harbour = £351,990
Property 2 - 2 Hayes Court = £370,535
Property 3- 34 George Street =£278,070
Property 4 - 71A Maltings Place = £291,295
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
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8. Reserves
Revaluation Reserve
£
As at 1 August 2022 149,979
As at 31 July 2023 149,979
9. Related Party Transactions
The company owes the director £139,286 at the year end. The loan is interest free and repayable on demand.
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