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REGISTERED NUMBER: 00352913 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 October 2023

for

HEBRON & MEDLOCK PROPERTIES LIMITED

HEBRON & MEDLOCK PROPERTIES LIMITED (REGISTERED NUMBER: 00352913)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HEBRON & MEDLOCK PROPERTIES LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P J Medlock
D J Medlock
S J Medlock





REGISTERED OFFICE: Suite 4 St George's Lodge
33 Oldfield Road
Bath
Somerset
BA2 3NE





REGISTERED NUMBER: 00352913 (England and Wales)





ACCOUNTANTS: Haines Watts
Bath House
6-8 Bath Street
Bristol
BS1 6HL

HEBRON & MEDLOCK PROPERTIES LIMITED (REGISTERED NUMBER: 00352913)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 75,981 11,182
Investment property 5 3,534,018 3,534,018
3,609,999 3,545,200

CURRENT ASSETS
Debtors 6 17,462 64,392
Cash at bank 101,343 62,845
118,805 127,237
CREDITORS
Amounts falling due within one year 7 (1,896,135 ) (1,000,797 )
NET CURRENT LIABILITIES (1,777,330 ) (873,560 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,832,669

2,671,640

CREDITORS
Amounts falling due after more than one
year

8

(418,633

)

(1,310,170

)

PROVISIONS FOR LIABILITIES (130,668 ) (130,668 )
NET ASSETS 1,283,368 1,230,802

CAPITAL AND RESERVES
Called up share capital 10 65,721 65,721
Capital redemption reserve 34,854 34,854
Fair value reserve 508,074 539,434
Retained earnings 674,719 590,793
SHAREHOLDERS' FUNDS 1,283,368 1,230,802

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HEBRON & MEDLOCK PROPERTIES LIMITED (REGISTERED NUMBER: 00352913)

Balance Sheet - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





S J Medlock - Director


HEBRON & MEDLOCK PROPERTIES LIMITED (REGISTERED NUMBER: 00352913)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023


1. COMPANY INFORMATION

Hebron & Medlock Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of property rental and property development.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

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.

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

HEBRON & MEDLOCK PROPERTIES LIMITED (REGISTERED NUMBER: 00352913)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

HEBRON & MEDLOCK PROPERTIES LIMITED (REGISTERED NUMBER: 00352913)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022 27,694 2,401 30,095
Additions 88,190 - 88,190
At 31 October 2023 115,884 2,401 118,285
DEPRECIATION
At 1 November 2022 17,112 1,801 18,913
Charge for year 22,791 600 23,391
At 31 October 2023 39,903 2,401 42,304
NET BOOK VALUE
At 31 October 2023 75,981 - 75,981
At 31 October 2022 10,582 600 11,182

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 3,534,018
NET BOOK VALUE
At 31 October 2023 3,534,018
At 31 October 2022 3,534,018

The valuations of investment properties were made as at 31 October 2023 by the directors on an open market basis. No depreciation is provided in respect of these properties.

On an historical cost basis these would have been included at an original cost of £2,895,276.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 453 -
Other debtors - 3,655
Prepayments and accrued income 17,009 60,737
17,462 64,392

HEBRON & MEDLOCK PROPERTIES LIMITED (REGISTERED NUMBER: 00352913)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 39,169 1,976
Amounts owed to group undertakings 1,716,511 787,341
Tax - 13,313
VAT 5,887 11,270
Other creditors 86,112 89,164
Directors' current accounts 81 49,500
Accruals and deferred income 48,375 48,233
1,896,135 1,000,797

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 418,633 1,310,170

The loan of £418,633 is repayable in whole within 5 years.

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other creditors 433,158 1,310,170

Included in other creditors is a loan in the sum of £433,158 with Chatleigh Limited. The loan is secured by a charge over the company's investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
261,682 Ordinary shares £ 0.2 5 65,421 65,421
1 Deferred shares £ 300 300 300
65,721 65,721

11. CONTINGENT LIABILITIES

The company is party to an Omnibus Guarantee and Set-Off Agreement in favour of the company's bankers in respect of the following related companies; Chatleigh Limited, Anglo Welsh Limited, BuildWales Homes Limited, Beeley Wood Properties Limited, DPRS Finance Limited, SG Aerospace (UK) Limited, Project Finance Limited, Panda Sanctuaries Limited, Panda Sanctuaries Holdings Limited, Plymouth House Offices Limited and Tony Morris Homes Limited. As at 31 October 2023 the potential liability was £Nil (2022 : £Nil).

HEBRON & MEDLOCK PROPERTIES LIMITED (REGISTERED NUMBER: 00352913)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


12. RELATED PARTY DISCLOSURES

Plymouth House Offices Limited is the parent company. During the year Plymouth House Offices Limited advanced a loan of £435,170 to the company. At the year end the company owed £631,511 (2022: £196,341) to Plymouth House Offices Limited. The loan is interest free and has no set date of repayment.

Panda Sanctuaries Holdings Limited is a company under common control. During the year Panda Sanctuaries Holdings Limited advanced a loan of £534,000 to the company. At the year end the company owed £1,085,000 (2022: £551,000) to Panda Sanctuaries Holdings Limited. The loan is interest free and has no set date of repayment.

Chatleigh Limited is a company under common control. During the year the company repaid loans of £894,589 to Chatleigh Limited. At the year end the company owed £433,158 (2022: £1,327,747) to Chatleigh Limited. This balance is included within other creditors and incurs interest base + 3%.