IRIS Accounts Production v24.1.4.33 11631050 Board of Directors 1.11.22 31.10.23 31.10.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh116310502022-10-31116310502023-10-31116310502022-11-012023-10-31116310502021-10-31116310502021-11-012022-10-31116310502022-10-3111631050ns15:EnglandWales2022-11-012023-10-3111631050ns14:PoundSterling2022-11-012023-10-3111631050ns10:Director12022-11-012023-10-3111631050ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3111631050ns10:SmallEntities2022-11-012023-10-3111631050ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3111631050ns10:SmallCompaniesRegimeForDirectorsReport2022-11-012023-10-3111631050ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3111631050ns10:FullAccounts2022-11-012023-10-3111631050ns10:OrdinaryShareClass12022-11-012023-10-3111631050ns10:Director22022-11-012023-10-3111631050ns10:RegisteredOffice2022-11-012023-10-3111631050ns5:CurrentFinancialInstruments2023-10-3111631050ns5:CurrentFinancialInstruments2022-10-3111631050ns5:Non-currentFinancialInstruments2023-10-3111631050ns5:Non-currentFinancialInstruments2022-10-3111631050ns5:ShareCapital2023-10-3111631050ns5:ShareCapital2022-10-3111631050ns5:RevaluationReserve2023-10-3111631050ns5:RevaluationReserve2022-10-3111631050ns5:RetainedEarningsAccumulatedLosses2023-10-3111631050ns5:RetainedEarningsAccumulatedLosses2022-10-3111631050ns5:FurnitureFittings2022-11-012023-10-3111631050ns5:ComputerEquipment2022-11-012023-10-3111631050ns5:FurnitureFittings2022-10-3111631050ns5:ComputerEquipment2022-10-3111631050ns5:FurnitureFittings2023-10-3111631050ns5:ComputerEquipment2023-10-3111631050ns5:FurnitureFittings2022-10-3111631050ns5:ComputerEquipment2022-10-3111631050ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3111631050ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3111631050ns10:OrdinaryShareClass12023-10-3111631050ns5:RevaluationReserve2022-10-31
REGISTERED NUMBER: 11631050 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

Hindle Investments Limited

Hindle Investments Limited (Registered number: 11631050)






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


Hindle Investments Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: O J Hindle
Miss Y Tanfield





REGISTERED OFFICE: 10 Cleveland Drive
Marton-In-Cleveland
Middlesbrough
TS7 8AE





REGISTERED NUMBER: 11631050 (England and Wales)





ACCOUNTANTS: Anderson Barrowcliff Limited
Chartered Accountants
3 Kingfisher Court
Bowesfield Park
Stockton on Tees
TS18 3EX

Hindle Investments Limited (Registered number: 11631050)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,382 1,372
Investment property 5 3,182,000 2,011,000
3,184,382 2,012,372

CURRENT ASSETS
Debtors 6 8,105 34,262
Cash at bank 18,376 76,194
26,481 110,456
CREDITORS
Amounts falling due within one year 7 765,640 517,938
NET CURRENT LIABILITIES (739,159 ) (407,482 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,445,223

1,604,890

CREDITORS
Amounts falling due after more than one
year

8

(1,651,423

)

(1,081,470

)

PROVISIONS FOR LIABILITIES (198,616 ) (99,467 )
NET ASSETS 595,184 423,953

CAPITAL AND RESERVES
Called up share capital 10 2 2
Non-distributable reserve 11 649,271 426,506
Retained earnings (54,089 ) (2,555 )
SHAREHOLDERS' FUNDS 595,184 423,953

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.

Hindle Investments Limited (Registered number: 11631050)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:





O J Hindle - Director


Hindle Investments Limited (Registered number: 11631050)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Hindle Investments 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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Although the company had net current liabilities of £739,159 as at 31 October 2023, these financial statements have been prepared on a going concern basis. The directors are of the opinion that future trading results will be sufficient to enable the company to continue in operation for the foreseeable future. The directors will provide additional financial support to the company if required.

These financial statements do not include any adjustments that would result should the company not continue to trade.

Turnover
Turnover represents rental income earned in the period, exclusive of value added tax.

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 - 33% 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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Hindle Investments Limited (Registered number: 11631050)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 November 2022 2,673 - 2,673
Additions - 1,635 1,635
At 31 October 2023 2,673 1,635 4,308
DEPRECIATION
At 1 November 2022 1,301 - 1,301
Charge for year 535 90 625
At 31 October 2023 1,836 90 1,926
NET BOOK VALUE
At 31 October 2023 837 1,545 2,382
At 31 October 2022 1,372 - 1,372

Hindle Investments Limited (Registered number: 11631050)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 2,011,000
Additions 1,114,504
Disposals (283,203 )
Revaluations 339,699
At 31 October 2023 3,182,000
NET BOOK VALUE
At 31 October 2023 3,182,000
At 31 October 2022 2,011,000

At 31 October 2023 the investment properties were valued, on an open market basis, at £3,182,000 by Mr O Hindle, a director. Whilst Mr O Hindle is not a professional valuer he has over 8 years experience in the property industry. The year-end valuation is based on his knowledge of the local property market, the property condition and market comparable information for market rental yields.Several of the valuations are supported by current market values available through one of the mortgage lenders.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 8,105 34,262

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 11,259 -
Other creditors 754,381 517,938
765,640 517,938

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 1,651,423 1,081,470

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Mortgages 2,069,573 1,235,220

The loans are secured by a fixed charge over the investment properties and by personal guarantees provided by both directors.

Hindle Investments Limited (Registered number: 11631050)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Non-distributable
reserve
£   
At 1 November 2022 426,506
Fair value adjustment in
period 339,699
Realised gain (17,785 )
Deferred tax on fair value
adjustment (99,149 )

At 31 October 2023 649,271

12. RELATED PARTY DISCLOSURES

At the year end the company owed £100,000 (2022 - £100,000) to the close family of one of the directors. These balances are repayable on demand. No interest has been charged on these amounts during the year.