2022-12-012023-11-302023-11-30false03594218HRJ PROPERTIES 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HRJ PROPERTIES LIMITED

Registered Number
03594218
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

HRJ PROPERTIES LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

ROBINSON, Blake Allan
ROBINSON, Howard
ROBINSON, Karen Anne
ROBINSON, Liam Howard

Company Secretary

ROBINSON, Karen Anne

Registered Address

Unit 4 Gatebeck Business Park
Gatebeck
Kendal
LA8 0HS

Registered Number

03594218 (England and Wales)
HRJ PROPERTIES LIMITED
Statement of Financial Position
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3482,919454,073
Investments51,0001,000
Investment property4850,000850,000
1,333,9191,305,073
Current assets
Debtors115,123168,649
Cash at bank and on hand43,84728,722
158,970197,371
Creditors amounts falling due within one year6(238,613)(197,724)
Net current assets (liabilities)(79,643)(353)
Total assets less current liabilities1,254,2761,304,720
Creditors amounts falling due after one year7(354,480)(431,466)
Provisions for liabilities9(188,894)(203,994)
Net assets710,902669,260
Capital and reserves
Called up share capital100100
Revaluation reserve274,947274,947
Profit and loss account435,855394,213
Shareholders' funds11710,902669,260
The financial statements were approved and authorised for issue by the Board of Directors on 9 August 2024, and are signed on its behalf by:
ROBINSON, Howard
Director
ROBINSON, Karen Anne
Director

Registered Company No. 03594218
HRJ PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery25-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Investment property
Investment property is carried at fair value determined annually by external valuers 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. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20232022
Average number of employees during the year42
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 December 22156,870417,863574,733
Additions-45,29545,295
At 30 November 23156,870463,158620,028
Depreciation and impairment
At 01 December 2255,92964,731120,660
Charge for year3,10813,34116,449
At 30 November 2359,03778,072137,109
Net book value
At 30 November 2397,833385,086482,919
At 30 November 22100,941353,132454,073
4.Investment property
The 2018 valuations were made by Edwin Thompson, Chartered Surveyors, on an open market value for existing use basis. The directors do not believe these values have materially altered and are still correct at 30 November 2023.

£
Fair value at 01 December 22850,000
At 30 November 23850,000
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 December 221,0001,000
At 30 November 231,0001,000
Net book value
At 30 November 231,0001,000
At 30 November 221,0001,000

Notes

1Investments in group undertakings and participating interests
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables34,24821,993
Bank borrowings and overdrafts103,33585,995
Amounts owed to related parties10,302-
Taxation and social security12,2664,521
Finance lease and HP contracts4,068-
Other creditors71,14883,095
Accrued liabilities and deferred income3,2462,120
Total238,613197,724
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. Bank borrowings are secured by fixed and floating charge over the company's assets.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts334,518431,466
Other creditors19,962-
Total354,480431,466
Bank borrowings are secured by fixed and floating charge over the company's assets.
8.Obligations under finance leases

2023

2022

££
Finance lease and HP contracts19,962-
9.Provisions for liabilities
The provision for deferred tax comprises of provision for accelerated capital allowances £73,100. Other provisions represents government grants of £24,145.

2023

2022

££
Net deferred tax liability (asset)164,749179,849
Other provisions24,14524,145
Total188,894203,994
10.Directors advances, credits and guarantees
As at 1 December 2022 the company owed the directors £83,095. During the year the company received further loan advances of £59,542 and made repayments of £45,000. As at 30 November 2023 the company owed the directors £68,553.69.
11.Revaluation reserve
The revaluation reserve represents the revaluation surplus on investment properties, net of a provision for deferred tax.

£
Reserve at 01 December 22274,947
At 30 November 23274,947