Registered number
14676676
Hoorain Properties Ltd
Filleted Accounts
29 February 2024
Hoorain Properties Ltd
Registered number: 14676676
Balance Sheet
as at 29 February 2024
Notes 2024
£
Fixed assets
Intangible assets 3 8,031
Tangible assets 4 1,041,327
1,049,358
Current assets
Cash at bank and in hand 14,287
Creditors: amounts falling due within one year 5 (439,023)
Net current liabilities (424,736)
Total assets less current liabilities 624,622
Creditors: amounts falling due after more than one year 6 (616,102)
Net assets 8,520
Capital and reserves
Called up share capital 100
Profit and loss account 8,420
Shareholder's funds 8,520
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 member has 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.
Haroon Uz Zaman
Director
Approved by the board on 7 June 2024
Hoorain Properties Ltd
Notes to the Accounts
for the period from 20 February 2023 to 29 February 2024
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Fixtures, fittings, tools and equipment over 5 years
Intangible asset over 15 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2024
Number
Average number of persons employed by the company 0
3 Intangible fixed assets £
Arrangement fee
Cost
Additions 8,605
At 29 February 2024 8,605
Amortisation
Provided during the period 574
At 29 February 2024 574
Net book value
At 29 February 2024 8,031
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
Additions 1,027,767 16,950 1,044,717
At 29 February 2024 1,027,767 16,950 1,044,717
Depreciation
Charge for the period - 3,390 3,390
At 29 February 2024 - 3,390 3,390
Net book value
At 29 February 2024 1,027,767 13,560 1,041,327
5 Creditors: amounts falling due within one year 2024
£
Trade creditors 4,000
Amounts owed to group undertakings and undertakings in which the company has a participating interest 380,324
Director's Loan Account 54,100
Other creditors 599
439,023
6 Creditors: amounts falling due after one year 2024
£
Bank loans 616,102
7 Other information
Hoorain Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
422 Ware Road
Hertford
England
SG13 7EW
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