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REGISTERED NUMBER: 08928156 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HOUSE GROUP DEVELOPMENTS LIMITED

HOUSE GROUP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08928156)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOUSE GROUP DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 March 2024







DIRECTOR: J Fogel





REGISTERED OFFICE: Carr House
46 Carr Street
Ipswich
Suffolk
IP4 1EW





REGISTERED NUMBER: 08928156 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

HOUSE GROUP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08928156)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,950 25,398
Investments 5 50 -
Investment property 6 14,397,333 14,438,500
14,419,333 14,463,898

CURRENT ASSETS
Stocks 158,445 171,046
Debtors 7 96,905 16,791
Cash at bank 377,330 219,146
632,680 406,983
CREDITORS
Amounts falling due within one year 8 349,539 209,251
NET CURRENT ASSETS 283,141 197,732
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,702,474

14,661,630

CREDITORS
Amounts falling due after more than one
year

9

(6,781,346

)

(7,453,111

)

PROVISIONS FOR LIABILITIES (821,970 ) (794,121 )
NET ASSETS 7,099,158 6,414,398

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 2,575,099 2,507,394
Retained earnings 4,523,959 3,906,904
SHAREHOLDERS' FUNDS 7,099,158 6,414,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HOUSE GROUP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08928156)

BALANCE SHEET - continued
31 March 2024


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 director and authorised for issue on 15 August 2024 and were signed by:





J Fogel - Director


HOUSE GROUP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08928156)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 March 2024

1. STATUTORY INFORMATION

House Group Developments 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.

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.

Turnover
Turnover represents net invoiced sales of trading property and rent receivable, excluding 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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in associates
Investments in associate undertakings are recognised at 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. Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable proftits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


HOUSE GROUP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08928156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 37,551 13,085 11,576 62,212
Additions 1,569 - 2,300 3,869
At 31 March 2024 39,120 13,085 13,876 66,081
DEPRECIATION
At 1 April 2023 21,020 8,945 6,849 36,814
Charge for year 4,525 1,035 1,757 7,317
At 31 March 2024 25,545 9,980 8,606 44,131
NET BOOK VALUE
At 31 March 2024 13,575 3,105 5,270 21,950
At 31 March 2023 16,531 4,140 4,727 25,398

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
Additions 50
At 31 March 2024 50
NET BOOK VALUE
At 31 March 2024 50

HOUSE GROUP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08928156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 14,438,500
Additions 61,333
Disposals (450,000 )
Revaluations 347,500
At 31 March 2024 14,397,333
NET BOOK VALUE
At 31 March 2024 14,397,333
At 31 March 2023 14,438,500

Investment property was valued on an open market basis by the director.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 76,964 15,891
Other debtors 19,941 900
96,905 16,791

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 205,838 122,350
Other creditors 143,701 86,901
349,539 209,251

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 4,680,000 5,100,000
Other creditors 2,101,346 2,353,111
6,781,346 7,453,111

10. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 4,680,000 5,100,000

HOUSE GROUP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 08928156)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 March 2024

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023 2,507,394
Fair value movements net of deferred tax trfd
from retained earnings

67,705


At 31 March 2024 2,575,099