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Company No: 07861490 (England and Wales)

HOLNE CHASE PROPERTIES LIMITED

Unaudited Financial Statements
For the financial period from 01 April 2023 to 30 June 2024
Pages for filing with the registrar

HOLNE CHASE PROPERTIES LIMITED

Unaudited Financial Statements

For the financial period from 01 April 2023 to 30 June 2024

Contents

HOLNE CHASE PROPERTIES LIMITED

COMPANY INFORMATION

For the financial period from 01 April 2023 to 30 June 2024
HOLNE CHASE PROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 April 2023 to 30 June 2024
DIRECTORS Mrs H L Simpson
Mr RAES Simpson
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
BUSINESS ADDRESS Holne Chase
Ashburton
Devon
COMPANY NUMBER 07861490 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
HOLNE CHASE PROPERTIES LIMITED

BALANCE SHEET

As at 30 June 2024
HOLNE CHASE PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 31.03.2023
£ £
Fixed assets
Intangible assets 3 136,969 0
Tangible assets 4 1,696,551 1,613,956
1,833,520 1,613,956
Current assets
Debtors 5 52,993 180,786
Investments 797,052 894,674
Cash at bank and in hand 16,759 37,608
866,804 1,113,068
Creditors: amounts falling due within one year 6 ( 12,845) ( 84,982)
Net current assets 853,959 1,028,086
Total assets less current liabilities 2,687,479 2,642,042
Net assets 2,687,479 2,642,042
Capital and reserves
Called-up share capital 7 200 200
Share premium account 1,536,016 1,536,016
Profit and loss account 9 1,151,263 1,105,826
Total shareholders' funds 2,687,479 2,642,042

For the financial period ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Holne Chase Properties Limited (registered number: 07861490) were approved and authorised for issue by the Board of Directors on 16 August 2024. They were signed on its behalf by:

Mr RAES Simpson
Director
HOLNE CHASE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 30 June 2024
HOLNE CHASE PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Holne Chase Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is Holne Chase, Ashburton, Devon.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of rent receivable for the year from investment properties excluding value added tax.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets not amortised
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated
Plant and machinery 25 % reducing balance
Fixtures and fittings not depreciated
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

Period from
01.04.2023 to
30.06.2024
Year ended
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 2 2

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 0 0
Additions 136,969 136,969
At 30 June 2024 136,969 136,969
Accumulated amortisation
At 01 April 2023 0 0
At 30 June 2024 0 0
Net book value
At 30 June 2024 136,969 136,969
At 31 March 2023 0 0

4. Tangible assets

Investment property Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost/Valuation
At 01 April 2023 1,590,000 18,246 13,693 10,480 1,632,419
Additions 0 0 0 995 995
Revaluations 85,000 0 0 0 85,000
At 30 June 2024 1,675,000 18,246 13,693 11,475 1,718,414
Accumulated depreciation
At 01 April 2023 0 7,983 0 10,480 18,463
Charge for the financial period 0 3,207 0 193 3,400
At 30 June 2024 0 11,190 0 10,673 21,863
Net book value
At 30 June 2024 1,675,000 7,056 13,693 802 1,696,551
At 31 March 2023 1,590,000 10,263 13,693 0 1,613,956

Investment properties

There has been no valuation of investment property by an independent valuer. The directors have valued the investment property in accordance with the company accounting policies.

5. Debtors

30.06.2024 31.03.2023
£ £
Amounts owed by directors 35,775 0
Prepayments 752 1,724
Corporation tax 8,193 0
Other debtors 8,273 179,062
52,993 180,786

6. Creditors: amounts falling due within one year

30.06.2024 31.03.2023
£ £
Amounts owed to directors 0 1,727
Other loans 1,250 4,621
Accruals 10,839 28,133
Taxation and social security 756 50,501
12,845 84,982

7. Called-up share capital

30.06.2024 31.03.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100
100 Ordinary A shares of £ 1.00 each 100 100
200 200

8. Related party transactions

Transactions with the entity's directors

30.06.2024 31.03.2023
£ £
Amounts owed by directors 35,775 (1,614)

During the year advances were made to the directors. A market rate of interest was charged monthly to the directors for this loan at the official rate of interest and resulted in interest of £1,145. The whole amount has been repaid within 9 months of the period end.

Other related party transactions

30.06.2024 31.03.2023
£ £
Loan to a shareholder 8,273 134,964
Loan from a shareholder (1,250) (4,621)

9. Reserves

Profit and loss account

The profit and loss account represents cumulative profit or losses, net of dividends paid and other adjustments. Included in this is a brought forward figure of £310,378 and carry forward of £395,378 in relation to undistributable, unrealised gains on investment properties.

Also included in this is a brought forward figure of £278,430 and a carry forward of £308,717 in relation to undistributable, realised losses relating to other investments.

The total distributable profits at 30 June 2024 are £755,884.