Company No:
Contents
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 |
Note | 30.06.2024 | 31.03.2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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1,833,520 | 1,613,956 | |||
Current assets | ||||
Debtors | 5 |
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Investments |
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Cash at bank and in hand |
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866,804 | 1,113,068 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 853,959 | 1,028,086 | ||
Total assets less current liabilities | 2,687,479 | 2,642,042 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Share premium account |
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Profit and loss account | 9 |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Holne Chase Properties Limited (registered number:
Mr RAES Simpson
Director |
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.
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 £.
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.
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.
Other intangible assets | not amortised |
Investment property | not depreciated |
Plant and machinery |
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Fixtures and fittings | not depreciated |
Office equipment |
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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 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.
Period from 01.04.2023 to 30.06.2024 |
Year ended 31.03.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2023 |
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Additions |
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At 30 June 2024 |
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Accumulated amortisation | |||
At 01 April 2023 |
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At 30 June 2024 |
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Net book value | |||
At 30 June 2024 |
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At 31 March 2023 |
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Investment property | Plant and machinery | Fixtures and fittings | Office equipment | Total | |||||
£ | £ | £ | £ | £ | |||||
Cost/Valuation | |||||||||
At 01 April 2023 |
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Additions |
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Revaluations |
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At 30 June 2024 |
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Accumulated depreciation | |||||||||
At 01 April 2023 |
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Charge for the financial period |
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At 30 June 2024 |
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Net book value | |||||||||
At 30 June 2024 |
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At 31 March 2023 |
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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.
30.06.2024 | 31.03.2023 | ||
£ | £ | ||
Amounts owed by directors |
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Prepayments |
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Corporation tax |
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Other debtors |
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30.06.2024 | 31.03.2023 | ||
£ | £ | ||
Amounts owed to directors |
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Other loans |
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Accruals |
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Taxation and social security |
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30.06.2024 | 31.03.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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200 | 200 |
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) |
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.