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Registration number: 14896362

Hyde Properties Group Limited

Annual Report and Unaudited Financial Statements

for the Period from 26 May 2023 to 31 May 2024

 

Hyde Properties Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Hyde Properties Group Limited

Company Information

Director

Mr M Hyde

Registered office

St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

Accountants

Young & Co
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

Hyde Properties Group Limited

(Registration number: 14896362)
Balance Sheet as at 31 May 2024

Note

2024
£

Tangible assets

4

1,290,000

Investments

5

8,578

 

1,298,578

Current assets

 

Debtors

6

105,794

Creditors: Amounts falling due within one year

7

(80,956)

Net current assets

 

24,838

Total assets less current liabilities

 

1,323,416

Creditors: Amounts falling due after more than one year

7

(273,425)

Net assets

 

1,049,991

Capital and reserves

 

Called up share capital

8

100

Retained earnings

1,049,891

Shareholders' funds

 

1,049,991

For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Hyde Properties Group Limited

(Registration number: 14896362)
Balance Sheet as at 31 May 2024
(continued)

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 August 2024
 

.........................................
Mr M Hyde
Director

 

Hyde Properties Group Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2023 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wale.

The address of its registered office is:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA
England

These financial statements were authorised for issue by the director on 8 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Hyde Properties Group Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2023 to 31 May 2024
(continued)

2

Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Hyde Properties Group Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2023 to 31 May 2024
(continued)

2

Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Hyde Properties Group Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2023 to 31 May 2024
(continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

1,290,000

1,290,000

At 31 May 2024

1,290,000

1,290,000

Depreciation

Carrying amount

At 31 May 2024

1,290,000

1,290,000

Included within the net book value of land and buildings above is £1,290,000 in respect of freehold land and buildings.
 

5

Investments

2024
£

Investments in subsidiaries

8,578

 

Hyde Properties Group Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2023 to 31 May 2024
(continued)

5

Investments (continued)

Subsidiaries

£

Cost or valuation

Additions

8,578

Provision

Carrying amount

At 31 May 2024

8,578

6

Debtors

Current

Note

2024
£

Amounts owed by related parties

105,694

Other debtors

 

100

   

105,794

 

Hyde Properties Group Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2023 to 31 May 2024
(continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Loans and borrowings

9

59,336

Taxation and social security

 

21,620

 

80,956

Creditors: amounts falling due after more than one year

Note

2024
£

Due after one year

 

Loans and borrowings

9

273,425

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary share of £1 each

100

100

   

9

Loans and borrowings

Non-current loans and borrowings

 

Hyde Properties Group Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2023 to 31 May 2024
(continued)

9

Loans and borrowings (continued)

2024
£

Bank borrowings

273,425

Current loans and borrowings

2024
£

Bank borrowings

59,336