His Estate Limited 11814744 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is a property investment company. Digita Accounts Production Advanced 6.30.9574.0 true true 11814744 2023-02-01 2024-01-31 11814744 2024-01-31 11814744 bus:OrdinaryShareClass1 bus:OtherShareType 2024-01-31 11814744 core:CurrentFinancialInstruments 2024-01-31 11814744 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 11814744 core:Non-currentFinancialInstruments 2024-01-31 11814744 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 11814744 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-01-31 11814744 bus:SmallEntities 2023-02-01 2024-01-31 11814744 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 11814744 bus:FullAccounts 2023-02-01 2024-01-31 11814744 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 11814744 bus:RegisteredOffice 2023-02-01 2024-01-31 11814744 bus:Director1 2023-02-01 2024-01-31 11814744 bus:OrdinaryShareClass1 bus:OtherShareType 2023-02-01 2024-01-31 11814744 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11814744 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-01 2024-01-31 11814744 countries:EnglandWales 2023-02-01 2024-01-31 11814744 2023-01-31 11814744 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-31 11814744 2022-03-01 2023-01-31 11814744 2023-01-31 11814744 bus:OrdinaryShareClass1 bus:OtherShareType 2023-01-31 11814744 core:CurrentFinancialInstruments 2023-01-31 11814744 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 11814744 core:Non-currentFinancialInstruments 2023-01-31 11814744 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 11814744 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-01-31 11814744 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11814744

His Estate Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

His Estate Limited

(Registration number: 11814744)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

82,500

82,500

Current assets

 

Debtors

5

10,200

15,000

Cash at bank and in hand

 

17,276

9,950

 

27,476

24,950

Creditors: Amounts falling due within one year

6

(17,703)

(13,216)

Net current assets

 

9,773

11,734

Total assets less current liabilities

 

92,273

94,234

Creditors: Amounts falling due after more than one year

6

(77,500)

(82,500)

Net assets

 

14,773

11,734

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

14,772

11,733

Shareholders' funds

 

14,773

11,734

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

Directors' responsibilities:

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

The directors acknowledge their 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.

Approved and authorised by the Board on 16 August 2024 and signed on its behalf by:
 

.........................................
R S Humphrey
Director

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

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

The address of its registered office is:
54 Bootham
YORK
YO30 7XZ

These financial statements were authorised for issue by the Board on 16 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

Investment property

Investment property is carried at fair value, derived from current market prices for comparable real estate deterimined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Investment properties

2024
£

At 1 February

82,500

At 31 January

82,500

The property was valued as at 1 May 2019 by J H Walter at its original purchase price.

5

Debtors

Current

2024
£

2023
£

Prepayments

199

-

Other debtors

10,001

15,000

 

10,200

15,000

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

713

1,044

Accruals and deferred income

6,990

7,174

Other creditors

10,000

4,998

17,703

13,216

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

77,500

82,500

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

77,500

82,500

Other borrowings

Other borrowings is denominated in £ sterling with a nominal interest rate of 3% + base rate%, and the final instalment is due on 10 April 2039. The carrying amount at year end is £77,500 (2023 - £82,500).

No asset is pledged as security for the loan.

 

His Estate Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Related party transactions

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

15,000

15,000

Repaid

(5,000)

(5,000)

At end of period

10,000

10,000

2023

Entities with joint control or significant influence
£

Total
£

Advanced

15,000

15,000

At end of period

15,000

15,000

Terms of loans to related parties

The loan is interest free and repayable on demand.