Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30false0No description of principal activitytrue2022-12-01false0trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08647249 2022-12-01 2023-11-30 08647249 2021-12-01 2022-11-30 08647249 2023-11-30 08647249 2022-11-30 08647249 c:Director1 2022-12-01 2023-11-30 08647249 d:PlantMachinery 2022-12-01 2023-11-30 08647249 d:PlantMachinery 2023-11-30 08647249 d:PlantMachinery 2022-11-30 08647249 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08647249 d:FurnitureFittings 2022-12-01 2023-11-30 08647249 d:FurnitureFittings 2023-11-30 08647249 d:FurnitureFittings 2022-11-30 08647249 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08647249 d:ComputerEquipment 2022-12-01 2023-11-30 08647249 d:ComputerEquipment 2023-11-30 08647249 d:ComputerEquipment 2022-11-30 08647249 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08647249 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08647249 d:FreeholdInvestmentProperty 2023-11-30 08647249 d:FreeholdInvestmentProperty 2022-11-30 08647249 d:CurrentFinancialInstruments 2023-11-30 08647249 d:CurrentFinancialInstruments 2022-11-30 08647249 d:Non-currentFinancialInstruments 2023-11-30 08647249 d:Non-currentFinancialInstruments 2022-11-30 08647249 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 08647249 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 08647249 d:ShareCapital 2023-11-30 08647249 d:ShareCapital 2022-11-30 08647249 d:RetainedEarningsAccumulatedLosses 2023-11-30 08647249 d:RetainedEarningsAccumulatedLosses 2022-11-30 08647249 c:FRS102 2022-12-01 2023-11-30 08647249 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 08647249 c:FullAccounts 2022-12-01 2023-11-30 08647249 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08647249 2 2022-12-01 2023-11-30 08647249 6 2022-12-01 2023-11-30 08647249 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 08647249









HFS INVESTMENT PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
HFS INVESTMENT PROPERTIES LIMITED
REGISTERED NUMBER: 08647249

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
2,888
4,000

Investments
 5 
25,000
-

Investment property
 6 
6,496,608
6,496,608

  
6,524,496
6,500,608

Current assets
  

Debtors: amounts falling due after more than one year
 7 
-
1,000,000

Debtors: amounts falling due within one year
 7 
1,747,010
252,122

Cash at bank and in hand
 8 
2,147,952
1,189,390

  
3,894,962
2,441,512

Creditors: amounts falling due within one year
 9 
(4,754,680)
(4,009,619)

Net current liabilities
  
 
 
(859,718)
 
 
(1,568,107)

Total assets less current liabilities
  
5,664,778
4,932,501

  

Net assets
  
5,664,778
4,932,501


Capital and reserves
  

Called up share capital 
  
1,500
1,500

Profit and loss account
  
5,663,278
4,931,001

  
5,664,778
4,932,501


Page 1

 
HFS INVESTMENT PROPERTIES LIMITED
REGISTERED NUMBER: 08647249
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 August 2024.




H F Smith
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
HFS INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

HFS Investment Properties Limited is a private company, limited by shares, incorporated in England and Wales, registration number 08647249. The registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL. The principal activity of the company continued to be that of rental of investment properties.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company, and rounded to the nearest pound sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue comprises rental income received from properties exclusive of VAT.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
HFS INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Straight line
Fixtures and fittings
-
25%
Straight line
Computer equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
HFS INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 5

 
HFS INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2022
9,650
1,590
529
11,769



At 30 November 2023

9,650
1,590
529
11,769



Depreciation


At 1 December 2022
5,796
1,590
382
7,768


Charge for the year on owned assets
966
-
147
1,113



At 30 November 2023

6,762
1,590
529
8,881



Net book value



At 30 November 2023
2,888
-
-
2,888



At 30 November 2022
3,854
-
147
4,001

Page 6

 
HFS INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


Additions
25,000



At 30 November 2023
25,000





6.


Investment property


Freehold investment property

£



Valuation


At 1 December 2022
6,496,608



At 30 November 2023
6,496,608

The 2023 valuations were made by the directors, on an open market value for existing use basis.




Page 7

 
HFS INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
-
1,000,000

-
1,000,000


2023
2022
£
£

Due within one year

Trade debtors
608,839
146,807

Other debtors
1,100,315
100,315

Prepayments and accrued income
37,856
5,000

1,747,010
252,122



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,147,952
1,189,390

2,147,952
1,189,390



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
5,453
98

Corporation tax
219,319
107,740

Other taxation and social security
98,465
33,412

Other creditors
4,355,050
3,799,630

Accruals and deferred income
76,393
68,739

4,754,680
4,009,619


Page 8

 
HFS INVESTMENT PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

10.


Related party transactions

Key management personnel
At the year-end £629,296 (2022: £949,296) was due to key management personnel.

 
Page 9