Company registration number 12578610 (England and Wales)
HALL GREEN PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HALL GREEN PROPERTIES LIMITED
COMPANY INFORMATION
Directors
Mr S J Williams
Mr J E Lear
Company number
12578610
Registered office
153 York Road
Hall Green
Birmingham
West Midlands
B28 8LF
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
9-11 Poplar Road
Solihull
West Midlands
B91 3AN
HALL GREEN PROPERTIES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
HALL GREEN PROPERTIES LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HALL GREEN PROPERTIES LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hall Green Properties Limited for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Hall Green Properties Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hall Green Properties Limited and state those matters that we have agreed to state to the board of directors of Hall Green Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hall Green Properties Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Hall Green Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hall Green Properties Limited. You consider that Hall Green Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hall Green Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
4 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
HALL GREEN PROPERTIES LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
7,172,907
7,007,862
Current assets
Debtors
4
193,512
87,602
Cash at bank and in hand
101,615
176,601
295,127
264,203
Creditors: amounts falling due within one year
5
(151,445)
(287,257)
Net current assets/(liabilities)
143,682
(23,054)
Total assets less current liabilities
7,316,589
6,984,808
Creditors: amounts falling due after more than one year
6
(4,534,878)
(4,204,694)
Net assets
2,781,711
2,780,114
Capital and reserves
Called up share capital
8
200
200
Share premium account
2,633,290
2,633,290
Profit and loss reserves
148,221
146,624
Total equity
2,781,711
2,780,114
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
HALL GREEN PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 4 September 2024 and are signed on its behalf by:
Mr S J Williams
Mr J E Lear
Director
Director
Company registration number 12578610 (England and Wales)
HALL GREEN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
Hall Green Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 153 York Road, Hall Green, Birmingham, West Midlands, England, B28 8LF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for rents provided in the normal course of business. The fair value of consideration takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.
Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
HALL GREEN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Investment property
2024
£
Fair value
At 1 April 2023
7,007,862
Additions
976,750
Disposals
(811,705)
At 31 March 2024
7,172,907
The directors have assessed the market value of the property and consider that there has been no significant change in the market value at the year end.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
17,519
29,612
Other debtors
175,993
57,990
193,512
87,602
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
531
20,617
Other creditors
150,914
266,640
151,445
287,257
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,534,878
4,204,694
HALL GREEN PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
4,534,878
4,204,694
Bank loans are secured over the property to which they relate.
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
195
190
195
190
Ordinary B of £1 each
5
10
5
10
200
200
200
200
During the year, the company passed an ordinary resolution by reclassifying 5 Ordinary B £1 shares into 5 Ordinary A £1 shares. The rights and privileges attached to these shares remain unaltered.
9
Ultimate controlling party
The ultimate controlling party is Mr S J Williams.