REGISTERED NUMBER: |
Holbond Limited |
Unaudited Financial Statements For The Year Ended 31 December 2023 |
REGISTERED NUMBER: |
Holbond Limited |
Unaudited Financial Statements For The Year Ended 31 December 2023 |
Holbond Limited (Registered number: 02777907) |
Contents of the Financial Statements |
For The Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Holbond Limited |
Company Information |
For The Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Sidings Court |
Lakeside |
Doncaster |
South Yorkshire |
DN4 5NU |
Holbond Limited (Registered number: 02777907) |
Balance Sheet |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Holbond Limited (Registered number: 02777907) |
Notes to the Financial Statements |
For The Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Holbond Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue |
Revenue comprises rental income, service charge and other recoveries from tenants of the Company's investment properties. Rental income is recognised on an accruals basis in the period in which it is earned, in accordance with the terms of the lease. |
Investment property |
Investment property is carried at fair value determined annually by the director 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 profit or loss. |
Annual transfers are made between the profit and loss account and the investment property reserve to the value of any gains or losses recognised in respect of investment properties in the year. These gains are not distributable until such time that the properties are sold. At the point that these gains or losses are realised the company will make a transfer from the investment property reserve to the profit and loss account in the sum of the realised gain or loss. |
Interest income |
Interest income is recognised in profit or loss using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Holbond Limited (Registered number: 02777907) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The 2023 valuations were made by the directors, on an open market value for existing use basis. |
Cost or valuation at 31 December 2023 is represented by: |
£ |
Valuation in 2023 | 1,402,516 |
Cost | 2,101,594 |
3,504,110 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation |
Accruals and deferred income |
7. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 197,468 | 197,468 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Balance at 31 December 2023 |
Holbond Limited (Registered number: 02777907) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2023 |
7. | PROVISIONS FOR LIABILITIES - continued |
The provision for deferred taxation is made up as follows: |
2023 | 2022 |
£ | £ |
Unrealised gain on investment property | 197,468 | 197,468 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 831,000 | 831,000 |
9. | RESERVES |
Investment property revaluation reserve |
The investment property revaluation reserve relates to the revaluation of the company's leasehold properties, net of deferred tax. The reserve is not distributable. |
Profit and loss account |
The profit and loss account includes all current and prior period retained profits and losses. |
10. | CONTINGENT LIABILITIES |
The company has guaranteed a bank loan, secured against it's investment properties, alongside a number of other associated companies, in consideration for which the company has available to it, at the discretion of an associated company, a loan facility of up to £2m for further property acquisitions. |