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REGISTERED NUMBER: 02777907 (England and Wales)















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: M A Lawson
L R Stock





SECRETARY: B K Thakrar





REGISTERED OFFICE: 3 Coldbath Square
London
EC1R 5HL





BUSINESS ADDRESS: 2nd Floor
25 Old Burlington Street
London
W1S 3AN





REGISTERED NUMBER: 02777907 (England and Wales)





ACCOUNTANTS: Kingswood Allotts Limited
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 3,504,110 3,504,110

CURRENT ASSETS
Debtors 5 32,963 30,251
Cash at bank 1,378,493 1,349,862
1,411,456 1,380,113
CREDITORS
Amounts falling due within one year 6 29,150 75,339
NET CURRENT ASSETS 1,382,306 1,304,774
TOTAL ASSETS LESS CURRENT LIABILITIES 4,886,416 4,808,884

PROVISIONS FOR LIABILITIES 7 197,468 197,468
NET ASSETS 4,688,948 4,611,416

CAPITAL AND RESERVES
Called up share capital 8 831,000 831,000
Revaluation reserve 9 1,205,048 1,205,048
Retained earnings 2,652,900 2,575,368
SHAREHOLDERS' FUNDS 4,688,948 4,611,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





M A Lawson - Director


Holbond Limited (Registered number: 02777907)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

Holbond Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 3,504,110
NET BOOK VALUE
At 31 December 2023 3,504,110
At 31 December 2022 3,504,110

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 8,475 11,861
Prepayments 24,488 18,390
32,963 30,251

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 674 13,689
Taxation 21,625 53,498
Accruals and deferred income 6,851 8,152
29,150 75,339

7. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 197,468 197,468

Deferred
tax
£   
Balance at 1 January 2023 197,468
Balance at 31 December 2023 197,468

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 property197,468197,468

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
831,000 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.