Silverfin false false 31/03/2024 01/05/2023 31/03/2024 Mr P Sutton 24/07/2012 Mr J Capel 24/07/2012 Mr S Heaver 24/07/2012 26 September 2024 The principal activity of the company is the letting of commercial and residential property as well as being a corporate partner in a firm of architects. 08154241 2024-03-31 08154241 bus:Director1 2024-03-31 08154241 bus:Director2 2024-03-31 08154241 bus:Director3 2024-03-31 08154241 2023-04-30 08154241 core:CurrentFinancialInstruments 2024-03-31 08154241 core:CurrentFinancialInstruments 2023-04-30 08154241 core:ShareCapital 2024-03-31 08154241 core:ShareCapital 2023-04-30 08154241 core:CapitalRedemptionReserve 2024-03-31 08154241 core:CapitalRedemptionReserve 2023-04-30 08154241 core:RetainedEarningsAccumulatedLosses 2024-03-31 08154241 core:RetainedEarningsAccumulatedLosses 2023-04-30 08154241 bus:OrdinaryShareClass1 2024-03-31 08154241 bus:OrdinaryShareClass2 2024-03-31 08154241 bus:OrdinaryShareClass3 2024-03-31 08154241 2023-05-01 2024-03-31 08154241 bus:FilletedAccounts 2023-05-01 2024-03-31 08154241 bus:SmallEntities 2023-05-01 2024-03-31 08154241 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-03-31 08154241 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-03-31 08154241 bus:Director1 2023-05-01 2024-03-31 08154241 bus:Director2 2023-05-01 2024-03-31 08154241 bus:Director3 2023-05-01 2024-03-31 08154241 2022-05-01 2023-04-30 08154241 bus:OrdinaryShareClass1 2023-05-01 2024-03-31 08154241 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 08154241 bus:OrdinaryShareClass2 2023-05-01 2024-03-31 08154241 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 08154241 bus:OrdinaryShareClass3 2023-05-01 2024-03-31 08154241 bus:OrdinaryShareClass3 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08154241 (England and Wales)

HSP BUILDINGS LIMITED

Unaudited Financial Statements
For the financial period from 01 May 2023 to 31 March 2024
Pages for filing with the registrar

HSP BUILDINGS LIMITED

Unaudited Financial Statements

For the financial period from 01 May 2023 to 31 March 2024

Contents

HSP BUILDINGS LIMITED

COMPANY INFORMATION

For the financial period from 01 May 2023 to 31 March 2024
HSP BUILDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 May 2023 to 31 March 2024
DIRECTORS Mr P Sutton
Mr J Capel
Mr S Heaver
REGISTERED OFFICE Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF
United Kingdom
COMPANY NUMBER 08154241 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
HSP BUILDINGS LIMITED

BALANCE SHEET

As at 31 March 2024
HSP BUILDINGS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024 30.04.2023
£ £
Fixed assets
Investment property 3 954,426 521,666
954,426 521,666
Current assets
Cash at bank and in hand 80,349 25,297
80,349 25,297
Creditors: amounts falling due within one year 4 ( 346,539) ( 13,302)
Net current (liabilities)/assets (266,190) 11,995
Total assets less current liabilities 688,236 533,661
Provision for liabilities ( 35,900) ( 14,600)
Net assets 652,336 519,061
Capital and reserves
Called-up share capital 5 75 75
Capital redemption reserve 25 25
Profit and loss account 6 652,236 518,961
Total shareholders' funds 652,336 519,061

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of HSP Buildings Limited (registered number: 08154241) were approved and authorised for issue by the Board of Directors on 26 September 2024. They were signed on its behalf by:

Mr P Sutton
Director
HSP BUILDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
HSP BUILDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 May 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

HSP Buildings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House, Oak View Close, Edginswell Park, Torquay, Devon, TQ2 7FF, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The directors have shortened the financial year by one month in order to align with the UK tax year end.

Turnover

Turnover represents rental income due and the company's share of the partnership profit for the period.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

Fair value movements on investment properties are recognised in the profit and loss account under the heading fair value movement on investment properties.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

Period from
01.05.2023 to
31.03.2024
Year ended
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the period, including directors 3 3

3. Investment property

Investment property
£
Valuation
As at 01 May 2023 521,666
Additions 329,426
Transfers to and from property, plant and equipment 103,334
As at 31 March 2024 954,426

The brought forward fixed assets were revalued on 30 April 2024 by the directors of the company. The basis of this valuation was current market value. The class of assets has a current value of £954,426 (2023: £521,666) and a carrying amount at historical cost of £763,134 (2023: £433,708). There has been no depreciation charged on the historical cost.

In the opinion of the directors, the additional property purchased during the period has not materially changed in value. As such the additional investment is reported at cost in these financial statements.

4. Creditors: amounts falling due within one year

31.03.2024 30.04.2023
£ £
Accruals 2,880 1,900
Other creditors 343,659 11,402
346,539 13,302

5. Called-up share capital

31.03.2024 30.04.2023
£ £
Allotted, called-up and fully-paid
2,500 Ordinary A shares shares of £ 0.01 each 25 25
2,500 Ordinary B shares shares of £ 0.01 each 25 25
2,500 Ordinary C shares shares of £ 0.01 each 25 25
75 75

6. Distributable Reserves

Included within the profit and loss reserve is £191,293 (2023: £87,959) of non-distributable reserves in respect of revaluation gains on investment property.