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Registered number: 12579861
Heyes Property Ltd
Financial Statements
For The Year Ended 31 March 2024
Stubbs Parkin
55 Hoghton Street
Southport
Merseyside
PR9 0PG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12579861
31 March 2024 31 March 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,420 37,979
Investment Properties 5 1,235,000 1,215,000
1,263,420 1,252,979
CURRENT ASSETS
Debtors 6 273,359 130,175
Cash at bank and in hand 146,422 216,304
419,781 346,479
Creditors: Amounts Falling Due Within One Year 7 (30,923 ) (38,559 )
NET CURRENT ASSETS (LIABILITIES) 388,858 307,920
TOTAL ASSETS LESS CURRENT LIABILITIES 1,652,278 1,560,899
Creditors: Amounts Falling Due After More Than One Year 8 (628,100 ) (801,634 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (66,370 ) -
NET ASSETS 957,808 759,265
CAPITAL AND RESERVES
Called up share capital 10 200 200
Share premium account 759,000 759,000
Profit and Loss Account 198,608 65
SHAREHOLDERS' FUNDS 957,808 759,265
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr R M Heyes
Director
1st October 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Heyes Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12579861 . The registered office is 55 Hoghton Street, Southport, Merseyside, PR9 0PG. The financial statements are presented in the company's presentation currency of GBP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% reducing balance basis
Computer Equipment 3 year straight line basis
2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.6. Taxation
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost or Valuation
As at 1 April 2023 60,838 319 61,157
As at 31 March 2024 60,838 319 61,157
Depreciation
As at 1 April 2023 23,026 152 23,178
Provided during the period 9,453 106 9,559
As at 31 March 2024 32,479 258 32,737
Net Book Value
As at 31 March 2024 28,359 61 28,420
As at 1 April 2023 37,812 167 37,979
5. Investment Property
31 March 2024
£
Fair Value
As at 1 April 2023 1,215,000
Additions 14,522
Disposals (260,000 )
Fair value adjustments 265,478
As at 31 March 2024 1,235,000
6. Debtors
31 March 2024 31 March 2023
£ £
Due within one year
Other debtors 273,359 130,175
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7. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,932 8,932
Trade creditors 2,923 3,640
Other creditors 3,943 3,365
Taxation and social security 15,125 22,622
30,923 38,559
8. Creditors: Amounts Falling Due After More Than One Year
31 March 2024 31 March 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,669 31,675
Other loans 605,431 769,959
628,100 801,634
9. Obligations Under Finance Leases and Hire Purchase
31 March 2024 31 March 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 8,932 8,932
Later than one year and not later than five years 22,669 31,675
31,601 40,607
31,601 40,607
10. Share Capital
31 March 2024 31 March 2023
£ £
Allotted, Called up and fully paid 200 200
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