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REGISTERED NUMBER: 10660371 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

HEYBR Properties Limited

HEYBR Properties Limited (Registered number: 10660371)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


HEYBR Properties Limited (Registered number: 10660371)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £
Fixed assets
Investments 5 2,100 2,100
Investment property 6 600,000 600,000
602,100 602,100

Current assets
Cash at bank and in hand 322 713

Creditors
Amounts falling due within one year 7 (69,568 ) (66,371 )
Net current liabilities (69,246 ) (65,658 )
Total assets less current liabilities 532,854 536,442

Creditors
Amounts falling due after more than one
year

8

(384,329

)

(396,077

)

Provisions for liabilities (34,300 ) (34,300 )
Net assets 114,225 106,065

Capital and reserves
Called up share capital 200 200
Share premium 11 2,000 2,000
Retained earnings 11 112,025 103,865
Shareholders' funds 114,225 106,065

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

HEYBR Properties Limited (Registered number: 10660371)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





Mr K J Irons - Director


HEYBR Properties Limited (Registered number: 10660371)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

HEYBR Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10660371

Registered office: 53 Market Street
Ely
Cambridgeshire
CB7 4LR

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss.

Preparation of consolidated financial statements
The financial statements contain information about HEYBR Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant effect upon the financial statements are those in respect of the directors' valuation of the investment property as at 31 March 2024.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered (commercial property rents), stated net of discounts and of Value Added Tax. All income is derived from group undertakings.

HEYBR Properties Limited (Registered number: 10660371)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HEYBR Properties Limited (Registered number: 10660371)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

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.

4. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 April 2023
and 31 March 2024 2,100
Net book value
At 31 March 2024 2,100
At 31 March 2023 2,100

6. Investment property
Total
£
Fair value
At 1 April 2023
and 31 March 2024 600,000
Net book value
At 31 March 2024 600,000
At 31 March 2023 600,000

HEYBR Properties Limited (Registered number: 10660371)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. Investment property - continued

Fair value at 31 March 2024 is represented by:
£
Valuation in 2017 37,202
Valuation in 2022 100,000
Cost 462,798
600,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.3.24 31.3.23
£ £
Cost 462,798 462,798
Aggregate depreciation (74,048 ) (64,792 )

The investment property was valued on an open market basis on 23 August 2022 by Pocock & Shaw (Ely) Limited .

In the opinion of the directors, the valuation at 31 March 2024 is unchanged from that at 31 March 2023.

7. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Bank loans and overdrafts (see note 9) 11,748 10,902
Amounts owed to group undertakings 54,693 44,397
Taxation and social security 1,914 1,859
Other creditors 1,213 9,213
69,568 66,371

8. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£ £
Bank loans (see note 9) 384,329 396,077

9. Loans

Included within bank loans is £337,924 (2023 - £348,423) in respect of liabilities payable by instalments which fall due for payment after more than five years from the reporting date.

HEYBR Properties Limited (Registered number: 10660371)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. Secured debts

The following secured debts are included within creditors:

31.3.24 31.3.23
£ £
Bank loans 396,077 406,979

Bank loans are secured by means of a debenture over the company's freehold investment property, together with cross-guarantees provided by other group companies.

11. Reserves

Profit and loss account - This reserve records retained earnings and accumulated losses, including fair value adjustments arising in respect of the company's investment property. As at 31 March 2024, the non-distributable element of the retained profit and loss account amounted to £102,902 (2023 - £102,902).

Share Premium account - This non-distributable reserve records the amount above the nominal value received for shares allotted, net of transaction costs.

12. Other financial commitments

The company has provided a cross-guarantee to the group's bankers in respect of group borrowings.