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REGISTERED NUMBER: 11190754 (England and Wales)




















Financial Statements

for the Year Ended 29 February 2024

for

HORNBILL PROPERTIES LTD

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HORNBILL PROPERTIES LTD

Company Information
for the Year Ended 29 February 2024







DIRECTOR: D A J Manigart





REGISTERED OFFICE: 143 Station Road
Hampton
Middlesex
TW12 2AL





REGISTERED NUMBER: 11190754 (England and Wales)





ACCOUNTANTS: Alvis & Company (Accountants) Limited
143 Station Road
Hampton
Middlesex
TW12 2AL

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 910 1,154
Investment property 6 505,845 545,681
506,755 546,835

CURRENT ASSETS
Debtors 7 7,200 2,953
Cash at bank 8,619 11,665
15,819 14,618
CREDITORS
Amounts falling due within one year 8 (455,868 ) (453,202 )
NET CURRENT LIABILITIES (440,049 ) (438,584 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,706

108,251

CREDITORS
Amounts falling due after more than one
year

9

(145,358

)

(141,316

)
NET LIABILITIES (78,652 ) (33,065 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 12 (78,752 ) (33,165 )
SHAREHOLDERS' FUNDS (78,652 ) (33,065 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Balance Sheet - continued
29 February 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 September 2024 and were signed by:





D A J Manigart - Director


HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Hornbill Properties Ltd 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 5 years
Computer equipment - Straight line over 5 years

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 1 (2023 - 1 ) .

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 March 2023
and 29 February 2024 28,027
AMORTISATION
At 1 March 2023
and 29 February 2024 28,027
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023 4,809 601 5,410
Additions - 840 840
Disposals - (601 ) (601 )
At 29 February 2024 4,809 840 5,649
DEPRECIATION
At 1 March 2023 3,655 601 4,256
Charge for year 916 168 1,084
Eliminated on disposal - (601 ) (601 )
At 29 February 2024 4,571 168 4,739
NET BOOK VALUE
At 29 February 2024 238 672 910
At 28 February 2023 1,154 - 1,154

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 545,681
Revaluations (39,836 )
At 29 February 2024 505,845
NET BOOK VALUE
At 29 February 2024 505,845
At 28 February 2023 545,681

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 (39,836 )
Cost 545,681
505,845

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors - 679
Other debtors 7,200 2,274
7,200 2,953

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade creditors 2,906 1,781
Other creditors 452,962 451,421
455,868 453,202

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 145,358 141,316

10. SECURED DEBTS

The following secured debts are included within creditors:

29.2.24 28.2.23
£    £   
Hampshire Trust Bank 145,358 141,316

The mortgage provided by Hampshire Bank Trust is secured against all freehold and leasehold properties and fixtures thereon by way of a fixed and floating charge.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
100 Ordinary £1 100 100

HORNBILL PROPERTIES LTD (REGISTERED NUMBER: 11190754)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

12. RESERVES
Retained
earnings
£   

At 1 March 2023 (33,165 )
Deficit for the year (45,587 )
At 29 February 2024 (78,752 )

13. GOING CONCERN

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.