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Hallowes Properties Ltd
Unaudited Financial Statements
For The Year Ended 29 February 2024
Blue Cloud Accounting Solutions Limited
128 Saltergate
Chesterfield
Derbyshire
S40 1NG
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13221315
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 368,292 162,455
368,292 162,455
CURRENT ASSETS
Debtors 5 333 1,249
Cash at bank and in hand 1,555 787
1,888 2,036
Creditors: Amounts Falling Due Within One Year 6 (6,632 ) (56,803 )
NET CURRENT ASSETS (LIABILITIES) (4,744 ) (54,767 )
TOTAL ASSETS LESS CURRENT LIABILITIES 363,548 107,688
Creditors: Amounts Falling Due After More Than One Year 7 (379,940 ) (109,955 )
NET LIABILITIES (16,392 ) (2,267 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (16,394 ) (2,269 )
SHAREHOLDERS' FUNDS (16,392) (2,267)
Page 1
Page 2
For the year ending 29 February 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
Mrs Keeley Bamford
Director
24 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Hallowes Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13221315 . The registered office is 5 Meadow Head, Sheffield, S8 7UA.
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Plant & Machinery 20% Reducing Balance
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Investment Properties Plant & Machinery Total
£ £ £
Cost
As at 1 March 2023 162,455 - 162,455
Additions 205,326 639 205,965
As at 29 February 2024 367,781 639 368,420
Depreciation
As at 1 March 2023 - - -
Provided during the period - 128 128
As at 29 February 2024 - 128 128
...CONTINUED
Page 3
Page 4
Net Book Value
As at 29 February 2024 367,781 511 368,292
As at 1 March 2023 162,455 - 162,455
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 1,000
Prepayments and accrued income 333 249
333 1,249
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 39 217
Bank loans and overdrafts 3,489 3,522
Accruals and deferred income 1,158 1,158
Directors' loan accounts 1,946 51,906
6,632 56,803
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 247,260 109,955
Amounts owed to associates 132,680 -
379,940 109,955
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 233,304 95,867
8. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 250,749 114,882
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4