REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
HOLME-SUMNER INVESTMENT COMPANY |
LIMITED(THE) |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
HOLME-SUMNER INVESTMENT COMPANY |
LIMITED(THE) |
HOLME-SUMNER INVESTMENT COMPANY |
LIMITED(THE) (REGISTERED NUMBER: 00677567) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
HOLME-SUMNER INVESTMENT COMPANY |
LIMITED(THE) |
Company Information |
for the year ended 31 March 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5th Floor |
Palladium House |
1-4 Argyll Street |
London |
W1F 7TA |
HOLME-SUMNER INVESTMENT COMPANY |
LIMITED(THE) (REGISTERED NUMBER: 00677567) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the director and authorised for issue on |
HOLME-SUMNER INVESTMENT COMPANY |
LIMITED(THE) (REGISTERED NUMBER: 00677567) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Holme-Sumner Investment Company Limited(The) is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents total rent receivable for the year. |
Tangible fixed assets |
Computer equipment | - |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
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. |
HOLME-SUMNER INVESTMENT COMPANY |
LIMITED(THE) (REGISTERED NUMBER: 00677567) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Investment properties |
Freehold investment properties are stated at cost less provision, where necessary, for permanent diminution in value. This is not in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) (''FRSSE'') which requires investment properties to be stated at their open market value. No valuations have been carried out and accordingly it is not possible to quantify the effect on the net assets at the current or previous balance sheet date, or the effect on the total recognised gains and losses for the current or previous period. The departure has no effect on the profit or loss for the current or previous period. |
In accordance with the FRSSE no depreciation is provided in respect of freehold investment properties. This is not in accordance with the Companies Act 2006 which requires tangible fixed assets to be depreciated over their estimated useful lives, and is necessary to show a true and fair view. Depreciation is only one of many factors reflected in the value of investment properties and the amount which might otherwise have been shown cannot be separately identified or quantified. |
Surpluses on sales of properties, less taxation thereon, are credited to capital reserve in accordance with the company's Memorandum and Articles of Association. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | PROPERTY, PLANT AND EQUIPMENT |
Investment | Computer |
properties | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
HOLME-SUMNER INVESTMENT COMPANY |
LIMITED(THE) (REGISTERED NUMBER: 00677567) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in |
associate |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by related undertakings | 280,391 | 308,738 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors | ( |
) | ( |
) |
Amounts owed to related undertakings | 135,135 | 135,135 |
Corporation tax |
Accruals |
8. | RELATED PARTY DISCLOSURES |
Material interests of director |
During the year the company was charged agent's commission of £6,706 (2023: £3,317) to Dennis Reed Limited, a company in which Mr T Q Leigh is a director. The charge was made on a normal commercial basis.The balance due from Dennis Reed Ltd at the year end was £280,391(2023: £308,738) |
At the balance sheet date the company owed £5,000 (2023 - £5,000) and £130,135 (2023 - £130,135) to Ablett Properties Limited and Craig & Company (Properties) Limited respectively, companies under common control. The balances are unsecured, interest-free and have no fixed repayment dates. |
9. | ULTIMATE CONTROLLING PARTY |
Mr T Q Leigh, the sole director, together with members of his close family control the company by virtue of a controlling interest (directly or indirectly) of 67% of the issued ordinary share capital. |