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REGISTERED NUMBER: 07677296 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

HOBDEN PROPERTY LIMITED

HOBDEN PROPERTY LIMITED (REGISTERED NUMBER: 07677296)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOBDEN PROPERTY LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: J V F Hobden
D J Hobden





REGISTERED OFFICE: Preston Park House
South Road
Brighton
East Sussex
BN1 6SB





REGISTERED NUMBER: 07677296 (England and Wales)





ACCOUNTANTS: Plus Accounting
Chartered Accountants
Preston Park House
South Road
Brighton
East Sussex
BN1 6SB

HOBDEN PROPERTY LIMITED (REGISTERED NUMBER: 07677296)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 2,100,000 1,785,000

CURRENT ASSETS
Debtors 5 5,000 -
Cash at bank and in hand 238,512 253,828
243,512 253,828
CREDITORS
Amounts falling due within one year 6 (456,353 ) (467,772 )
NET CURRENT LIABILITIES (212,841 ) (213,944 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,887,159

1,571,056

PROVISIONS FOR LIABILITIES 7 (318,518 ) (239,768 )
NET ASSETS 1,568,641 1,331,288

CAPITAL AND RESERVES
Called up share capital 8 7 7
Revaluation reserve 1,059,213 719,303
Profit and loss account 509,421 611,978
SHAREHOLDERS' FUNDS 1,568,641 1,331,288

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.

HOBDEN PROPERTY LIMITED (REGISTERED NUMBER: 07677296)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by:





D J Hobden - Director


HOBDEN PROPERTY LIMITED (REGISTERED NUMBER: 07677296)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Hobden Property Limited 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
Revenue is measured at the fair value of the consideration received or receivable net of VAT and trade discounts, and is recognised as follows:

Turnover represents the fair value of consideration received or receivable net of VAT and rental income is
recognised on an accruals basis.

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.

Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.

Interest income
Interest income is recognised in profit or loss using the effective method.

Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

HOBDEN PROPERTY LIMITED (REGISTERED NUMBER: 07677296)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less impairment.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,785,000
Revaluations 315,000
At 31 March 2024 2,100,000
NET BOOK VALUE
At 31 March 2024 2,100,000
At 31 March 2023 1,785,000

If investment property had not been revalued, it would have been included at the following historical cost:
2024 2023
£ £
Cost 722,270 722,270


Investment property valuations for 2024 were made on an open market value, for existing use basis by the director D J Hobden.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,000 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 11,159 10,236
Other creditors 445,194 457,536
456,353 467,772

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 318,518 239,768

HOBDEN PROPERTY LIMITED (REGISTERED NUMBER: 07677296)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 239,768
Increase for investment gain 78,750
Balance at 31 March 2024 318,518

8. CALLED UP SHARE CAPITAL

2023 2022
£    £   
Allotted, called up and fully paid
£1 Ordinary A 1 1
£1 Ordinary B 1 1
£1 Ordinary C 1 1
£1 Ordinary D 1 1
£1 Ordinary E 1 1
£1 Ordinary F 1 1
£1 Ordinary G 1 1
7 7

9. RELATED PARTY DISCLOSURES

Russex Limited
At 31 March 2024, £438,586 (2023: £438,586) was due to Russex Limited, a company under common control. The loan was interest free and is repayable on demand.

Hobden Commercial Limited
At 31 March 2024, £5,000 (2022: £11,933 was owed to) was due from Hobden Commercial Limited, a company under common control. The loan was interest free and is repayable on demand.