REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
HOBDEN PROPERTY LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
Revaluations | 315,000 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
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 |
Increase for investment gain | 78,750 |
Balance at 31 March 2024 |
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. |