Registered number
11837980
HANDS ON PROPERTIES LTD
Unaudited Filleted Accounts
29 February 2024
TEMPLETONS (HOLDINGS) LIMITED
CHARTERED ACCOUNTANTS
309 HOE STREET
WALTHAMSTOW
LONDON E17 9BG
HANDS ON PROPERTIES LTD
Registered number: 11837980
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 449,390 195,000
Current assets
Cash at bank and in hand 9,153 4,917
Creditors: amounts falling due within one year 4 (120,752) (49,956)
Net current liabilities (111,599) (45,039)
Total assets less current liabilities 337,791 149,961
Creditors: amounts falling due after more than one year 5 (309,245) (124,745)
Provisions for liabilities (3,884) (3,884)
Net assets 24,662 21,332
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 16,560 16,560
Profit and loss account 8,002 4,672
Shareholder's funds 24,662 21,332
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Hamed Shahriari
Director
Approved by the board on 20 November 2024
HANDS ON PROPERTIES LTD
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration receivable. Turnover includes rental income from Investment property.
Tangible fixed assets
Tangible fixed assets consist of Investment Properties. Investment Properties are revalued at the year end by the company's Director based on market values.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment Properties
£
Cost/ (Valuation) (Valuation)
At 1 March 2023 195,000
Additions 254,390
At 29 February 2024 449,390
Depreciation
At 29 February 2024 -
Net book value
At 29 February 2024 449,390
At 28 February 2023 195,000
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 1,069 1,096
Other creditors 119,683 48,860
120,752 49,956
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 309,245 124,745
The bank loans are secured by a mortgage over the company Investment properties.
6 Revaluation reserve 2024 2023
£ £
At 1 March 2023 16,560 8,460
Gain on revaluation of land and buildings - 10,000
Deferred taxation arising on the revaluation of land and buildings - (1,900)
At 29 February 2024 16,560 16,560
This related to the gain arising on the revaluation of the company's investment properties as at
29 February 2024, based on a valuation conducted by the director of the company based on
market values. The director is not aware of any material change in value since the last valuation.
7 Controlling party
The company was under the control of Mr Hamed Shahriari, a director and shareholder of the company throughout the year.
8 Other information
HANDS ON PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
2 Howardian close
Penylan
Cardiff
Wales
CF23 9AG
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