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Company No: 12456345 (England and Wales)

HMV PROPERTY LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

HMV PROPERTY LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

HMV PROPERTY LTD

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
HMV PROPERTY LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
2024 2023
£ £
Current assets
Stocks 1,016,428 397,468
Debtors 3 12,697 10,713
Cash at bank and in hand 5,551 847
1,034,676 409,028
Creditors: amounts falling due within one year 4 ( 1,048,757) ( 417,582)
Net current liabilities (14,081) (8,554)
Total assets less current liabilities (14,081) (8,554)
Net liabilities ( 14,081) ( 8,554)
Capital and reserves
Called-up share capital 5 100 100
Profit and loss account ( 14,181 ) ( 8,654 )
Total shareholders' deficit ( 14,081) ( 8,554)

For the financial 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.

Directors' responsibilities:

The financial statements of HMV Property Ltd (registered number: 12456345) were approved and authorised for issue by the Director on 22 November 2024. They were signed on its behalf by:

Harry James Hickman
Director
HMV PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
HMV PROPERTY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

HMV Property Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Butts Farm Little Green, Broadwas, Worcester, WR6 5NH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2024 2023
£ £
VAT recoverable 12,697 10,713

4. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 29,838 400
Amounts owed to directors 1,015,919 414,819
Accruals 3,000 2,363
1,048,757 417,582

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

6. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to directors 1,015,919 414,819

No interest has been charged on the above amounts and there are no set repayment terms.