0 false false false false false false false false false false true false false true false true true No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2024 - FRS102_2024 3 3 3 xbrli:pure xbrli:shares iso4217:GBP 05373549 2023-03-01 2024-02-29 05373549 2024-02-29 05373549 2023-02-28 05373549 2022-03-01 2023-02-28 05373549 2023-02-28 05373549 2022-02-28 05373549 core:FurnitureFittings 2023-03-01 2024-02-29 05373549 bus:Director1 2023-03-01 2024-02-29 05373549 core:LandBuildings 2023-02-28 05373549 core:FurnitureFittings 2023-02-28 05373549 core:LandBuildings 2024-02-29 05373549 core:FurnitureFittings 2024-02-29 05373549 core:AfterOneYear 2023-02-28 05373549 core:WithinOneYear 2024-02-29 05373549 core:WithinOneYear 2023-02-28 05373549 core:ShareCapital 2024-02-29 05373549 core:ShareCapital 2023-02-28 05373549 core:RetainedEarningsAccumulatedLosses 2024-02-29 05373549 core:RetainedEarningsAccumulatedLosses 2023-02-28 05373549 core:CostValuation core:Non-currentFinancialInstruments 2024-02-29 05373549 core:Non-currentFinancialInstruments 2024-02-29 05373549 core:Non-currentFinancialInstruments 2023-02-28 05373549 core:LandBuildings 2023-02-28 05373549 core:FurnitureFittings 2023-02-28 05373549 bus:SmallEntities 2023-03-01 2024-02-29 05373549 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 05373549 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 05373549 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05373549 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 05373549
HENLEY PROPERTIES LTD
Filleted Unaudited Financial Statements
29 February 2024
HENLEY PROPERTIES LTD
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
2,523,468
2,527,065
Investments
5
3
3
------------
------------
2,523,471
2,527,068
Current assets
Debtors
6
541,092
16,092
Cash at bank and in hand
55,797
477,131
---------
---------
596,889
493,223
Creditors: amounts falling due within one year
7
2,539,111
2,525,169
------------
------------
Net current liabilities
1,942,222
2,031,946
------------
------------
Total assets less current liabilities
581,249
495,122
Creditors: amounts falling due after more than one year
8
48,280
---------
---------
Net assets
581,249
446,842
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
581,149
446,742
---------
---------
Shareholders funds
581,249
446,842
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HENLEY PROPERTIES LTD
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 25 November 2024 , and are signed on behalf of the board by:
H S VIRDEE
Director
Company registration number: 05373549
HENLEY PROPERTIES LTD
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 160, HANWORTH ROAD, HOUNSLOW, MIDDX, TW3 3TR, UK.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture & fittings
-
25% reducing balance
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4. Tangible assets
Land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 March 2023
2,509,467
53,321
2,562,788
Additions
1,070
1,070
------------
--------
------------
At 29 February 2024
2,509,467
54,391
2,563,858
------------
--------
------------
Depreciation
At 1 March 2023
35,723
35,723
Charge for the year
4,667
4,667
------------
--------
------------
At 29 February 2024
40,390
40,390
------------
--------
------------
Carrying amount
At 29 February 2024
2,509,467
14,001
2,523,468
------------
--------
------------
At 28 February 2023
2,509,467
17,598
2,527,065
------------
--------
------------
5. Investments
Other investments other than loans
£
Cost
At 1 March 2023 and 29 February 2024
3
----
Impairment
At 1 March 2023 and 29 February 2024
----
Carrying amount
At 29 February 2024
3
----
At 28 February 2023
3
----
Other investment relates to 3 ordinary shares of £1 each representing 100% shares of Adner Properties Ltd, company number - 05978776.
6. Debtors
2024
2023
£
£
Other debtors
541,092
16,092
---------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
44,759
31,300
Social security and other taxes
3,679
3,316
Other creditors
2,490,673
2,490,553
------------
------------
2,539,111
2,525,169
------------
------------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
48,280
----
--------
9. Directors' advances, credits and guarantees
Directors loan account relates to directors current account.
10. Related party transactions
The company was under the control of H S VIRDEE and P LAL throughout the current and previous year.
11. Controlling party
GLOBE PROPERTY SERVICES LTD HOLDS 50 SHARES. 786 BU ALI SHAH QALANDAR PRIVATE LTD 50 SHARES.