Company Registration No. 08895181 (England and Wales)
H&C PROPERTY INVESTMENT COMPANY LIMITED
Unaudited accounts
for the year ended 29 February 2024
H&C PROPERTY INVESTMENT COMPANY LIMITED
Unaudited accounts
Contents
H&C PROPERTY INVESTMENT COMPANY LIMITED
Statement of financial position
as at 29 February 2024
Investment property
800,000
800,000
Cash at bank and in hand
236,396
186,110
Creditors: amounts falling due within one year
(23,951)
(27,828)
Net current assets
212,445
158,282
Total assets less current liabilities
1,012,445
958,282
Creditors: amounts falling due after more than one year
(256,116)
(214,883)
Provisions for liabilities
Deferred tax
(106,366)
(106,366)
Net assets
649,963
637,033
Called up share capital
98
100
Profit and loss account
649,865
636,933
Shareholders' funds
649,963
637,033
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 November 2024 and were signed on its behalf by
Hannah Devine
Director
Company Registration No. 08895181
H&C PROPERTY INVESTMENT COMPANY LIMITED
Notes to the Accounts
for the year ended 29 February 2024
H&C PROPERTY INVESTMENT COMPANY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 08895181. The registered office is Suite 6,Floor 2, Congress House, 14 Lyon Road, Harrow, Middlesex, HA1 2EN, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliable measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rental Income
Rental Income is recognised in the period in which the property is occupied by the tenants.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The accounts are presented in £ sterling.
Fair value at 1 March 2023
800,000
At 29 February 2024
800,000
The property has been valued by the director as at the balance sheet date in comparison to similar properties sold nearby.
H&C PROPERTY INVESTMENT COMPANY LIMITED
Notes to the Accounts
for the year ended 29 February 2024
5
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
7,516
4,900
Taxes and social security
3,034
8,768
Loans from directors
10,349
10,347
6
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
256,116
214,883
Allotted, called up and fully paid:
98 Ordinary shares of £1 each
98
100
During the year under review,the company was under the control of the director Mrs.Kathleen Devine by virtue of her majority shareholding.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).