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REGISTERED NUMBER: 10339365 (England and Wales)















HINTSBROOK PROPERTIES LIMITED

Unaudited Financial Statements

for the Year Ended 31 March 2024






HINTSBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 10339365)






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


HINTSBROOK PROPERTIES LIMITED

Company Information
for the year ended 31 March 2024







DIRECTORS: P J Skerritt
Mrs W D Skerritt





REGISTERED OFFICE: Hintsbrook
School Lane
Hints
Tamworth
Staffordshire
B78 3DP





REGISTERED NUMBER: 10339365 (England and Wales)






HINTSBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 10339365)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,403 19,692
Investment property 5 5,765,000 5,765,000
5,781,403 5,784,692

CURRENT ASSETS
Debtors 6 289,061 273,888
Cash at bank 77,606 23,954
366,667 297,842
CREDITORS
Amounts falling due within one year 7 815,388 625,456
NET CURRENT LIABILITIES (448,721 ) (327,614 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,332,682

5,457,078

CREDITORS
Amounts falling due after more than one year 8 3,514,155 3,619,353
NET ASSETS 1,818,527 1,837,725

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 1,399,000 1,399,000
Retained earnings 418,527 437,725
SHAREHOLDERS' FUNDS 1,818,527 1,837,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

HINTSBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 10339365)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2024 and were signed on its behalf by:





P J Skerritt - Director


HINTSBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 10339365)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Hintsbrook Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

As at 31st March 2024, the company's balance sheet reflected net current liabilities. However, included within creditors falling due within one year are amounts due to a director. The director has given assurances that he will not request full repayment of the loan until such time as sufficient funds are available. In addition, the directors are of the opinion that sufficient funds will be available to settle creditors when they fall due for payment. Accordingly, the directors consider the going concern basis of preparation to be appropriate.

Significant judgements and estimates
Investment Properties

The value of the properties is assessed by an independent property valuation specialist at each reporting date using publicly available market evidence comprising primarily of values of comparable properties in the area and national market statistics. However, it is inherently difficult to assess the true market value of the properties without actively marketing the properties for sale.

Turnover
Turnover represents rents receivable for the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

Investment property
The company's properties are held for long-term investment and depreciation is not provided in respect of these properties. This policy represents a departure from the statutory accounting principles, which requires depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

HINTSBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 10339365)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 36,288 2,088 38,376
DEPRECIATION
At 1 April 2023 16,990 1,694 18,684
Charge for year 2,895 394 3,289
At 31 March 2024 19,885 2,088 21,973
NET BOOK VALUE
At 31 March 2024 16,403 - 16,403
At 31 March 2023 19,298 394 19,692

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 5,765,000
NET BOOK VALUE
At 31 March 2024 5,765,000
At 31 March 2023 5,765,000

Investment property fair value at 31st March 2024 is based on valuations by the directors.

Any gain or loss arising from a change in fair value is recognised in profit or loss in that accounting period.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 8,713 8,100
Other debtors 259,604 259,604
Prepayments 20,744 6,184
289,061 273,888

HINTSBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 10339365)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 85,000 85,000
Other loans 20,218 19,998
Trade creditors 62,155 19,379
Tax - 6,949
Social security and other taxes 269 1,558
Wages creditor 16,024 -
VAT 100,512 148,922
Other creditors 188 -
Deposits held 8,917 8,917
Directors' current accounts 261,769 233,214
Accrued expenses 260,336 101,519
815,388 625,456

Directors current accounts are not subject to any formal loan agreements and are therefore deemed as repayable on demand. There is no set repayment date.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans - 1-2 years 85,000 85,000
Bank loans - 2-5 years 227,500 237,500
Bank loans more 5 yr by instal 2,581,250 2,656,250
Other loans - 1-2 years 20,440 20,218
Other loans - 2-5 years - 20,440
Other loans more 5yrs non-inst 599,965 599,945
3,514,155 3,619,353

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 599,965 599,945

Repayable by instalments
Bank loans more 5 yr by instal 2,581,250 2,656,250

9. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Bank loans 2,978,750 3,063,750
Other loans 640,623 660,601
3,619,373 3,724,351