REGISTERED NUMBER: |
HINTSBROOK PROPERTIES LIMITED |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
HINTSBROOK PROPERTIES LIMITED (REGISTERED NUMBER: 10339365) |
Balance Sheet |
31 March 2024 |
31/3/24 | 31/3/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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 |
Other debtors |
Prepayments |
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 |
Other loans |
Trade creditors |
Tax |
Social security and other taxes |
Wages creditor | 16,024 | - |
VAT | 100,512 | 148,922 |
Other creditors |
Deposits held | 8,917 | 8,917 |
Directors' current accounts | 261,769 | 233,214 |
Accrued expenses |
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 |
Bank loans - 2-5 years |
Bank loans more 5 yr by instal |
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 |
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 |
Other loans |