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Registered number: 05638048
HMS Property Management Services Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Naylor Accountancy Services Limited
25 Hursley Road
Chandler's Ford
Eastleigh
Hampshire
SO53 2FS
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05638048
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,779 20,813
Investments 5 85,000 85,000
101,779 105,813
CURRENT ASSETS
Debtors 6 109,367 88,939
Cash at bank and in hand 23,422 65,508
132,789 154,447
Creditors: Amounts Falling Due Within One Year 7 (146,599 ) (136,547 )
NET CURRENT ASSETS (LIABILITIES) (13,810 ) 17,900
TOTAL ASSETS LESS CURRENT LIABILITIES 87,969 123,713
Creditors: Amounts Falling Due After More Than One Year 8 (211,667 ) (281,667 )
NET LIABILITIES (123,698 ) (157,954 )
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account (123,898 ) (158,154 )
SHAREHOLDERS' FUNDS (123,698) (157,954)
Page 1
Page 2
For the year ending 31 March 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S R Eckton
Director
D E Harper
Director
28th November 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
HMS Property Management Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05638048 . The registered office is 62 Rumbridge Street, Totton, Southampton, SO40 9DS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requiremetns of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statemetns are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any  impairment losses. 
Depreciation is recognised so as to  to write off the cost or valuation of  assets, less their  residual values over their  useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.7. 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 current liabilities.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2023: 15)
17 15
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 54,052 15,542 69,594
Additions 4,516 - 4,516
Disposals (4,113 ) - (4,113 )
Transfers (1,533 ) 1,533 -
As at 31 March 2024 52,922 17,075 69,997
Depreciation
As at 1 April 2023 34,433 14,348 48,781
Provided during the period 8,133 417 8,550
Disposals (4,113 ) - (4,113 )
Transfers (382 ) 382 -
As at 31 March 2024 38,071 15,147 53,218
Net Book Value
As at 31 March 2024 14,851 1,928 16,779
As at 1 April 2023 19,619 1,194 20,813
5. Investments
Subsidiaries
£
Cost
As at 1 April 2023 85,000
As at 31 March 2024 85,000
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 85,000
As at 1 April 2023 85,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 58,920 56,835
Amounts owed by group undertakings 22,425 3,900
Other debtors 28,022 28,204
109,367 88,939
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 18,475 12,258
Bank loans and overdrafts 10,000 10,000
Other creditors 64,429 76,693
Taxation and social security 53,695 37,596
146,599 136,547
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,667 21,667
Other creditors 200,000 260,000
211,667 281,667
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
10. Subsidiaries
Detais of the company's subsidiaries at 31 March 2023 are as follows:
Name of undertaking
Registered office
Class of 
%Held 
Shares held
Direct
Indirect
Winchester Residential Sales Limited
United Kingdom
Ordinary
100.00
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reseves
Profit/ (Loss)
£
£
Winchester Residential Sales Limited
(4741)
8864
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