Registered number
00677946
HYDE LANE PROPERTIES LIMITED
Unaudited Filleted Accounts
31 March 2024
HYDE LANE PROPERTIES LIMITED
Registered number: 00677946
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 2 1,206,149 1,206,149
Investments 3 1,876,427 1,855,147
3,082,576 3,061,296
Current assets
Stocks - Properties 43,117 43,890
Debtors 4 87,872 43,883
Cash at bank and in hand 62,371 158,630
193,360 246,403
Creditors: amounts falling due within one year 5 (365,221) (230,317)
Net current (liabilities)/assets (171,861) 16,086
Total assets less current liabilities 2,910,715 3,077,382
Creditors: amounts falling due after more than one year 6 (1,385,618) (1,505,618)
Provisions for liabilities (69,765) (52,898)
Net assets 1,455,332 1,518,866
Capital and reserves
Called up share capital 50,000 50,000
Revaluation reserve 8 256,012 256,012
Profit and loss account 1,149,320 1,212,854
Shareholders' funds 1,455,332 1,518,866
Number Number
Average number of employees - -
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B H Ellinger
Director
Approved by the board on 18 December 2024
HYDE LANE PROPERTIES LIMITED
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from rental income, lease extensions and sales of freehold ground rents.
Tangible fixed assets
Depreciation is not provided on investment properties which are revalued by the directors when considered appropriate to do so and the stated value differs materially from cost. Depreciation is also not provided on investment properties held as stock which are stated at cost.
Investment property buildings Nil
Stocks - Properties
Those properties held as stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Investment land and buildings
£
Valuation
At 1 April 2023 1,206,149
At 31 March 2024 1,206,149
Depreciation
At 31 March 2024 -
Net book value
At 31 March 2024 1,206,149
At 31 March 2023 1,206,149
Freehold land and buildings: 2024 2023
£ £
Historical cost 928,786 928,786
Cumulative depreciation based on historical cost - -
928,786 928,786
3 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 April 2023 1,855,147
Additions 21,280
At 31 March 2024 1,876,427
Historical cost
At 1 April 2023 1,855,147
At 31 March 2024 1,855,147
4 Debtors 2024 2023
£ £
Other debtors 87,872 43,883
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 120,000 120,000
Taxation and social security costs - 9,307
Other creditors 245,221 101,010
365,221 230,317
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,385,618 1,505,618
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 1,505,618 1,625,618
Bank loans secured on investment properties.
8 Revaluation reserve 2024 2023
£ £
At 1 April 2023 256,012 256,012
Movement - -
net of deferred tax
At 31 March 2024 256,012 256,012
9 Controlling party
The ultimate controlling party is Abbotswood Limited by virtue of its controlling interest in the share capital of the company.
10 Other information
HYDE LANE PROPERTIES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
1 Sudley Terrace
High Street
Bognor Regis
West Sussex
PO21 1EY
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