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REGISTERED NUMBER: 10612150 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

HPA PROPERTIES LIMITED

HPA PROPERTIES LIMITED (REGISTERED NUMBER: 10612150)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


HPA PROPERTIES LIMITED (REGISTERED NUMBER: 10612150)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 821,911 798,221

CURRENT ASSETS
Debtors 5 93,234 2,573
Cash at bank 4,195 91,997
97,429 94,570
CREDITORS
Amounts falling due within one year 6 374,332 375,615
NET CURRENT LIABILITIES (276,903 ) (281,045 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

545,008

517,176

CREDITORS
Amounts falling due after more than one
year

7

(559,474

)

(551,101

)

PROVISIONS FOR LIABILITIES 9 (5,923 ) -
NET LIABILITIES (20,389 ) (33,925 )

CAPITAL AND RESERVES
Called up share capital 300 300
Revaluation reserve 10 17,768 -
Retained earnings (38,457 ) (34,225 )
(20,389 ) (33,925 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

HPA PROPERTIES LIMITED (REGISTERED NUMBER: 10612150)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





Mr S Savva - Director


HPA PROPERTIES LIMITED (REGISTERED NUMBER: 10612150)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

HPA Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10612150

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


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 modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Investment property
Investment properties, which are properties held to earn rentals, are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently they are measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date.


HPA PROPERTIES LIMITED (REGISTERED NUMBER: 10612150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 798,221
Revaluations 23,690
At 29 February 2024 821,911
NET BOOK VALUE
At 29 February 2024 821,911
At 28 February 2023 798,221

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 23,690
Cost 798,221
821,911

HPA PROPERTIES LIMITED (REGISTERED NUMBER: 10612150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INVESTMENT PROPERTY - continued

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 798,221 798,221

Investment properties were valued on an open market basis on 29 February 2024 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 1,251
Other debtors 93,234 1,322
93,234 2,573

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,800
Other creditors 374,332 373,815
374,332 375,615

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 559,474 551,101

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 559,474 551,101

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 559,474 551,101

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

HPA PROPERTIES LIMITED (REGISTERED NUMBER: 10612150)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,923 -

Deferred
tax
£   
Provided during year 5,923
Balance at 29 February 2024 5,923

10. RESERVES
Revaluation
reserve
£   
Movement 17,768

At 29 February 2024 17,768

11. RELATED PARTY DISCLOSURES

Included in other debtors less than one year is an amount of £91,190 (2023: Nil) due from connected companies under common directorship. The amount was interest free and repayable on demand.

Included in other creditors less than one year is an amount of £372,299 (2023: £370,379) due to a connected company under common directorship. The amount was interest free and repayable on demand.