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Registration number: 05840268

HBS Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

HBS Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

HBS Holdings Limited

(Registration number: 05840268)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

4,488,056

4,236,889

Investments

5

900

900

 

4,488,956

4,237,789

Current assets

 

Debtors

6

785,257

286,830

Cash at bank and in hand

 

50,020

203,129

 

835,277

489,959

Creditors: Amounts falling due within one year

7

(55,305)

(54,306)

Net current assets

 

779,972

435,653

Total assets less current liabilities

 

5,268,928

4,673,442

Provisions for liabilities

(98,290)

(98,290)

Net assets

 

5,170,638

4,575,152

Capital and reserves

 

Called up share capital

902

902

Revaluation reserve

689,993

689,993

Retained earnings

4,479,743

3,884,257

Shareholders' funds

 

5,170,638

4,575,152

 

HBS Holdings Limited

(Registration number: 05840268)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 January 2025 and signed on its behalf by:
 

.........................................
F Phipps
Company secretary and director

 

HBS Holdings Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rental of properties. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

HBS Holdings Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

HBS Holdings Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

4

Investment properties

2024
£

At 1 May

4,236,889

Additions

251,167

At 30 April

4,488,056

The investment property class of assets was valued on 30 April 2024 by the directors. This class of assets has a historical cost of £3,680,126 (2023: £3,428,959).

There has been no valuation of investment property by an independent valuer.

5

Investments

2024
£

2023
£

Investments in subsidiaries

900

900

Subsidiaries

£

Cost or valuation

At 1 May 2023

900

Provision

Carrying amount

At 30 April 2024

900

At 30 April 2023

900

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Headley Bodyshop Limited

2 Old Bath Road, Newbury, Berkshire, RG14 1QL

Ordinary

100%

100%

 

HBS Holdings Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

Subsidiary undertakings

Headley Bodyshop Limited

The principal activity of Headley Bodyshop Limited is the repair and painting of motor vehicles.

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

8,420

2,404

Amounts owed by group undertakings

8

627,896

202,479

Prepayments

 

6,181

-

Other debtors

 

142,760

81,947

 

785,257

286,830

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,703

-

Taxation and social security

48,272

49,178

Other creditors

5,330

5,128

55,305

54,306

 

HBS Holdings Limited

Notes to the Financial Statements for the Year Ended 30 April 2024

8

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

F Phipps

Directors loan account

81,945

76,059

(42,902)

115,102

I C Simonowski

Directors loan account

(31)

43,968

(44,070)

(133)

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

F Phipps

Directors loan account

(85,515)

224,307

(56,847)

81,945

I C Simonowski

Directors loan account

(356)

44,788

(44,463)

(31)

Income and receivables from related parties

2024

Subsidiary
£

Amounts receivable from related party

627,896

2023

Subsidiary
£

Amounts receivable from related party

202,479