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Registration number: 10879186

HETSE Property Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

HETSE Property Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

HETSE Property Limited

(Registration number: 10879186)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,565,780

1,565,780

Current assets

 

Debtors

5

85,702

25,528

Cash at bank and in hand

 

47,965

39,471

 

133,667

64,999

Creditors: Amounts falling due within one year

6

(1,482,213)

(1,573,974)

Net current liabilities

 

(1,348,546)

(1,508,975)

Net assets

 

217,234

56,805

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

217,233

56,804

Shareholders' funds

 

217,234

56,805

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.

Director's 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 Director acknowledges his 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 Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 January 2025
 

.........................................
M Chapman
Director

 

HETSE Property Limited

Notes to the Unaudited 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.

The address of its registered office is:
Davis House
Manby Park
Manby
Louth
LN11 8UT

These financial statements were authorised for issue by the director on 14 January 2025.

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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

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.

 

HETSE Property Limited

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

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

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 the Director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 May

1,565,780

At 30 April

1,565,780

Investment property valued by the director based on market value of similar properties.

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

2,000

-

Prepayments

 

1,800

1,800

Other debtors

 

81,902

23,728

   

85,702

25,528

 

HETSE Property Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,620

-

Amounts owed to Company undertakings and undertakings in which the Company has a participating interest

1,415,946

1,515,453

Taxation and social security

 

63,647

57,081

Accruals and deferred income

 

1,000

1,440

 

1,482,213

1,573,974

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Parent and ultimate parent undertaking

The Company's immediate parent is Manby Group Limited, incorporated in England and Wales.

  These financial statements are available upon request from the address found on page 1

 The ultimate controlling party is M Chapman.