Registration number:
Hustwick-Knight Limited
for the Year Ended 30 April 2024
Hustwick-Knight Limited
(Registration number: 14069264)
Balance Sheet as at 30 April 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investment property |
|
|
|
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Net liabilities |
( |
( |
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Profit and loss account |
( |
( |
|
Shareholders' deficit |
( |
( |
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 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
|
|
Hustwick-Knight Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Basis of preparation
These financial statements have been prepared using the historical cost convention in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The presentation currency is sterling.
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.
Going concern
Notwithstanding the deficit of shareholders' funds, the directors consider that the company will recover this deficit in future years and therefore it is appropriate for the accounts to be prepared on a going concern basis.
Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.
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
Investment property
Cash
Cash comprises cash on hand and all deposits.
Debtors
Debtors are amounts due from tenants and letting agents for rent receivable and other associated letting fees in the ordinary course of the business.
Debtors are recognised at the transaction price. 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.
Hustwick-Knight Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company during the year was
Investment property |
2024 |
2023 |
|
At 1 May |
|
- |
Additions |
|
282,281 |
At 30 April |
|
282,281 |
The directors have reviewed the market value of the properties using current market data for similar properties in the same areas and consider that there is no significant change at the balance sheet date.
Debtors |
2024 |
2023 |
|
Trade debtors |
- |
|
Prepayments |
|
|
|
|
Hustwick-Knight Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Other creditors |
|
|
Other loans |
183,827 |
179,818 |
Accruals |
|
|
|
|
Creditors: amounts falling due after more than one year
2024 |
2023 |
|
Bank loans |
|
|
|
|
Creditors include bank loans, which are secured against investment properties, of £387,162 (2023 - £200,031) and is repayable, other than by instalments, after more than 5 years.
Hustwick-Knight Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
49.25 |
|
49.25 |
|
|
49.25 |
|
49.25 |
Ordinary C shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary D shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary E shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary F shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary G shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary H shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary I shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary J shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary K shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary L shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary M shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary N shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary O shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary P shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
Ordinary Q shares of £0.01 each |
10 |
0.10 |
10 |
0.10 |
|
|
|
|
Related party transactions |
Directors’ loan
The directors provided the company with a loan on which no interest was charged.