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REGISTERED NUMBER: 07229603 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024

FOR

HOLBRIX LIMITED

HOLBRIX LIMITED (REGISTERED NUMBER: 07229603)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOLBRIX LIMITED

COMPANY INFORMATION
For The Year Ended 30th April 2024







DIRECTOR: M J Holbrook





REGISTERED OFFICE: Floor 2
2 Esh Plaza
Sir Bobby Robson Way
Newcastle upon Tyne
Tyne and Wear
NE13 9BA





REGISTERED NUMBER: 07229603 (England and Wales)





ACCOUNTANTS: Stafford Accountancy
The Yard Suite 2.2
Gill Bridge Avenue
Sunderland
Tyne and Wear
SR1 3AW

HOLBRIX LIMITED (REGISTERED NUMBER: 07229603)

BALANCE SHEET
30th April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 505 711
Investment property 5 388,000 470,000
388,505 470,711

CURRENT ASSETS
Debtors 6 - 929
Cash at bank 71 1,730
71 2,659
CREDITORS
Amounts falling due within one year 7 529,390 527,520
NET CURRENT LIABILITIES (529,319 ) (524,861 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(140,814

)

(54,150

)

CREDITORS
Amounts falling due after more than one
year

8

9,768

11,471
NET LIABILITIES (150,582 ) (65,621 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 42,391 124,391
Retained earnings (193,073 ) (190,112 )
SHAREHOLDERS' FUNDS (150,582 ) (65,621 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

HOLBRIX LIMITED (REGISTERED NUMBER: 07229603)

BALANCE SHEET - continued
30th April 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 director and authorised for issue on 31st January 2025 and were signed by:





M J Holbrook - Director


HOLBRIX LIMITED (REGISTERED NUMBER: 07229603)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30th April 2024

1. STATUTORY INFORMATION

Holbrix Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


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

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.

Turnover
Turnover represents amounts derived from rental income which fall due within the company's ordinary activities.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Computer equipment - 33% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in the fair value recognised in the profit and loss account.

The methods and significant assumptions used to ascertain the fair value of £388,000 (2023: £470,000) and fair value movement of £-82,000 (2023: -£81,897) included within the profit for the year are as follows:

A Residential Property Appraisal was undertaken by Sanderson Weatherall LLP, an independent valuer, during a previous financial year. The valuation was carried out in accordance with the RICS Valuation - Professional Standards issued by The Royal Institute of Chartered Surveyors (the 'Red Book') as amended from time to time.

Whilst an opinion of the Capital Value was obtained, the future performance and marketability of the properties in question was also addressed.

Based upon previous appraisals and the Directors knowledge of the current economic environment, the Directors have undertaken their own appraisal in the year.


HOLBRIX LIMITED (REGISTERED NUMBER: 07229603)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30th April 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st May 2023
and 30th April 2024 827 2,138 2,965
DEPRECIATION
At 1st May 2023 615 1,639 2,254
Charge for year 42 164 206
At 30th April 2024 657 1,803 2,460
NET BOOK VALUE
At 30th April 2024 170 335 505
At 30th April 2023 212 499 711

HOLBRIX LIMITED (REGISTERED NUMBER: 07229603)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30th April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023 470,000
Revaluations (82,000 )
At 30th April 2024 388,000
NET BOOK VALUE
At 30th April 2024 388,000
At 30th April 2023 470,000

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2015 22,957
Valuation in 2016 24,457
Valuation in 2017 46,905
Valuation in 2018 7,980
Valuation in 2019 (17,977 )
Valuation in 2020 75,204
Valuation in 2021 71,887
Valuation in 2022 (25,125 )
Valuation in 2023 (81,897 )
Valuation in 2024 (82,000 )
Cost 345,609
388,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 929

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,595 1,553
Other creditors 506,633 505,031
Directors' current accounts 18,818 18,592
Accrued expenses 2,344 2,344
529,390 527,520

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 9,768 11,471

HOLBRIX LIMITED (REGISTERED NUMBER: 07229603)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30th April 2024

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

10. RESERVES
Fair
value
reserve
£   
At 1st May 2023 124,391
Fair value adjustment to Investment
property valuation

(82,000

)


At 30th April 2024 42,391