REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
HSH PROPERTY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
HSH PROPERTY LIMITED |
HSH PROPERTY LIMITED (REGISTERED NUMBER: 06558106) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
HSH PROPERTY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
38 Craven Street |
London |
WC2N 5NG |
HSH PROPERTY LIMITED (REGISTERED NUMBER: 06558106) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | ( |
) | ( |
) |
Retained earnings |
The director acknowledges her 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. |
HSH PROPERTY LIMITED (REGISTERED NUMBER: 06558106) |
BALANCE SHEET - continued |
30 APRIL 2024 |
The financial statements were approved by the director and authorised for issue on |
HSH PROPERTY LIMITED (REGISTERED NUMBER: 06558106) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
Hsh Property Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings are stated at cost, net of depreciation and any provision for impairment. Cost includes expenditure directly attributable to bringing the asset into working condition for its intended use. |
Depreciation is provided on all fixtures and fittings at rates calculated to write off the cost, less estimated residual value, over their expected useful economic lives on a straight-line basis as follows: |
Fixtures and fittings: 25% per annum. |
Investment property |
Investment properties are initially measured at cost, including directly attributable transaction costs. Subsequent to initial recognition, investment properties are measured at fair value at each reporting date, with changes in fair value recognised in the profit and loss account. |
Financial instruments |
Recognition and Initial Measurement |
Financial instruments are recognised when the company becomes a party to the contractual provisions of the instrument. They are initially measured at transaction price, including any directly attributable transaction costs, unless the instrument is classified as at fair value through profit or loss. |
Subsequent Measurement |
The company classifies financial instruments into the following categories: |
Basic Financial Instruments |
Basic financial instruments include cash, trade and other receivables, trade and other payables, and loans. These are measured at amortised cost using the effective interest method, except for short-term instruments where the impact of discounting is immaterial. |
Other Financial Instruments |
Non-basic financial instruments, such as listed investments or derivatives, are measured at fair value through profit or loss, with changes in fair value recognised in the profit and loss account in the period in which they arise. |
Derecognition |
Financial assets are derecognised when the contractual rights to the cash flows from the asset expire or are transferred. Financial liabilities are derecognised when the company’s obligations are discharged, cancelled, or expire. |
HSH PROPERTY LIMITED (REGISTERED NUMBER: 06558106) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
Additions |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
HSH PROPERTY LIMITED (REGISTERED NUMBER: 06558106) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Revaluations | (188,000 | ) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
The 2024 valuation was carried out by the director based on the open market value for its existing use. |
Had the investment property been accounted for under historical cost accounting principles, its valuation would have been as follows: |
2024 £ 2023 £ |
Historic cost 3,982,815 3,982,815 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CURRENT ASSET INVESTMENTS |
2024 | 2023 |
£ | £ |
Listed investments | 3,448,610 | 3,235,103 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Payments on account |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
HSH PROPERTY LIMITED (REGISTERED NUMBER: 06558106) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
10. | RELATED PARTY DISCLOSURES |
During the reporting year, the company declared and paid dividends totaling £224,000 (2023: £288,000) to its shareholder. |
During the year, a close family member of the director provided services to the company. The total amount paid for these services was £239,577 (2023: £131,870). |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is Ms F Brignone. |