REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
HOLBRIX LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Fair value reserve | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 were approved by the director and authorised for issue on |
HOLBRIX LIMITED (REGISTERED NUMBER: 07229603) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 30th April 2024 |
1. | STATUTORY INFORMATION |
Holbrix Limited is a |
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 |
Turnover |
Turnover represents amounts derived from rental income which fall due within the company's ordinary activities. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st May 2023 |
and 30th April 2024 |
DEPRECIATION |
At 1st May 2023 |
Charge for year |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
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 |
Revaluations | (82,000 | ) |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
Directors' current accounts | 18,818 | 18,592 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
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: | £ | £ |
Ordinary | £1 | 100 | 100 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1st May 2023 |
Fair value adjustment to Investment property valuation |
(82,000 |
) |
At 30th April 2024 |