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Registration number: 11351661

HTE Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

HTE Properties Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

HTE Properties Limited

Company Information

Director

Mrs H Elliott

Registered office

Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Accountants

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
HTE Properties Limited
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of HTE Properties Limited for the year ended 31 May 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of HTE Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of HTE Properties Limited and state those matters that we have agreed to state to the Board of Directors of HTE Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HTE Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that HTE Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of HTE Properties Limited. You consider that HTE Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of HTE Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

MMO Limited
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

4 October 2024

 

HTE Properties Limited

(Registration number: 11351661)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

360,450

360,450

Current assets

 

Debtors

5

231,132

65,347

Cash at bank and in hand

 

119,073

357,304

 

350,205

422,651

Creditors: Amounts falling due within one year

6

(613,010)

(690,491)

Net current liabilities

 

(262,805)

(267,840)

Net assets

 

97,645

92,610

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

97,545

92,510

Shareholders' funds

 

97,645

92,610

For the financial year ending 31 May 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 her 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 3 October 2024
 

.........................................
Mrs H Elliott
Director

 

HTE Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN
England

These financial statements were authorised for issue by the director on 3 October 2024.

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.

All figures are presented in British Sterling, which is the functional currency of the company, and are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

HTE Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Depreciation

Asset class

Depreciation method and rate

Investment properties

Nil Depreciation

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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).

 

HTE Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Investment properties

2024
£

At 1 June

360,450

At 31 May

360,450

5

Debtors

Current

2024
£

2023
£

Trade debtors

65,347

65,347

Other debtors

165,785

-

 

231,132

65,347

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

750

-

Accruals and deferred income

3,500

3,500

Other creditors

608,760

686,991

613,010

690,491

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Related party transactions

Summary of transactions with parent

HTE Holdings Limited
 Included in other debtors is an amount of £69,827 owed by HTE Holdings Ltd (2023 £77,231 owed to).
 

 

HTE Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Summary of transactions with other related parties

Heidi's Swiss Patisserie Limited
 The company is a fellow subsidiary of HTE Holdings Limited
 Included in other creditors is an amount of £608,760 (2023 £609,760) owed to Heidi's Swiss Patisserie Limited.
 

9

Parent and ultimate parent undertaking

The company's immediate parent is HTE Holdings Limited, incorporated in England.