Company registration number: 03393305
Unaudited financial statements
for the year ended 30 June 2024
for
Horne And Meredith Properties Limited
Pages for filing with the Registrar
Horne And Meredith Properties Limited
Accountants' Report to the Board of Directors for the preparation of the unaudited
financial statements
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Horne And Meredith Properties Limited for the year ended 30 June 2024 which comprise the Profit and loss account, Balance sheet and the notes to the financial statements from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Horne And Meredith 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 financial statements of Horne And Meredith Properties Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Horne And Meredith Properties Limited and its Board of Directors, as a body, for our work, or for this report.
It is your duty to ensure that Horne And Meredith 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 Horne And Meredith Properties Limited. You consider that Horne And Meredith 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 Horne And Meredith 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 financial statements.
Puddle Accountancy
Severn Bank Farm
Forden
Welshpool
Powys
SY21 8NH
United Kingdom
Date: 11 February 2025
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Company registration number: 03393305
Horne And Meredith Properties Limited
Balance sheet
as at 30 June 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 4 5,299,929 4,039,791
5,299,929 4,039,791
Current assets
Debtors - 340
Cash at bank and in hand 330,894 290,498
330,894 290,838
Creditors: amounts falling due within one
year
(1,116,850) (242,950)
Net current (liabilities)/assets (785,956) 47,888
Total assets less current liabilities 4,513,973 4,087,679
Creditors: Amounts falling due after more
than one year
5 (1,498,620) (2,486,429)
Provisions for liabilities (17,212) (11,096)
NET ASSETS 2,998,141 1,590,154
Capital and reserves
Called up share capital 100,074 100,074
Share premium account 444,392 444,392
Revaluation reserve 1,235,674 -
Profit and loss account 1,218,001 1,045,688
TOTAL EQUITY 2,998,141 1,590,154
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 30 June 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 03393305
Horne And Meredith Properties Limited
Balance sheet - continued
as at 30 June 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 11 February 2025 and signed on its behalf by:
Mrs E Fletcher, Director
11 February 2025
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Horne And Meredith Properties Limited
Notes to the financial statements
for the year ended 30 June 2024
1 Company information
Horne And Meredith Properties Limited is a private company registered in England and Wales. Its registered number is 03393305. The company is limited by shares. Its registered office is The Top House, Kemberton, Shifnal, Shropshire, TF11 9LL.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - Not depreciated
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Fixtures & fittings - 25% reducing balance
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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.
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Horne And Meredith Properties Limited
Notes to the financial statements - continued
for the year ended 30 June 2024
2 Accounting policies - continued
Deferred taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or lossover the relevant period. The capital element of the future payments is treated as a liability.
3 Average number of employees
During the year the average number of employees was 4 (2023 - 4).
4 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 July 2023 3,995,407 106,384 4,101,791
Additions - 36,669 36,669
Revaluations 1,235,674 - 1,235,674
At 30 June 2024 5,231,081 143,053 5,374,134
Depreciation
At 1 July 2023 - 62,000 62,000
Charge for year - 12,205 12,205
At 30 June 2024 - 74,205 74,205
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Horne And Meredith Properties Limited
Notes to the financial statements - continued
for the year ended 30 June 2024
4 Tangible fixed assets - continued
Net book value
At 30 June 2024 5,231,081 68,848 5,299,929
At 30 June 2023 3,995,407 44,384 4,039,791
If ENTER REVALUED CLASS had not been revalued, it would have been included at the following historical cost:
2024 2023
£ £
Cost - -
Accumulated depreciation - -
5 Creditors: amounts falling due after more than five years
2024 2023
£ £
Repayable otherwise than by instalments
Other creditors 1,498,620 2,486,429
1,498,620 2,486,429
6 Advances, credit and guarantees granted to directors
The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023.
2024 2023
£ £
Amounts advanced - 42
Balance outstanding at end of year - 42
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