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Registration number: 09488071

Hough BB Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Hough BB Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Hough BB Limited

(Registration number: 09488071)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

4,000,000

4,000,000

Current assets

 

Debtors

5

48,144

62,594

Cash at bank and in hand

 

124,069

75,120

 

172,213

137,714

Creditors: Amounts falling due within one year

6

(1,899,977)

(1,903,389)

Net current liabilities

 

(1,727,764)

(1,765,675)

Total assets less current liabilities

 

2,272,236

2,234,325

Creditors: Amounts falling due after more than one year

6

(1,242,700)

(1,294,040)

Provisions for liabilities

(129,111)

(128,767)

Net assets

 

900,425

811,518

Capital and reserves

 

Called up share capital

100

100

Other reserves

557,101

557,101

Retained earnings

343,224

254,317

Shareholders' funds

 

900,425

811,518

 

Hough BB Limited

(Registration number: 09488071)
Balance Sheet as at 31 May 2024

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.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 17 February 2025 and signed on its behalf by:
 

.........................................
Mr Jonathon David Beeson
Director

 

Hough BB 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:
Unit 1
Basford Old Creamery
Newcastle Road
Chorlton
Cheshire
CW2 5NQ

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

 

Hough BB Limited

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

Revenue recognition

Turnover represents net rents receivable and services recharged for the period net of VAT.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss,

The current 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers or the expert opinions of the directors. 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 the profit and loss,

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Hough BB Limited

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

4

Investment properties

2024
£

At 1 June

4,000,000

At 31 May

4,000,000

The directors have considered the value of the property as at 31 May 2024 and believes the value stated to be in line with market conditions.

There has been no valuation of investment property by an independent valuer

5

Debtors

Current

2024
£

2023
£

Trade debtors

48,144

62,594

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Other borrowings

7

151,417

148,530

Trade creditors

 

97,369

103,034

Taxation and social security

 

3,083

2,347

Other creditors

 

1,648,108

1,649,478

 

1,899,977

1,903,389

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Other borrowings

7

1,242,700

1,294,040

 

Hough BB Limited

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

7

Loans and borrowings

Bank borrowings

A loan included within other borrowings is secured by way of a fixed and floating charge over the company assets.

8

Related party transactions

Summary of transactions with other related parties

At the year end £700,000 (2023: £700,000) was owed to a related party, BLOK (UK) Limited. BLOK (UK) Limited is related as the director Mr J Beeson is also a director of the company. This amount is shown within other creditors. This loan is interest free and repayable on demand.

At the year end £20,000 (2023: £20,000) was owed to related party Pioneer Design and Build Limited. Pioneer Design and Build Limited is related as the director Mr J Beeson is also a shareholder of the company. This amount is shown within other creditors. This loan is interest free and repayable on demand.

At the year end £700,000 (2023: £20,000) was owed to a related party, Land Recovery Limited. Land Recovery Limited is related as the director Mr D Beecroft is also a director of the company. This amount is shown within other creditors. This loan is interest free and repayable on demand.

At the year end £155,000 (2023: £155,000) was owed to a related party, Land Recovery Rail Limited. Land Recovery Rail Limited is related as the director Mr D Beecroft is also a director of the company. This amount is shown within other creditors. This loan is interest free and repayable on demand.