2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 13289115 2023-04-01 2024-03-31 13289115 2024-03-31 13289115 2023-03-31 13289115 2022-04-01 2023-03-31 13289115 2023-03-31 13289115 2022-03-31 13289115 core:PlantMachinery 2023-04-01 2024-03-31 13289115 bus:RegisteredOffice 2023-04-01 2024-03-31 13289115 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 13289115 bus:Director1 2023-04-01 2024-03-31 13289115 bus:Director2 2023-04-01 2024-03-31 13289115 core:LandBuildings 2023-03-31 13289115 core:LandBuildings 2024-03-31 13289115 core:WithinOneYear 2024-03-31 13289115 core:WithinOneYear 2023-03-31 13289115 core:ShareCapital 2024-03-31 13289115 core:ShareCapital 2023-03-31 13289115 core:RetainedEarningsAccumulatedLosses 2024-03-31 13289115 core:RetainedEarningsAccumulatedLosses 2023-03-31 13289115 core:LandBuildings 2023-03-31 13289115 bus:SmallEntities 2023-04-01 2024-03-31 13289115 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 13289115 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 13289115 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 13289115 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 13289115
HCP Property Renovations Ltd
Filleted Unaudited Financial Statements
For the year ended
31 March 2024
HCP Property Renovations Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Officers and professional advisers
1
Accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Accounting policies
5
Notes to the financial statements
7
HCP Property Renovations Ltd
Officers and Professional Advisers
The board of directors
C M Hurley
C Pritchard (Resigned 30 April 2024)
Registered office
17 Cwrt Y Coed
Brackla
Bridgend
Wales
CF31 2ST
Accountants
Clay Shaw Thomas Ltd
2 Oldfield Road
Bocam Park
Bridgend
CF35 5LJ
HCP Property Renovations Ltd
Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements
Year ended 31 March 2024
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 March 2024, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Clay Shaw Thomas Ltd
2 Oldfield Road Bocam Park Bridgend CF35 5LJ
25 February 2025
HCP Property Renovations Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
3
112,889
113,237
Current assets
Debtors
4
22,012
25,592
Cash at bank and in hand
4,751
246
--------
--------
26,763
25,838
Creditors: amounts falling due within one year
5
127,868
135,861
---------
---------
Net current liabilities
101,105
110,023
---------
---------
Total assets less current liabilities
11,784
3,214
Provisions
Taxation including deferred tax
542
--------
-------
Net assets
11,242
3,214
--------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
11,241
3,213
--------
-------
Shareholders funds
11,242
3,214
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
HCP Property Renovations Ltd
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 February 2025 , and are signed on behalf of the board by:
C M Hurley
Director
Company registration number: 13289115
HCP Property Renovations Ltd
Accounting Policies
Year ended 31 March 2024
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity,and the costs incurred or to be incurred in respect of the transactions can be measured reliably. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
HCP Property Renovations Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Cwrt Y Coed, Brackla, Bridgend, CF31 2ST, Wales.
2. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
3. Tangible assets
Investment property
Equipment
Total
£
£
£
Cost
At 1 April 2023
110,037
3,339
113,376
Additions
591
591
---------
-------
---------
At 31 March 2024
110,037
3,930
113,967
---------
-------
---------
Depreciation
At 1 April 2023
139
139
Charge for the year
939
939
---------
-------
---------
At 31 March 2024
1,078
1,078
---------
-------
---------
Carrying amount
At 31 March 2024
110,037
2,852
112,889
---------
-------
---------
At 31 March 2023
110,037
3,200
113,237
---------
-------
---------
In the opinion of the Directors, there have been no changes in the fair value of investment property.
4. Debtors
2024
2023
£
£
Trade debtors
22,012
18,091
Other debtors
7,501
--------
--------
22,012
25,592
--------
--------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
242
216
Social security and other taxes
9,466
101
Other creditors
118,160
135,544
---------
---------
127,868
135,861
---------
---------
6. Directors' advances, credit and guarantees
During the year the following transactions were made to a Director, C Pritchard.
C Pritchard
£
Balance owed to the company at 1 April 2023 7,501
Monies introduced (8,500)
-------
Balance owed by the company at 31 March 2024 (999)
-------
There are no fixed terms of repayment.
7. Related party transactions
Included within creditors are amounts owed to company Directors, C M Hurley , of £111,501 (2023: £127,469).