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Registered number: NI026811










HAMPTON FURNISHING AND INTERIORS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
HAMPTON FURNISHING AND INTERIORS LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 8


 
HAMPTON FURNISHING AND INTERIORS LIMITED
REGISTERED NUMBER: NI026811

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,375
22,125

Investment property
 5 
1,100,000
1,100,000

  
1,121,375
1,122,125

Current assets
  

Stocks
 6 
50
50

Debtors: amounts falling due within one year
 7 
5,009
3,417

Cash at bank and in hand
 8 
365,760
325,408

  
370,819
328,875

Creditors: amounts falling due within one year
 9 
(35,071)
(29,704)

Net current assets
  
 
 
335,748
 
 
299,171

Total assets less current liabilities
  
1,457,123
1,421,296

Creditors: amounts falling due after more than one year
 10 
(1,111,523)
(1,111,523)

  

Net assets
  
345,600
309,773


Capital and reserves
  

Called up share capital 
 11 
125,002
125,002

Investment property reserve
 12 
216,203
216,203

Profit and loss account
 12 
4,395
(31,432)

  
345,600
309,773


Page 1

 
HAMPTON FURNISHING AND INTERIORS LIMITED
REGISTERED NUMBER: NI026811

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 February 2025.


William Steven Earney
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
HAMPTON FURNISHING AND INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Hampton Furnishing and Interiors Limited is a private company limited by shares and is incorporated and registered in Northern Ireland under Company Registration Number NI026811.
The company's registered office is situated at 221 Comber Road, Lisburn, BT27 6XY.
The principal activity of the company was the rental of investment property held. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

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

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
HAMPTON FURNISHING AND INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method and reducing balance method .

Depreciation is provided on the following basis:

Plant & machinery
-
20% reducing balance / 2.5% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
HAMPTON FURNISHING AND INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Plant & machinery

£



Cost or valuation


At 1 November 2023
56,232



At 31 October 2024

56,232



Depreciation


At 1 November 2023
34,107


Charge for the year on owned assets
750



At 31 October 2024

34,857



Net book value



At 31 October 2024
21,375



At 31 October 2023
22,125

Page 5

 
HAMPTON FURNISHING AND INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 November 2023
1,100,000



At 31 October 2024
1,100,000


Comprising


Cost
883,797

Annual revaluation surplus/(deficit):


Valuation 2010
733,203

2016
(517,000)

At 31 October 2024
1,100,000

The 2024 valuations were made by the director, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,166,797
1,166,797

Accumulated depreciation and impairments
(283,000)
(283,000)

883,797
883,797


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
50
50

50
50




Page 6

 
HAMPTON FURNISHING AND INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
3,154
1,735

Prepayments and accrued income
1,855
1,682

5,009
3,417



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
365,760
325,408

365,760
325,408



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
67

Corporation tax
9,543
8,833

Other creditors
20,000
15,201

Accruals and deferred income
5,528
5,603

35,071
29,704



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
1,111,523
1,111,523

1,111,523
1,111,523


Page 7

 
HAMPTON FURNISHING AND INTERIORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2
125,000 (2023 - 125,000) Preference shares of £1.00 each
125,000
125,000

125,002

125,002



12.


Reserves

Investment property revaluation reserve

The revaluation reserve includes all current and prior year surpluses and deficits, net of deferred tax, on the revaluation of the investment property held. 

Profit & loss account

The profit and loss account is a fully distributable reserve and includes all current and prior year retained profit and losses. 


13.


Controlling party

The company's immediate and ultimate parent company is Earney Developments Ltd.  The ultimate controlling party is considered to be Mr T Earney and Mrs E Earney by virtue of their shareholding in Ballymacbrennan Limited, the parent company of Earney Developments Ltd. 


Page 8