2 2 HBRF Limited 11449898 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is property investment and development. Digita Accounts Production Advanced 6.30.9574.0 true 11449898 2023-08-01 2024-07-31 11449898 2024-07-31 11449898 core:CurrentFinancialInstruments 2024-07-31 11449898 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 11449898 core:Non-currentFinancialInstruments 2024-07-31 11449898 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 11449898 core:LandBuildings core:OwnedOrFreeholdAssets 2024-07-31 11449898 1 2024-07-31 11449898 bus:SmallEntities 2023-08-01 2024-07-31 11449898 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 11449898 bus:FilletedAccounts 2023-08-01 2024-07-31 11449898 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 11449898 bus:RegisteredOffice 2023-08-01 2024-07-31 11449898 bus:Director1 2023-08-01 2024-07-31 11449898 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 11449898 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 11449898 countries:England 2023-08-01 2024-07-31 11449898 1 2023-08-01 2024-07-31 11449898 2023-07-31 11449898 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 11449898 1 2023-07-31 11449898 2022-08-01 2023-07-31 11449898 2023-07-31 11449898 core:CurrentFinancialInstruments 2023-07-31 11449898 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 11449898 core:Non-currentFinancialInstruments 2023-07-31 11449898 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 11449898 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-31 11449898 1 2023-07-31 11449898 1 2022-08-01 2023-07-31 11449898 1 2022-07-31 xbrli:pure iso4217:GBP

Registration number: 11449898

HBRF Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

HBRF Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

HBRF Limited

(Registration number: 11449898)
Statement of Financial Position as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

579,438

590,067

Current assets

 

Debtors

5

15,518

-

Cash at bank and in hand

 

1,955

7,646

 

17,473

7,646

Creditors: Amounts falling due within one year

6

(6,046)

(24,554)

Net current assets/(liabilities)

 

11,427

(16,908)

Total assets less current liabilities

 

590,865

573,159

Creditors: Amounts falling due after more than one year

6

(573,180)

(552,594)

Net assets

 

17,685

20,565

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

17,585

20,465

Shareholders' funds

 

17,685

20,565

For the financial year ending 31 July 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 and 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 directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 7 February 2025 and signed on its behalf by:
 


Mr Bruce John Bishop
Director

 

HBRF Limited

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

1

General information

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

The address of its registered office is:
32 Petitor Road
Torquay
Devon
TQ1 4QF

Principal activity

The principal activity of the company is property investment and development.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

HBRF Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

HBRF Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 August 2023

590,067

590,067

Additions

(10,629)

(10,629)

At 31 July 2024

579,438

579,438

Depreciation

Carrying amount

At 31 July 2024

579,438

579,438

At 31 July 2023

590,067

590,067

Included within the net book value of land and buildings above is £579,438 (2023 - £590,067) in respect of freehold land and buildings.
 

 

HBRF Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

5

Debtors

2024
£

2023
£

Other debtors

15,518

-

15,518

-

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

1,200

1,200

Taxation and social security

 

-

4,839

Accruals and deferred income

 

2,496

1,218

Other creditors

 

2,350

17,297

 

6,046

24,554

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

573,180

552,594

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

HBRF Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

377,180

355,394

Other borrowings

196,000

197,200

573,180

552,594

Current loans and borrowings

2024
£

2023
£

Bank borrowings

1,200

1,200

9

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

At 31 July 2024
£

(14,946)

30,463

15,517

       
     

 

2023

At 1 August 2022
£

Advances to director
£

At 31 July 2023
£

(33,574)

18,628

(14,946)