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REGISTERED NUMBER: 06767465 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

North Herts Property Services Limited

North Herts Property Services Limited (Registered number: 06767465)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


North Herts Property Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R D Masters





SECRETARY: C R Coleman





REGISTERED OFFICE: 1-2 Bunyan Road
Hitchin
Hertfordshire
SG5 1NL





REGISTERED NUMBER: 06767465 (England and Wales)





ACCOUNTANTS: Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
North Herts Property Services Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of North Herts Property Services Limited for the year ended 31 March 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of North Herts Property Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of North Herts Property Services Limited and state those matters that we have agreed to state to the director of North Herts Property Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than North Herts Property Services Limited and its director for our work or for this report.

It is your duty to ensure that North Herts Property Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of North Herts Property Services Limited. You consider that North Herts Property Services 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 financial statements of North Herts Property Services 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.






Cartwrights
Chartered Accountants and Business Advisors
Regency House
33 Wood Street
Barnet
Hertfordshire
EN5 4BE


5 March 2025

North Herts Property Services Limited (Registered number: 06767465)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 12,523 -
Investment property 6 2,925,000 2,357,496
2,937,523 2,357,496

CURRENT ASSETS
Debtors 7 2,646 187,016
Cash at bank 1,826 703
4,472 187,719
CREDITORS
Amounts falling due within one year 8 803,660 738,206
NET CURRENT LIABILITIES (799,188 ) (550,487 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,138,335

1,807,009

CREDITORS
Amounts falling due after more than one year 9 (402,727 ) (538,975 )

PROVISIONS FOR LIABILITIES (303,940 ) (162,064 )
NET ASSETS 1,431,668 1,105,970

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 911,070 485,442
Retained earnings 520,594 620,524
SHAREHOLDERS' FUNDS 1,431,668 1,105,970

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

North Herts Property Services Limited (Registered number: 06767465)

Balance Sheet - continued
31 March 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 March 2025 and were signed by:





R D Masters - Director


North Herts Property Services Limited (Registered number: 06767465)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

North Herts Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rent receivable is recognised in the period to which the rent relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost
Motor vehicles - 20% on cost
Computer equipment - Straight line over 5 years

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax
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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

North Herts Property Services Limited (Registered number: 06767465)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 - 5,266 3,880 - 9,146
Additions 11,000 - - 1,670 12,670
At 31 March 2024 11,000 5,266 3,880 1,670 21,816
DEPRECIATION
At 1 April 2023 - 5,266 3,880 - 9,146
Charge for year - - - 147 147
At 31 March 2024 - 5,266 3,880 147 9,293
NET BOOK VALUE
At 31 March 2024 11,000 - - 1,523 12,523
At 31 March 2023 - - - - -

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 2,357,496
Revaluations 567,504
At 31 March 2024 2,925,000
NET BOOK VALUE
At 31 March 2024 2,925,000
At 31 March 2023 2,357,496

The investment properties were valued on an open market basis on 31 March 2024 by the director.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2025 567,504
Cost 2,357,496
2,925,000

North Herts Property Services Limited (Registered number: 06767465)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 2,646 187,016

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 142,251 137,236
Taxation and social security 23,014 27,673
Other creditors 638,395 573,297
803,660 738,206

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/24 31/3/23
£    £   
Bank loans 402,727 538,975

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 27,010 -

10. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed the director £32,044 (2023: £15,130).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is R D Masters.