REGISTERED NUMBER: |
Hurford Salvi Carr Property |
Management Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
Hurford Salvi Carr Property |
Management Limited |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
Hurford Salvi Carr Property |
Management Limited (Registered number: 03259200) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Hurford Salvi Carr Property |
Management Limited |
Company Information |
for the year ended 31 July 2024 |
Director: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
Hurford Salvi Carr Property |
Management Limited (Registered number: 03259200) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
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. |
The financial statements were approved by the director and authorised for issue on |
Hurford Salvi Carr Property |
Management Limited (Registered number: 03259200) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
Hurford Salvi Carr Property Management Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. |
The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing these financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Hurford Salvi Carr Property Management Limited as an individual Company and do not contain consolidated financial information as the parent of a group. The Company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant 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 the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. |
Depreciation and amortisation |
There is estimation uncertainty in calculating depreciation and amortisation on fixed assets, as they are being written down on a straight line basis over their estimated useful economic life, which may not match their actual useful life. |
Valuation of investments |
There is estimation uncertainty in calculating impairment of investments, as they are being held at cost less impairment. |
Management fees |
Management fees are the turnover for the period which comprises of management fees receivable for services rendered net of VAT and trade discounts (if any). Property management income is recognised when the service is provided. Surveying income is recognised based on stage of completion. Insurance commission is recognised on the date at which the associated policy is effective from. |
Hurford Salvi Carr Property |
Management Limited (Registered number: 03259200) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
2. | Accounting policies - continued |
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 - 20% and 25% straight line |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 August 2023 |
Additions |
At 31 July 2024 |
Depreciation |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
Hurford Salvi Carr Property |
Management Limited (Registered number: 03259200) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
5. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 August 2023 |
and 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
The Company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
Registered office: United Kingdom |
Nature of business: |
% |
Class of shares: | holding |
6. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Hurford Salvi Carr Property |
Management Limited (Registered number: 03259200) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
7. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
9. | Leasing agreements |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
10. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 4 | 4 |
11. | Other financial commitments |
The Company entered into a charge (debenture agreement) at 30 January 2018 with Lloyds Bank Plc. The charge consists of fixed and floating charges which cover all the property or undertakings of the Company. More details can be found on Companies House website. |
12. | Related party disclosures |
Included in note 9 within trade creditors is an amount of £39,994 (2023: £99,984) owed to a related party, Hurford Salvi Carr Limited, for transactions occurring within the normal course of business. |
During the year amounts totalling £24,996 (2023 - £49,992) were paid to a related party. |