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The 100 Property Company Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 September 2024

Registration number: 11677934

 

The 100 Property Company Limited

Contents

Balance Sheet

1 to 2

Statement of Changes in Equity

3

Notes to the Unaudited Financial Statements

4 to 10

 

The 100 Property Company Limited

Balance Sheet

30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

288,847

-

Tangible assets

5

1,106

-

Investments

6

2

-

 

289,955

-

Current assets

 

Debtors

7

11,266

-

Cash at bank and in hand

 

1,132,292

-

 

1,143,558

-

Creditors: Amounts falling due within one year

8

(1,111,871)

(81,465)

Net current assets/(liabilities)

 

31,687

(81,465)

Net assets/(liabilities)

 

321,642

(81,465)

Capital and reserves

 

Called up share capital

10

337,180

2

Share premium reserve

71,252

-

Profit and loss account

(86,790)

(81,467)

Shareholders' funds/(deficit)

 

321,642

(81,465)

 

The 100 Property Company Limited

Balance Sheet

30 September 2024

For the financial year ending 30 September 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 3 March 2025 and signed on its behalf by:
 

.........................................
Mr P W Brown
Director

Company Registration Number: 11677934

 

The 100 Property Company Limited

Statement of Changes in Equity

Year Ended 30 September 2024

Share capital
£

Share premium
£

Profit and loss account
£

Total
£

At 1 October 2023

2

-

(81,467)

(81,465)

Loss for the year

-

-

(5,323)

(5,323)

New share capital subscribed

337,178

71,252

-

408,430

At 30 September 2024

337,180

71,252

(86,790)

321,642

Share capital
£

Profit and loss account
£

Total
£

At 1 December 2022

2

(39,025)

(39,023)

Loss for the year

-

(42,442)

(42,442)

At 30 September 2023

2

(81,467)

(81,465)

 

The 100 Property Company Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
United Kingdom
SP3 4UF

The principal place of business is:
Old Pilsgate Farmhouse
Pilsgate
Stamford
United Kingdom
PE9 3HN

These financial statements were authorised for issue by the Board on 3 March 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 

The 100 Property Company Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Revenue recognition

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Balance Sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Balance Sheet date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Tangible assets

Tangible assets are stated in the balance sheet 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:

Asset class

Depreciation method and rate

Furinture, fittings and equipment

20% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is 5 years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

 

The 100 Property Company Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 0).

 

The 100 Property Company Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

Additions acquired separately

320,941

320,941

At 30 September 2024

320,941

320,941

Amortisation

Amortisation charge

32,094

32,094

At 30 September 2024

32,094

32,094

Carrying amount

At 30 September 2024

288,847

288,847

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

1,188

1,188

At 30 September 2024

1,188

1,188

Depreciation

Charge for the year

82

82

At 30 September 2024

82

82

Carrying amount

At 30 September 2024

1,106

1,106

6

Investments

2024
£

2023
£

Investments in subsidiaries

2

-

 

The 100 Property Company Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

Subsidiaries

£

Cost or valuation

Additions

2

Provision

Carrying amount

At 30 September 2024

2

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

The 100 (New Forest) Limited

Hitchcock House,
Hilltop Park,
Devizes Park,
Salisbury
SP3 4UF

United Kingdom

Ordinary shares

100%

0%

The 100 (Stamford) Limited

Hitchcock House,
Hilltop Park,
Devizes Road,
Salisbury
SP3 4UF

United Kingdom

Ordinary shares

100%

0%

Subsidiary undertakings

The 100 (New Forest) Limited

The principal activity of The 100 (New Forest) Limited is Management of hotel and restaurant.

The 100 (Stamford) Limited

The principal activity of The 100 (Stamford) Limited is management of two hotels and restaurants.

 

The 100 Property Company Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

7

Debtors

2024
£

2023
£

Prepayments

386

-

Other debtors

10,880

-

11,266

-

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

61

Trade creditors

 

28,491

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

981,581

-

Taxation and social security

 

12,880

-

Accruals and deferred income

 

51,669

1,500

Other creditors

 

37,250

79,904

 

1,111,871

81,465

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

-

61

 

The 100 Property Company Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2024

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

328,750

328,750

2

2

       

Allotted, called up and not fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

8,430

8,430

-

-

       

337,178 ordinary shares of £1 were issued at premium during the year. Out of these, 328,748 shares were fully paid and a share premium of £71,252 was received on these shares.8,430 shares were unpaid.