IRIS Accounts Production v24.2.0.383 08998299 Board of Directors Board of Directors 1.7.23 30.6.24 30.6.24 Medium entities Investment property. true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh089982992023-06-30089982992024-06-30089982992023-07-012024-06-30089982992022-06-30089982992022-07-012023-06-30089982992023-06-3008998299ns15:EnglandWales2023-07-012024-06-3008998299ns14:PoundSterling2023-07-012024-06-3008998299ns10:Director12023-07-012024-06-3008998299ns10:Director22023-07-012024-06-3008998299ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3008998299ns10:MediumEntities2023-07-012024-06-3008998299ns10:Audited2023-07-012024-06-3008998299ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-07-012024-06-3008998299ns10:Medium-sizedCompaniesRegimeForAccounts2023-07-012024-06-3008998299ns10:FullAccounts2023-07-012024-06-3008998299ns10:OrdinaryShareClass12023-07-012024-06-3008998299ns10:CompanySecretary12023-07-012024-06-3008998299ns10:RegisteredOffice2023-07-012024-06-3008998299ns5:CurrentFinancialInstruments2024-06-3008998299ns5:CurrentFinancialInstruments2023-06-3008998299ns5:Non-currentFinancialInstruments2024-06-3008998299ns5:Non-currentFinancialInstruments2023-06-3008998299ns5:ShareCapital2024-06-3008998299ns5:ShareCapital2023-06-3008998299ns5:RetainedEarningsAccumulatedLosses2024-06-3008998299ns5:RetainedEarningsAccumulatedLosses2023-06-3008998299ns5:ShareCapital2022-06-3008998299ns5:RetainedEarningsAccumulatedLosses2022-06-3008998299ns5:RetainedEarningsAccumulatedLosses2022-07-012023-06-3008998299ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-300899829912023-07-012024-06-300899829912022-07-012023-06-300899829932023-07-012024-06-300899829932022-07-012023-06-3008998299ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3008998299ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3008998299ns5:Non-currentFinancialInstruments2023-07-012024-06-3008998299ns5:DeferredTaxation2023-06-3008998299ns5:DeferredTaxation2023-07-012024-06-3008998299ns5:DeferredTaxation2024-06-3008998299ns10:OrdinaryShareClass12024-06-3008998299ns5:RetainedEarningsAccumulatedLosses2023-06-3008998299ns10:Director222023-06-3008998299ns10:Director222022-06-3008998299ns10:Director222023-07-012024-06-3008998299ns10:Director222022-07-012023-06-3008998299ns10:Director222024-06-3008998299ns10:Director222023-06-30089982991ns10:Director12023-06-30089982991ns10:Director12022-06-30089982991ns10:Director12023-07-012024-06-30089982991ns10:Director12022-07-012023-06-30089982991ns10:Director12024-06-30089982991ns10:Director12023-06-30
REGISTERED NUMBER: 08998299 (England and Wales)












STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

ONE HUNDRED PROPERTY GROUP LTD

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


ONE HUNDRED PROPERTY GROUP LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A Hassan
M R Ison





SECRETARY: A Hassan





REGISTERED OFFICE: 1 Pindar Road
Hoddesdon
Hertfordshire
EN11 0BZ





REGISTERED NUMBER: 08998299 (England and Wales)





AUDITORS: Affinia (Colchester)
The Octagon
Suite 2E, 2nd Floor
Middleborough
Colchester
Essex
CO1 1TG

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
One Hundred Property Group is a property development and letting company. The company purchases and modernises properties within the UK.

PRINCIPAL RISKS AND UNCERTAINTIES
Interest rates
The Bank of England has in recent times increased the base rate of interest. It is therefore expected that the cost of borrowing over time will also increase.

The business has a fixed rate mortgage until 2026 which limits the financial risks associated with interest rate increases until atleast 2026.

FINANCIAL REVIEW
During the year turnover increased by £351 (0.2.%) and gross profit increased by £3,800 (2.2%).

ON BEHALF OF THE BOARD:





A Hassan - Director


14 March 2025

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

A Hassan
M R Ison

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Affinia (Colchester), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A Hassan - Director


14 March 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ONE HUNDRED PROPERTY GROUP LTD

Opinion
We have audited the financial statements of One Hundred Property Group Ltd (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ONE HUNDRED PROPERTY GROUP LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Our audit approach has assessed and tested a number of areas where we deemed there to be the greatest risk of a material error due to fraud or non compliance with key laws and we have obtained sufficient appropriate evidence as required, however we cannot guarantee these financial statements are free from such errors.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ONE HUNDRED PROPERTY GROUP LTD


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Andrew Robert Graham Green (Senior Statutory Auditor)
for and on behalf of Affinia (Colchester)
The Octagon
Suite 2E, 2nd Floor
Middleborough
Colchester
Essex
CO1 1TG

14 March 2025

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 190,351 190,000

Cost of sales 12,124 15,709
GROSS PROFIT 178,227 174,291

Administrative expenses 8,080 16,596
170,147 157,695

Other operating income - 136
OPERATING PROFIT 4 170,147 157,831

Gain/loss on revaluation of investment
property

450,000

500,000
620,147 657,831

Interest payable and similar expenses 5 182,600 70,440
PROFIT BEFORE TAXATION 437,547 587,391

Tax on profit 6 112,500 142,953
PROFIT FOR THE FINANCIAL YEAR 325,047 444,438

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 325,047 444,438


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

325,047

444,438

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 7 6,050,000 5,600,000

CURRENT ASSETS
Debtors 8 188,338 184,684
Cash at bank 8,713 16,262
197,051 200,946
CREDITORS
Amounts falling due within one year 9 2,968,144 2,959,586
NET CURRENT LIABILITIES (2,771,093 ) (2,758,640 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,278,907 2,841,360

CREDITORS
Amounts falling due after more than one
year

10

(1,854,595

)

(1,854,595

)

PROVISIONS FOR LIABILITIES 12 (405,719 ) (293,219 )
NET ASSETS 1,018,593 693,546

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 1,018,493 693,446
SHAREHOLDERS' FUNDS 1,018,593 693,546

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:




A Hassan - Director



M R Ison - Director


ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 100 249,008 249,108

Changes in equity
Total comprehensive income - 444,438 444,438
Balance at 30 June 2023 100 693,446 693,546

Changes in equity
Total comprehensive income - 325,047 325,047
Balance at 30 June 2024 100 1,018,493 1,018,593

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 161,101 144,227
Interest paid (182,600 ) (70,440 )
Tax paid 1,350 (11,371 )
Net cash from operating activities (20,149 ) 62,416

Cash flows from financing activities
New loans in year 500,000 -
Amount withdrawn by directors (4,000 ) (53,000 )
Movement in Group undertakings balances (483,400 ) 5,900
Net cash from financing activities 12,600 (47,100 )

(Decrease)/increase in cash and cash equivalents (7,549 ) 15,316
Cash and cash equivalents at beginning of
year

2

16,262

946

Cash and cash equivalents at end of year 2 8,713 16,262

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2024 2023
£    £   
Profit before taxation 437,547 587,391
Gain on revaluation of fixed assets (450,000 ) (500,000 )
Finance costs 182,600 70,440
170,147 157,831
Decrease/(increase) in trade and other debtors 346 (19,858 )
(Decrease)/increase in trade and other creditors (9,392 ) 6,254
Cash generated from operations 161,101 144,227

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 June 2024
30/6/24 1/7/23
£    £   
Cash and cash equivalents 8,713 16,262
Year ended 30 June 2023
30/6/23 1/7/22
£    £   
Cash and cash equivalents 16,262 946


3. ANALYSIS OF CHANGES IN NET DEBT

At 1/7/23 Cash flow At 30/6/24
£    £    £   
Net cash
Cash at bank 16,262 (7,549 ) 8,713
16,262 (7,549 ) 8,713
Debt
Debts falling due within 1 year - (500,000 ) (500,000 )
Debts falling due after 1 year (1,854,595 ) - (1,854,595 )
(1,854,595 ) (500,000 ) (2,354,595 )
Total (1,838,333 ) (507,549 ) (2,345,882 )

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

One Hundred Property Group Ltd 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principle accounting policies are set out below.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. Turnover represents rental income receivable.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are 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.

3. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 30 June 2024 nor for the year ended 30 June 2023.

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Directors 2 2

2024 2023
£    £   
Directors' remuneration - -

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Auditors' remuneration 3,740 4,000

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 182,600 67,507
Other interest payable - 2,933
182,600 70,440

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 17,953

Deferred tax 112,500 125,000
Tax on profit 112,500 142,953

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 5,600,000
Revaluations 450,000
At 30 June 2024 6,050,000
NET BOOK VALUE
At 30 June 2024 6,050,000
At 30 June 2023 5,600,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2021 672,875
Valuation in 2023 500,000
Valuation in 2024 450,000
Cost 4,427,125
6,050,000

Investment properties were measured at fair value at the reporting end date by the directors.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 63,376 62,026
Amount due from related party 21,238 21,238
Directors' current accounts 97,000 93,000
Prepayments 6,724 8,420
188,338 184,684

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 11) 500,000 -
Trade creditors 3,781 9,754
Amounts owed to group undertakings 2,371,694 2,855,094
Tax 64,921 63,571
Accruals and deferred income 27,748 31,167
2,968,144 2,959,586

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 11) 1,854,595 1,854,595

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

Creditors amounts falling due after more than one year includes amounts totalling £1,854,595 which are secured by way a first legal charge over property owned by the company with a carrying value of £3,000,000
The Directors have also provided personal guarantees for the borrowings

11. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 500,000 -

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,854,595 1,854,595

12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 405,719 293,219

Deferred
tax
£   
Balance at 1 July 2023 293,219
Provided during year 112,500
Balance at 30 June 2024 405,719

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

14. RESERVES
Retained
earnings
£   

At 1 July 2023 693,446
Profit for the year 325,047
At 30 June 2024 1,018,493

ONE HUNDRED PROPERTY GROUP LTD (REGISTERED NUMBER: 08998299)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

15. ULTIMATE PARENT COMPANY

Bolt Shoes Holdings Limited is regarded by the directors as being the company's ultimate parent company.

The registered office of the ultimate holding company is:

1 Pindar Road
Hoddesdon
EN11 0BZ

16. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

The company has provided security for a loan taken out by One Hundred Commercial Limited, a related company under common control, by way of a first legal charge over property owned with a carrying value of £2,600,000.

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
M R Ison
Balance outstanding at start of year 46,500 20,000
Amounts advanced 2,000 26,500
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,500 46,500

A Hassan
Balance outstanding at start of year 46,500 20,000
Amounts advanced 2,000 26,500
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 48,500 46,500

18. RELATED PARTY DISCLOSURES

At the year end the company was owed £21,238 (2023: £21,238) by a related company under the control of one of the directors.

At the year end the company owed £20,000 (2023: £20,000) to a related company under common control of the directors.

At the year end the company owed £2,351,694 (2023: £2,229,501) to the parent company and £NIL (2023: £605,593) to a fellow subsidiary company.