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Registered number: 07827372









3H PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
3H PROPERTIES LIMITED
REGISTERED NUMBER: 07827372

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
219,372
220,267

  
219,372
220,267

Current assets
  

Debtors: amounts falling due within one year
 5 
2,697
82

Cash at bank and in hand
 6 
22,737
5,946

  
25,434
6,028

Creditors: amounts falling due within one year
 7 
(9,992)
(7,495)

Net current assets/(liabilities)
  
 
 
15,442
 
 
(1,467)

Total assets less current liabilities
  
234,814
218,800

Creditors: amounts falling due after more than one year
 8 
(277,368)
(272,945)

  

Net liabilities
  
(42,554)
(54,145)


Capital and reserves
  

Called up share capital 
 10 
3
3

Profit and loss account
  
(42,557)
(54,148)

  
(42,554)
(54,145)


Page 1

 
3H PROPERTIES LIMITED
REGISTERED NUMBER: 07827372
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Talal Samir El Ghaoui
Director

Date: 19 March 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
3H PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

3H Properties Limited is a private company limited by shares, registered in England and Wales. Its registered office is Yew Tree Hotel, Yew Tree Lane, Manchester, England, M23 0FF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
3H PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
2%
Plant and machinery
-
20%
Fixtures and fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
3H PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 November 2023
215,000
38,105
11,147
264,252


Additions
-
-
914
914


Disposals
-
(38,105)
-
(38,105)



At 31 October 2024

215,000
-
12,061
227,061



Depreciation


At 1 November 2023
-
38,105
5,880
43,985


Charge for the year on owned assets
-
-
1,809
1,809


Disposals
-
(38,105)
-
(38,105)



At 31 October 2024

-
-
7,689
7,689



Net book value



At 31 October 2024
215,000
-
4,372
219,372



At 31 October 2023
215,000
-
5,267
220,267

The investment property was valued by the director at 31 October 2024 on an open market existing use basis. Historical cost of the property was £215,000.


5.


Debtors

2024
2023
£
£


Trade debtors
2,379
-

Other debtors
-
82

Prepayments and accrued income
318
-

2,697
82

Page 5

 
3H PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.Debtors (continued)



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,737
5,946

22,737
5,946



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,017
515

Other taxation and social security
1,835
-

Other creditors
5,520
5,520

Accruals and deferred income
1,620
1,460

9,992
7,495



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,122
12,502

Other creditors
270,246
260,443

277,368
272,945


Page 6

 
3H PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£


Amounts falling due 1-2 years

Bank loans
7,122
12,502


7,122
12,502



7,122
12,502


Included in bank loans after more than one year is an unsecured bounce back loan. The loan is subject to interest at the rate of 2.5% per annum and is fully backed by the UK goverment under the BBLS rules.


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3 (2023 - 3) Ordinary shares of £1 each
3
3



11.


Transactions with directors

Included within other creditors due after more than one year is a loan to the director in the amount of £270,246 (2023: £260,443). The loan is interest free and repayable on demand.

 
Page 7