Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investment Property | 3 | ||||||
Current assets | |||||||
Debtors | 4 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current liabilities | ( |
( |
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Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 6 | ( |
( |
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Provisions for liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Other reserves | |||||||
Profit and loss account | |||||||
Shareholder's funds | |||||||
F. S. Ahmed | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Borrowing costs | ||||||||
All borrowing costs are recognised in profit or loss in the year in which they are incurred. | ||||||||
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. | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Investment property | ||||||||
Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. | ||||||||
Financial instruments | ||||||||
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. | ||||||||
2 | Employees and directors | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of directors and persons employed by the | ||||||||
company | ||||||||
Freehold | ||||||||
3 | Investment property | investment | ||||||
property | ||||||||
£ | ||||||||
Valuation | ||||||||
At 1 May 2023 | ||||||||
Additions | ||||||||
Surplus on revaluation | ||||||||
At 30 April 2024 | ||||||||
The property investment has been valued by the director for an amount £2,000,000 as at 30 April 2024 (2023: £1,700,000). | ||||||||
The historical cost of the property is £1,604,533 (2023: £1,541,783). | ||||||||
4 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Prepayments | 1,512 | 1,512 | ||||||
Other debtors | 3,552 | 950 | ||||||
5 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans and overdrafts | ||||||||
Trade creditors | ||||||||
Accruals and deferred income | ||||||||
Corporation tax | 4,021 | 11,988 | ||||||
Other taxes and social security costs | ||||||||
Other creditors | ||||||||
6 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans | ||||||||
7 | Loans | 2024 | 2023 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Secured bank loans | 1,081,606 | 1,081,103 | ||||||
8 | Deferred taxation | 2024 | 2023 | |||||
£ | £ | |||||||
Charged to profit or loss | (59,313) | (39,554) | ||||||
At end of year | (59,313) | (39,554) | ||||||
The deferred taxation balance is made up as follows: | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
Property revaluation | 237,250 | 158,217 | ||||||
237,250 | 158,217 | |||||||
9 | Reserves | |||||||
Other reserves | ||||||||
The other reserve represents the movement in fair value of the investment property less any associated deferred tax. The other reserve is a non distributable reserve. Profit and loss account The profit and loss reserve includes the cumulated profit and loss less the dividends distributed during the year. |
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10 | Other information | |||||||
HERFORD LIMITED is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
Linen Hall 162-168 Regent Street, Room 318 | ||||||||
London | ||||||||
England | ||||||||
W1B 5TB |