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REGISTERED NUMBER: 10631124 (England and Wales)




























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

HERON PLACE PROPERTY LTD

HERON PLACE PROPERTY LTD (REGISTERED NUMBER: 10631124)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 6

HERON PLACE PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Miss S M Spencer
D F Tarrant





REGISTERED OFFICE: Serendipity
Fernhill Lane
New Milton
Hampshire
BH25 5SX





REGISTERED NUMBER: 10631124 (England and Wales)





ACCOUNTANTS: Hanley & Co
Chartered Accountants
Suite 204 Ashton Old Baths
Stamford Street West
Ashton-under-Lyne
Lancashire
OL6 7FW

HERON PLACE PROPERTY LTD (REGISTERED NUMBER: 10631124)

ABRIDGED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 950,000 830,000

CURRENT ASSETS
Cash at bank 14,548 8,384

CREDITORS
Amounts falling due within one year 150,081 151,609
NET CURRENT LIABILITIES (135,533 ) (143,225 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

814,467

686,775

CREDITORS
Amounts falling due after more than one
year

5

(605,414

)

(609,531

)

PROVISIONS FOR LIABILITIES (35,725 ) (3,475 )
NET ASSETS 173,328 73,769

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 6 102,563 14,813
Retained earnings 70,665 58,856
173,328 73,769

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

HERON PLACE PROPERTY LTD (REGISTERED NUMBER: 10631124)

ABRIDGED BALANCE SHEET - continued
31 MARCH 2024


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

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2025 and were signed on its behalf by:





Miss S M Spencer - Director


HERON PLACE PROPERTY LTD (REGISTERED NUMBER: 10631124)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Heron Place Property 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is the value of rents receivable in the period.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

The average number of employees during the year was NIL (2023 - NIL).

HERON PLACE PROPERTY LTD (REGISTERED NUMBER: 10631124)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 830,000
Revaluations 120,000
At 31 March 2024 950,000
NET BOOK VALUE
At 31 March 2024 950,000
At 31 March 2023 830,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 8,288
Valuation in 2021 10,000
Valuation in 2024 120,000
Cost 811,712
950,000

If had not been revalued would have been included at the following historical cost:

2024 2023
£    £   
Cost 830,000 830,000

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

Long term creditors are interest-only mortgages.

6. RESERVES
Revaluation
reserve
£   
At 1 April 2023 14,813
Property revaluation 87,750

At 31 March 2024 102,563

7. RELATED PARTY DISCLOSURES

Creditors includes an interest free amount owed to the directors of £142,170 (2023 - £147,650).

The management charge is an armslength rate for genuine work done, to a connected party.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HERON PLACE PROPERTY LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heron Place Property Ltd for the year ended 31 March 2024 which comprise the Abridged Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Heron Place Property Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Heron Place Property Ltd and state those matters that we have agreed to state to the Board of Directors of Heron Place Property Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heron Place Property Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Heron Place Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Heron Place Property Ltd. You consider that Heron Place Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Heron Place Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Hanley & Co
Chartered Accountants
Suite 204 Ashton Old Baths
Stamford Street West
Ashton-under-Lyne
Lancashire
OL6 7FW


26 March 2025