Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-01-01falseproperty investment for rental income77falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01276515 2024-01-01 2024-12-31 01276515 2023-01-01 2023-12-31 01276515 2024-12-31 01276515 2023-12-31 01276515 2023-01-01 01276515 c:Director3 2024-01-01 2024-12-31 01276515 d:OfficeEquipment 2024-01-01 2024-12-31 01276515 d:OfficeEquipment 2024-12-31 01276515 d:OfficeEquipment 2023-12-31 01276515 d:OfficeEquipment d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01276515 d:ComputerEquipment 2024-01-01 2024-12-31 01276515 d:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 01276515 d:FreeholdInvestmentProperty 2024-12-31 01276515 d:FreeholdInvestmentProperty 2023-12-31 01276515 d:CurrentFinancialInstruments 2024-12-31 01276515 d:CurrentFinancialInstruments 2023-12-31 01276515 d:Non-currentFinancialInstruments 2024-12-31 01276515 d:Non-currentFinancialInstruments 2023-12-31 01276515 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01276515 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01276515 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 01276515 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 01276515 d:ShareCapital 2024-12-31 01276515 d:ShareCapital 2023-12-31 01276515 d:SharePremium 2024-12-31 01276515 d:SharePremium 2023-12-31 01276515 d:CapitalRedemptionReserve 2024-12-31 01276515 d:CapitalRedemptionReserve 2023-12-31 01276515 d:InvestmentPropertiesRevaluationReserve 2024-12-31 01276515 d:InvestmentPropertiesRevaluationReserve 2023-12-31 01276515 d:RetainedEarningsAccumulatedLosses 2024-12-31 01276515 d:RetainedEarningsAccumulatedLosses 2023-12-31 01276515 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 01276515 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01276515 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 01276515 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 01276515 d:RetirementBenefitObligationsDeferredTax 2024-12-31 01276515 d:RetirementBenefitObligationsDeferredTax 2023-12-31 01276515 d:OtherDeferredTax 2024-12-31 01276515 d:OtherDeferredTax 2023-12-31 01276515 c:OrdinaryShareClass1 2024-01-01 2024-12-31 01276515 c:OrdinaryShareClass2 2024-01-01 2024-12-31 01276515 c:OrdinaryShareClass2 2024-12-31 01276515 c:OrdinaryShareClass3 2024-01-01 2024-12-31 01276515 c:OrdinaryShareClass3 2024-12-31 01276515 c:OrdinaryShareClass4 2024-01-01 2024-12-31 01276515 c:OrdinaryShareClass4 2024-12-31 01276515 c:OrdinaryShareClass5 2024-01-01 2024-12-31 01276515 c:OrdinaryShareClass5 2024-12-31 01276515 c:FRS102 2024-01-01 2024-12-31 01276515 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 01276515 c:FullAccounts 2024-01-01 2024-12-31 01276515 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01276515 6 2024-01-01 2024-12-31 01276515 2 2024-12-31 01276515 2 2023-12-31 01276515 f:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 01276515









HTS ESTATES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
HTS ESTATES LIMITED
REGISTERED NUMBER: 01276515

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
3,695
6,951

Investments
 5 
200
200

Investment property
 6 
6,162,059
6,162,059

  
6,165,954
6,169,210

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 7 
5,780,385
5,852,850

Cash at bank and in hand
  
498,615
243,537

  
6,279,000
6,096,387

Creditors: amounts falling due within one year
 8 
(702,256)
(611,544)

NET CURRENT ASSETS
  
 
 
5,576,744
 
 
5,484,843

TOTAL ASSETS LESS CURRENT LIABILITIES
  
11,742,698
11,654,053

Creditors: amounts falling due after more than one year
 9 
(4,433,387)
(4,494,208)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 10 
(641,752)
(626,239)

  
 
 
(641,752)
 
 
(626,239)

NET ASSETS
  
6,667,559
6,533,606


CAPITAL AND RESERVES
  

Called up share capital 
 11 
28,000
16,000

Share premium account
  
194,962
164,962

Capital redemption reserve
  
4,000
4,000

Investment property reserve
  
2,708,426
2,708,426

Profit and loss account
  
3,732,171
3,640,218

  
6,667,559
6,533,606


Page 1

 
HTS ESTATES LIMITED
REGISTERED NUMBER: 01276515
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 directors acknowledge their 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 profit and loss account 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: 




Mr N L Brown
Director

Date: 27 March 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


GENERAL INFORMATION

HTS Estates Limited is private company limited by shares and incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA. Its principal trading address is 55 Eltisley Avenue, Cambridge, CB3 9JQ.
The Company's functional and presentational currency is GBP.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises rental revenue recognised by the Company exclusive of Value Added Tax.

 
2.3

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:

Computer equipment
-
33%
straight line
Office equipment
-
20%
straight line

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.

 
2.4

INVESTMENT PROPERTY

Investment property is carried at fair value determined annually by the directors based on market derived evidence normally undertaken by professionally qualified valuers. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

Page 3

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.5

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

DIVIDENDS

Equity dividends are recognised when they become legally payable.

 
2.11

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

BORROWING COSTS

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

Page 4

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.13

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


EMPLOYEES




The average monthly number of employees, including directors, during the year was 7 (2023 - 7).

Page 5

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


TANGIBLE FIXED ASSETS





Computer and office equipment

£



COST OR VALUATION


At 1 January 2024
36,138


Additions
67



At 31 December 2024

36,205



DEPRECIATION


At 1 January 2024
29,187


Charge for the year on owned assets
3,323



At 31 December 2024

32,510



NET BOOK VALUE



At 31 December 2024
3,695



At 31 December 2023
6,951

Page 6

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



COST OR VALUATION


At 1 January 2024
200
13,335
13,535



At 31 December 2024

200
13,335
13,535



IMPAIRMENT


At 1 January 2024
-
13,335
13,335



At 31 December 2024

-
13,335
13,335



NET BOOK VALUE



At 31 December 2024
200
-
200



At 31 December 2023
200
-
200

Page 7

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 January 2024
6,162,059



AT 31 DECEMBER 2024
6,162,059

The valuations were made by the directors, on an open market value for existing use basis, based on professional advice received. 



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
2,974,170
2,974,170

2,974,170
2,974,170


7.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
58,271
70,516

Amounts owed by group undertakings
5,712,007
5,727,947

Prepayments and accrued income
10,107
54,387

5,780,385
5,852,850


Page 8

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
54,097
20,328

Other taxation and social security
50,721
44,365

Other creditors
359,824
379,999

Accruals and deferred income
237,614
166,852

702,256
611,544


Included within other creditors is a year end pension liability of £143 (2023 - £133), which is comprised of the pension contributions due for the month ended December 2024.


9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
3,164,944
3,165,338

Other creditors
1,268,443
1,328,870

4,433,387
4,494,208


Secured loans
The bank loans are secured by a fixed charge over the Company's freehold investment property. All loans are interest only and held with Cambridge Building Society and are due for repayment in over 12 months from the balance sheet date.

Page 9

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
626,239
602,054


Charged to profit or loss
15,513
24,185



AT END OF YEAR
641,752
626,239

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
162,305
157,156

Unrealised gains on investment property
479,463
479,463

Short term timing differences
(16)
(14)

Losses and other deductions
-
(10,366)

641,752
626,239

Page 10

 
HTS ESTATES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



16,000 Ordinary shares of £1 each
-
16,000
4,000 A1 Ordinary shares of £1 each
4,000
-
4,000 A2 Ordinary shares of £1 each
4,000
-
8,000 A3 Ordinary shares of £1 each
8,000
-
2,000 B Ordinary shares of £1 each
2,000
-
2,000 C Ordinary shares of £1 each
2,000
-
2,000 D Ordinary shares of £1 each
2,000
-
1,500 E Ordinary shares of £1 each
1,500
-
1,500 F Ordinary shares of £1 each
1,500
-
1,500 G Ordinary shares of £1 each
1,500
-
1,500 H Ordinary shares of £1 each
1,500
-

28,000

16,000


On 4 November 2024, the 16,000 Ordinary shares were redesignated into 4,000 A1 Ordinary shares, 4,000 A2 Ordinary shares and 8,000 A3 Ordinary shares, all with nominal value of £1 each. 
Following this, also on 4 November 2024, the following shares were issued:
- 2,000 B Ordinary shares of £1 each were issued at a rate of £3.50 per share. 
- 2,000 C Ordinary shares of £1 each were issued at a rate of £3.50 per share.
- 2,000 D Ordinary shares of £1 each were issued at a rate of £3.50 per share.
- 1,500 E Ordinary shares of £1 each were issued at a rate of £3.50 per share.
- 1,500 F Ordinary shares of £1 each were issued at a rate of £3.50 per share.
- 1,500 G Ordinary shares of £1 each were issued at a rate of £3.50 per share.
- 1,500 H Ordinary shares of £1 each were issued at a rate of £3.50 per share.

 
Page 11