Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-3152024-01-01falseThe principal activity of the Company during the year was that of residential property investment for rental income.5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09735008 2024-01-01 2024-12-31 09735008 2023-01-01 2023-12-31 09735008 2024-12-31 09735008 2023-12-31 09735008 2023-01-01 09735008 c:Director3 2024-01-01 2024-12-31 09735008 d:FreeholdInvestmentProperty 2024-12-31 09735008 d:FreeholdInvestmentProperty 2023-12-31 09735008 d:CurrentFinancialInstruments 2024-12-31 09735008 d:CurrentFinancialInstruments 2023-12-31 09735008 d:Non-currentFinancialInstruments 2024-12-31 09735008 d:Non-currentFinancialInstruments 2023-12-31 09735008 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 09735008 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09735008 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 09735008 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09735008 d:ShareCapital 2024-12-31 09735008 d:ShareCapital 2023-12-31 09735008 d:InvestmentPropertiesRevaluationReserve 2024-12-31 09735008 d:InvestmentPropertiesRevaluationReserve 2023-12-31 09735008 d:RetainedEarningsAccumulatedLosses 2024-12-31 09735008 d:RetainedEarningsAccumulatedLosses 2023-12-31 09735008 d:AcceleratedTaxDepreciationDeferredTax 2024-12-31 09735008 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09735008 d:TaxLossesCarry-forwardsDeferredTax 2024-12-31 09735008 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 09735008 d:RetirementBenefitObligationsDeferredTax 2024-12-31 09735008 d:RetirementBenefitObligationsDeferredTax 2023-12-31 09735008 c:OrdinaryShareClass1 2024-01-01 2024-12-31 09735008 c:OrdinaryShareClass1 2024-12-31 09735008 c:FRS102 2024-01-01 2024-12-31 09735008 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 09735008 c:FullAccounts 2024-01-01 2024-12-31 09735008 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 09735008 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09735008









HTS RESIDENTIAL LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
HTS RESIDENTIAL LIMITED
REGISTERED NUMBER: 09735008

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Investment property
 4 
15,030,804
15,030,804

  
15,030,804
15,030,804

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
28,521
30,365

Cash at bank and in hand
  
71,598
104,190

  
100,119
134,555

Creditors: amounts falling due within one year
 6 
(5,467,558)
(5,529,108)

NET CURRENT LIABILITIES
  
 
 
(5,367,439)
 
 
(5,394,553)

TOTAL ASSETS LESS CURRENT LIABILITIES
  
9,663,365
9,636,251

Creditors: amounts falling due after more than one year
 7 
(7,950,000)
(7,950,000)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(665,361)
(658,583)

  
 
 
(665,361)
 
 
(658,583)

NET ASSETS
  
1,048,004
1,027,668


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Investment property reserve
  
317,511
317,511

Profit and loss account
  
730,393
710,057

  
1,048,004
1,027,668


Page 1

 
HTS RESIDENTIAL LIMITED
REGISTERED NUMBER: 09735008
    
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 7 form part of these financial statements.

Page 2

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

1.


GENERAL INFORMATION

HTS Residential 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

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.

 
2.4

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.

 
2.5

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.

 
2.6

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 3

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

PENSIONS

The Company operates a defined contribution plan for its directors. 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.

 
2.8

BORROWING COSTS

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

 
2.9

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.

 
2.10

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.


Page 4

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

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).


4.


INVESTMENT PROPERTY


Freehold investment property

£



VALUATION


At 1 January 2024
15,030,804



AT 31 DECEMBER 2024
15,030,804





The valuations were made by 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
14,089,876
14,089,876

14,089,876
14,089,876

Page 5

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

5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
25,620
28,267

Prepayments and accrued income
2,901
2,098

28,521
30,365



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
276
991

Amounts owed to group undertakings
5,358,015
5,379,315

Other creditors
40,912
40,792

Accruals and deferred income
68,355
108,010

5,467,558
5,529,108



7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
7,950,000
7,950,000

7,950,000
7,950,000


Secured loans
The bank loan from Principality Bank is secured by a fixed charge over the Company's freehold investment property. The loan facility is provided on an interest only basis and is to be repaid in full on 21 July 2029 unless renegotiated.

Page 6

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

8.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
658,583
655,573


Charged to profit or loss
6,778
3,010



AT END OF YEAR
665,361
658,583

2024
2023
£
£


Accelerated capital allowances
321,105
312,375

Tax losses carried forward
(279,161)
(277,209)

Capital gains
623,417
623,417

665,361
658,583


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 Ordinary shares of £1 each
100
100


 
Page 7