ACCOUNTS - Final Accounts

Registered number: 01736649

HAMLET PROPERTY DEVELOPMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

HAMLET PROPERTY DEVELOPMENTS LIMITED

REGISTERED NUMBER: 01736649

BALANCE SHEET

AS AT 31 JULY 2024

	2024	2024	2023	2023
Note	£	£	£	£


Current assets
Debtors: amounts falling due within one year	5	130,337		130,422
Cash at bank and in hand		1,296		1,181
		131,633		131,603
Creditors: amounts falling due within one year	6	(253,042)		(275,886)
Net current liabilities			(121,409)		(144,283)
Total assets less current liabilities			(121,409)		(144,283)

Net liabilities			(121,409)		(144,283)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(121,509)	(144,383)
	(121,409)	(144,283)

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 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 on 25 February 2025.

................................................

D J Lichtig Esq

Director

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HAMLET PROPERTY DEVELOPMENTS LIMITED

REGISTERED NUMBER: 01736649

BALANCE SHEET (CONTINUED)

AS AT 31 JULY 2024

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

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HAMLET PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

1.	General information

Hamlet Property Developments Limited ("the Company") operates in property management. The Company is a private Company limited by shares and incorporated in England and Wales. The address of its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA.

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

Going concern

As part of their going concern review, the directors' have followed the guidelines published by the Financial Reporting Council entitled "Going Concern and Liquidity Risk Guidance for UK Companies 2009". The directors' have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. On this basis the directors' consider that the going concern basis of accounting remains appropriate.

2.3

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.

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HAMLET PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

2.4

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following annual basis:

Fixtures and fittings

25% reducing balance

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 the Statement of income and retained earnings.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.6

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.

2.7

Creditors

Short term creditors are measured at the transaction price.

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HAMLET PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

2.8

Taxation

Tax is recognised in the Statement of income and retained earnings 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.

Employees

The average monthly number of employees, including the director, during the year was 1 (2023 - 2).

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HAMLET PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost
	At 1 August 2023	4,043
	At 31 July 2024	4,043
	Depreciation
	At 1 August 2023	4,043
	At 31 July 2024	4,043
	Net book value
	At 31 July 2024	-
	At 31 July 2023	-

Debtors

					2024	2023
					£	£


Trade debtors	130,000	130,000
Other debtors	337	422
	130,337	130,422

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	12,678	13,631
Amounts owed to group undertakings	228,651	249,760
Corporation tax	6,541	7,995
Accruals	5,172	4,500
	253,042	275,886

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HAMLET PROPERTY DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

7.Guarantees

Hamlet Property Developments Limited is a guarantor for the bank borrowings of Hamlet Property (Alton) LLP, a fellow subsidiary. At the balance sheet date the amounts so guaranteed amounted to £635,000 (2023 - £835,000). The amounts so guaranteed are secured by a debenture dated 11 July 2013 incorporating a fixed and floating charge over the Company and all its present and future property and assets.

8.	Related party transactions
	During the year the Company engaged in transactions with an entity holding a participating interest in the Company. At the balance sheet date the Company owed this entity £88,941 (2023 - £98,023).

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