Hydd Property Management Ltd |
Registered number: |
12488997 |
Balance Sheet |
as at 28 February 2025 |
|
Notes |
|
|
2025 |
|
|
2024 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
117,866 |
|
|
- |
|
Current assets |
Cash at bank and in hand |
|
|
1,295 |
|
|
1 |
|
Creditors: amounts falling due within one year |
4 |
|
(46,900) |
|
|
(812) |
|
Net current liabilities |
|
|
|
(45,605) |
|
|
(811) |
|
Total assets less current liabilities |
|
|
|
72,261 |
|
|
(811) |
|
Creditors: amounts falling due after more than one year |
5 |
|
|
(81,246) |
|
|
- |
|
|
|
Net liabilities |
|
|
|
(8,985) |
|
|
(811) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
(9,085) |
|
|
(911) |
|
Shareholder's funds |
|
|
|
(8,985) |
|
|
(811) |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The member has not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
Aaron Wainwright |
Director |
Approved by the board on 11 April 2025 |
|
Hydd Property Management Ltd |
Notes to the Accounts |
for the year ended 28 February 2025 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is rental income incurred during the year from investment properties held. Revenue from the provision of rental properties is recognised over the period of rent, when and to the extent that, the company obtains the right to consideration in exchange for services provided. To date no turnover recognised, first property acquired Feb 25. |
|
|
Tangible fixed assets |
|
Tangible fixed assets include residential investment properties that are held for earning rental income and capital appreciation. No depreciation has been provided on these due to their capital appreciation in value. Other tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2025 |
|
2024 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
Additions |
117,866 |
|
At 28 February 2025 |
117,866 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 28 February 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 28 February 2025 |
117,866 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
£ |
£ |
|
Historical cost |
117,866 |
|
- |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
117,866 |
|
- |
|
|
4 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
£ |
£ |
|
|
Accruals |
324 |
|
- |
|
Director's account |
812 |
|
- |
|
AW6 Promotions Limited |
42,000 |
|
- |
|
Mortgages < 1 year |
3,764 |
|
- |
|
Other creditors |
- |
|
812 |
|
|
|
|
|
|
46,900 |
|
812 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
£ |
£ |
|
|
Mortgages > 1 year |
|
|
|
|
81,246 |
|
- |
|
|
|
|
|
|
|
|
|
|
6 |
Mortgages |
2025 |
|
2024 |
£ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
85,010 |
|
- |
|
|
|
|
|
|
|
|
|
|
Buy to let mortgages are secured on rental property. |
|
|
7 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
Aaron Wainwright |
|
Directors loan account |
659 |
|
- |
|
153 |
|
812 |
|
|
|
659 |
|
- |
|
153 |
|
812 |
|
|
|
|
|
|
|
|
|
|
The director operates a current loan account with the company, which is debited with payments made by the company on behalf of the director and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to the director was £812 This amount being included in Creditors: amounts falling due within one year. |
|
|
|
|
8 |
Related party transactions |
|
|
During the year the company was loaned money from AW6 Promotions Ltd. At the year end the amount owed to AW6 Promotions Ltd was £42,000 this amount is included in Creditors: amounts falling due within one year. Mr A Wainwright is sole shareholder and director of both AW6 Promotions Ltd and Hydd Property Management Limited. |
|
|
9 |
Controlling party |
|
|
The ultimate controlling party with 100% ownership is Mr A Wainwright. |
|
|
10 |
Other information |
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|
Hydd Property Management Ltd is a private company limited by shares and incorporated in Wales. Its registered office is: |
|
C/o Crow Valley Accountancy Ltd |
|
Suite 9, Torfaen Business Centre, |
|
Panteg Way, New Inn, |
|
Gwent |
|
NP4 0LS |