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REGISTERED NUMBER: 09167528 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

HB PROPERTIES & LETTING LTD

HB PROPERTIES & LETTING LTD (REGISTERED NUMBER: 09167528)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

HB PROPERTIES & LETTING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: I Albizreh
A Al Bizreh





REGISTERED OFFICE: 3 Durrant Road
Bournemouth
Dorset
BH2 6NE





REGISTERED NUMBER: 09167528 (England and Wales)





ACCOUNTANTS: Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE

HB PROPERTIES & LETTING LTD (REGISTERED NUMBER: 09167528)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 39,163 5,558
Investment property 5 4,195,000 4,000,000
4,234,163 4,005,558

CURRENT ASSETS
Debtors 6 1,239 52,186
Cash at bank 32,436 13,928
33,675 66,114
CREDITORS
Amounts falling due within one year 7 3,244,352 3,146,927
NET CURRENT LIABILITIES (3,210,677 ) (3,080,813 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,023,486

924,745

CREDITORS
Amounts falling due after more than one
year

8

(28,189

)

-

PROVISIONS FOR LIABILITIES (244,582 ) (213,557 )
NET ASSETS 750,715 711,188

HB PROPERTIES & LETTING LTD (REGISTERED NUMBER: 09167528)

BALANCE SHEET - continued
31 AUGUST 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 214 180
Other reserves 10 733,746 640,671
Retained earnings 10 16,755 70,337
750,715 711,188

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:





I Albizreh - Director


HB PROPERTIES & LETTING LTD (REGISTERED NUMBER: 09167528)

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


1. STATUTORY INFORMATION

HB Properties & Letting 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 represents services provided during the period, excluding Value Added Tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Fixed assets are initially recognised at cost.

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.

In accordance with the provisions of FRS 102 freehold investment buildings are not depreciated.

This is in contravention to the Companies Act 2006 which requires all tangible fixed assets to be depreciated. The directors are of the opinion that this departure from the Companies Act 2006 is needed to present a true and fair view.

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


HB PROPERTIES & LETTING LTD (REGISTERED NUMBER: 09167528)

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


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

HB PROPERTIES & LETTING LTD (REGISTERED NUMBER: 09167528)

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


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 September 2023 14,137 - 14,137
Additions - 46,290 46,290
At 31 August 2024 14,137 46,290 60,427
DEPRECIATION
At 1 September 2023 8,579 - 8,579
Charge for year 1,112 11,573 12,685
At 31 August 2024 9,691 11,573 21,264
NET BOOK VALUE
At 31 August 2024 4,446 34,717 39,163
At 31 August 2023 5,558 - 5,558

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 46,290
At 31 August 2024 46,290
DEPRECIATION
Charge for year 11,573
At 31 August 2024 11,573
NET BOOK VALUE
At 31 August 2024 34,717

HB PROPERTIES & LETTING LTD (REGISTERED NUMBER: 09167528)

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


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 4,000,000
Additions 70,900
Revaluations 124,100
At 31 August 2024 4,195,000
NET BOOK VALUE
At 31 August 2024 4,195,000
At 31 August 2023 4,000,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2022 854,228
Valuation in 2024 124,100
Cost 3,216,672
4,195,000

Investment property was valued on an open market basis on 31 August 2024 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,239 52,186

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,553 -
Taxation and social security 16,925 -
Other creditors 3,219,874 3,146,927
3,244,352 3,146,927

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Hire purchase contracts 28,189 -

HB PROPERTIES & LETTING LTD (REGISTERED NUMBER: 09167528)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 35,742 -

The hire purchase is secured against the vehicle to which the loan relates.

10. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 September 2023 70,337 640,671 711,008
Profit for the year 39,493 39,493
Transfer on reserves (93,075 ) 93,075 -
At 31 August 2024 16,755 733,746 750,501

The other reserves represents non distributable gains made by the company on the revaluation of investment properties.

11. RELATED PARTY DISCLOSURES

At the balance sheet date the company had received loans from the directors of £3,197,924 (2023 - £3,133,818) which are included in creditors falling due within one year. This balance is interest free and repayable on demand.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
HB PROPERTIES & LETTING 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 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 HB Properties & Letting Ltd for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity 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 HB Properties & Letting 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 HB Properties & Letting Ltd and state those matters that we have agreed to state to the Board of Directors of HB Properties & Letting 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 HB Properties & Letting Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that HB Properties & Letting 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 HB Properties & Letting Ltd. You consider that HB Properties & Letting 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 HB Properties & Letting 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.






Carter & Coley
Chartered Accountants
3 Durrant Road
Bournemouth
Dorset
BH2 6NE


3 April 2025