0
7 April 2025
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2023 - FRS102_2023
4,425
4,425
3,243,770
3,243,770
3,243,770
xbrli:pure
xbrli:shares
iso4217:GBP
06045952
2023-05-01
2024-04-30
06045952
2024-04-30
06045952
2023-04-30
06045952
2022-05-01
2023-04-30
06045952
2023-04-30
06045952
2022-04-30
06045952
core:PlantMachinery
2023-05-01
2024-04-30
06045952
bus:RegisteredOffice
2023-05-01
2024-04-30
06045952
bus:LeadAgentIfApplicable
2023-05-01
2024-04-30
06045952
bus:Director1
2023-05-01
2024-04-30
06045952
bus:Director2
2023-05-01
2024-04-30
06045952
bus:CompanySecretary1
2023-05-01
2024-04-30
06045952
core:PlantMachinery
2024-04-30
06045952
core:WithinOneYear
2024-04-30
06045952
core:WithinOneYear
2023-04-30
06045952
core:ShareCapital
2024-04-30
06045952
core:ShareCapital
2023-04-30
06045952
core:RetainedEarningsAccumulatedLosses
2024-04-30
06045952
core:RetainedEarningsAccumulatedLosses
2023-04-30
06045952
core:CostValuation
core:Non-currentFinancialInstruments
2024-04-30
06045952
core:Non-currentFinancialInstruments
2024-04-30
06045952
core:Non-currentFinancialInstruments
2023-04-30
06045952
bus:Director1
2023-04-30
06045952
bus:Director1
2024-04-30
06045952
bus:Director1
2022-04-30
06045952
bus:Director1
2023-04-30
06045952
bus:Director1
2022-05-01
2023-04-30
06045952
bus:SmallEntities
2023-05-01
2024-04-30
06045952
bus:Audited
2023-05-01
2024-04-30
06045952
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
06045952
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
06045952
bus:FullAccounts
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
06045952
Howarth Brothers Properties (2007) Limited |
|
Filleted Financial Statements |
|
Howarth Brothers Properties (2007) Limited |
|
Year ended 30 April 2024
Officers and professional advisers |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
3 |
|
|
Howarth Brothers Properties (2007) Limited |
|
Officers and Professional Advisers |
|
The board of directors |
Mrs J. O'Neill |
|
Mr L. O'Neill |
|
|
Company secretary |
Mrs J. O'Neill |
|
|
Registered office |
4 Broadgate |
|
Broadway Business Park |
|
Chadderton |
|
Oldham |
|
OL9 9XA |
|
|
Auditor |
Edwards Veeder (UK) Limited |
|
Chartered accountants & statutory auditor |
|
4 Broadgate |
|
Broadway Business Park |
|
Chadderton |
|
Oldham |
|
OL9 9XA |
|
|
Bankers |
Royal Bank of Scotland PLC |
|
1/5 Church Terrace |
|
Oldham |
|
OL1 3AU |
|
|
Howarth Brothers Properties (2007) Limited |
|
Statement of Financial Position |
|
30 April 2024
Fixed assets
Investments |
5 |
|
3,243,770 |
3,243,770 |
|
|
|
|
|
Current assets
Debtors |
6 |
684,998 |
|
662,933 |
Cash at bank and in hand |
19,189 |
|
15,448 |
|
--------- |
|
--------- |
|
704,187 |
|
678,381 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
170,381 |
|
178,910 |
|
--------- |
|
--------- |
Net current assets |
|
533,806 |
499,471 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
3,777,576 |
3,743,241 |
|
|
------------ |
------------ |
Net assets |
|
3,777,576 |
3,743,241 |
|
|
------------ |
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
3,777,575 |
3,743,240 |
|
|
------------ |
------------ |
Shareholder funds |
|
3,777,576 |
3,743,241 |
|
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
7 April 2025
, and are signed on behalf of the board by:
Mrs J. O'Neill |
Mr L. O'Neill |
Director |
Director |
|
|
Company registration number:
06045952
Howarth Brothers Properties (2007) Limited |
|
Notes to the Financial Statements |
|
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Broadgate, Broadway Business Park, Chadderton, Oldham, OL9 9XA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have a significant effect on the amounts recognised in the financial statements are the valuations of the investment properties. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents rents and service charges receivable during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & machinery |
- |
15% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
|
Plant and machinery |
Total |
|
£ |
£ |
Cost |
|
|
At 1 May 2023 and 30 April 2024 |
4,425 |
4,425 |
|
------- |
------- |
Depreciation |
|
|
At 1 May 2023 and 30 April 2024 |
4,425 |
4,425 |
|
------- |
------- |
Carrying amount |
|
|
At 30 April 2024 |
– |
– |
|
------- |
------- |
At 30 April 2023 |
– |
– |
|
------- |
------- |
|
|
|
5.
Investments
|
Investment Properties |
|
£ |
Cost |
|
At 1 May 2023 and 30 April 2024 |
3,243,770 |
|
------------ |
Impairment |
|
At 1 May 2023 and 30 April 2024 |
– |
|
------------ |
|
|
Carrying amount |
|
At 30 April 2024 |
3,243,770 |
|
------------ |
At 30 April 2023 |
3,243,770 |
|
------------ |
|
|
In the opinion of the directors, the net book value represents the fair value of the investment properties at 30 April 2024.
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
14,325 |
3,751 |
Other debtors |
670,673 |
659,182 |
|
--------- |
--------- |
|
684,998 |
662,933 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Corporation tax |
82,823 |
94,583 |
Social security and other taxes |
46,214 |
44,558 |
Other creditors |
41,344 |
39,769 |
|
--------- |
--------- |
|
170,381 |
178,910 |
|
--------- |
--------- |
|
|
|
8.
Summary audit opinion
The auditor's report dated
7 April 2025
was
unqualified
.
The senior statutory auditor was
Andrew Wadsworth FCCA
, for and on behalf of
Edwards Veeder (UK) Limited
.
9.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
2024 |
|
|
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
Mrs J. O'Neill |
(
437) |
36,145 |
(
36,200) |
(
492) |
|
|
---- |
-------- |
-------- |
---- |
|
|
|
|
|
|
|
2023 |
|
|
Balance brought forward |
Advances/ (credits) to the directors |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
Mrs J. O'Neill |
(
45) |
50,608 |
(
51,000) |
(
437) |
|
|
---- |
-------- |
-------- |
---- |
|
|
|
|
|
|
10.
Related party transactions
The company was under the control of Mrs J O'Neill throughout the current year. Mrs J O'Neill is the director of this company and a director and shareholder in the ultimate parent company Howarth Brothers Properties (2018) Limited. Mr L O'Neill is a director of this company. During the year dividends totalling £98,600 (2023: £106,500) were paid to Howarth Brothers Properties (2018) Limited. The balance outstanding from Howarth Brothers Properties (2018) Limited at the year end was £1,100 (2023: £1,100). The company incurred management charges of £70,000 (2023: £70,000) from Howarth Brothers Haulage Limited, a company in which
Mrs J. O'Neill
is materially interested as a director and shareholder. The balance outstanding from Howarth Brothers Haulage Limited at the year end was £643,368 (2023: £632,073). Any other changes in balances are due to payments or receipts made on behalf of the related party.
11.
Controlling party
The company is a wholly owned subsidiary of Howarth Brothers Properties (2018) Limited, a company incorporated in England and Wales.