Registered number
14300836
HOLMES & HILL PROPERTIES LTD
Filleted Accounts
31 July 2024
HOLMES & HILL PROPERTIES LTD
Registered number: 14300836
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Investment Property 3 450,515 306,337
Current assets
Debtors 4 2,648 -
Cash at bank and in hand 508 4,405
3,156 4,405
Creditors: amounts falling due within one year 5 (273,633) (134,933)
Net current liabilities (270,477) (130,528)
Total assets less current liabilities 180,038 175,809
Creditors: amounts falling due after more than one year 6 (181,876) (181,876)
Net liabilities (1,838) (6,067)
Capital and reserves
Called up share capital 10 10
Profit and loss account (1,848) (6,077)
Shareholders' funds (1,838) (6,067)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
D Holmes
Director
Approved by the board on 10 April 2025
HOLMES & HILL PROPERTIES LTD
Notes to the Accounts
for the year ended 31 July 2024
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 measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investment properties are included in the statement of financial position at their open market value in accordance with the FRS 102- Section 1A and are not depreciated. The investment properties held by the company are periodically valued by the directors on an open market, existing use basis. The directors then assesses whether the valuation is reasonable or requires amending at each year end.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investment Property
Other
investments
£
Valuation
At 1 August 2023 306,337
Additions 144,178
At 31 July 2024 450,515
The valuations were made by the directors, on an open market value for existing use basis.

The historical cost of the investment properties as at 31 July 2024 was £450,515.
4 Debtors 2024 2023
£ £
Other debtors 2,648 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 273,633 134,933
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 181,876 181,876
7 Related party transactions
There are the following balances owed to the directors Mr Holmes and Ms Hill £272,853 (2023 - £134,243). These amounts are repayable on demand and interest free.
8 Other information
HOLMES & HILL PROPERTIES LTD is a private company limited by shares and incorporated in England. Its registered office is:
60 The Avenue
Lawford Green
Manningtree
Essex
CO11 2FQ
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