Silverfin false false 31/10/2024 01/11/2023 31/10/2024 Beverley Henry 10/12/2020 Iain Henry 03/10/2012 28 April 2025 The principal activity of the Company during the financial year was that of renting investment properties to the private residential market. SC433906 2024-10-31 SC433906 bus:Director1 2024-10-31 SC433906 bus:Director2 2024-10-31 SC433906 2023-10-31 SC433906 core:CurrentFinancialInstruments 2024-10-31 SC433906 core:CurrentFinancialInstruments 2023-10-31 SC433906 core:Non-currentFinancialInstruments 2024-10-31 SC433906 core:Non-currentFinancialInstruments 2023-10-31 SC433906 core:ShareCapital 2024-10-31 SC433906 core:ShareCapital 2023-10-31 SC433906 core:RetainedEarningsAccumulatedLosses 2024-10-31 SC433906 core:RetainedEarningsAccumulatedLosses 2023-10-31 SC433906 core:Vehicles 2023-10-31 SC433906 core:FurnitureFittings 2023-10-31 SC433906 core:OfficeEquipment 2023-10-31 SC433906 core:Vehicles 2024-10-31 SC433906 core:FurnitureFittings 2024-10-31 SC433906 core:OfficeEquipment 2024-10-31 SC433906 bus:OrdinaryShareClass1 2024-10-31 SC433906 2023-11-01 2024-10-31 SC433906 bus:FilletedAccounts 2023-11-01 2024-10-31 SC433906 bus:SmallEntities 2023-11-01 2024-10-31 SC433906 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 SC433906 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 SC433906 bus:Director1 2023-11-01 2024-10-31 SC433906 bus:Director2 2023-11-01 2024-10-31 SC433906 core:Vehicles core:TopRangeValue 2023-11-01 2024-10-31 SC433906 core:FurnitureFittings core:TopRangeValue 2023-11-01 2024-10-31 SC433906 core:OfficeEquipment core:TopRangeValue 2023-11-01 2024-10-31 SC433906 2022-11-01 2023-10-31 SC433906 core:Vehicles 2023-11-01 2024-10-31 SC433906 core:FurnitureFittings 2023-11-01 2024-10-31 SC433906 core:OfficeEquipment 2023-11-01 2024-10-31 SC433906 core:CurrentFinancialInstruments 2023-11-01 2024-10-31 SC433906 core:Non-currentFinancialInstruments 2023-11-01 2024-10-31 SC433906 bus:OrdinaryShareClass1 2023-11-01 2024-10-31 SC433906 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC433906 (Scotland)

HENDONG PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH THE REGISTRAR

HENDONG PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024

Contents

HENDONG PROPERTIES LIMITED

BALANCE SHEET

AS AT 31 OCTOBER 2024
HENDONG PROPERTIES LIMITED

BALANCE SHEET (continued)

AS AT 31 OCTOBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 61,421 74,279
Investment property 4 766,574 958,424
827,995 1,032,703
Current assets
Debtors 5 0 3,750
Cash at bank and in hand 48,468 7,456
48,468 11,206
Creditors: amounts falling due within one year 6 ( 10,695) ( 8,456)
Net current assets 37,773 2,750
Total assets less current liabilities 865,768 1,035,453
Creditors: amounts falling due after more than one year 7 ( 849,756) ( 929,653)
Net assets 16,012 105,800
Capital and reserves
Called-up share capital 8 2 2
Profit and loss account 16,010 105,798
Total shareholder's funds 16,012 105,800

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Hendong Properties Limited (registered number: SC433906) were approved and authorised for issue by the Board of Directors on 28 April 2025. They were signed on its behalf by:

Iain Henry
Director
HENDONG PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
HENDONG PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 OCTOBER 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Hendong Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Megray House, Ury, Stonehaven, AB39 3QA, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received for rent in the normal course of business.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles 3 years straight line
Fixtures and fittings 10 years straight line
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Vehicles Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 01 November 2023 81,744 54,000 1,356 137,100
Additions 0 1,992 0 1,992
At 31 October 2024 81,744 55,992 1,356 139,092
Accumulated depreciation
At 01 November 2023 9,083 53,700 38 62,821
Charge for the financial year 13,915 483 452 14,850
At 31 October 2024 22,998 54,183 490 77,671
Net book value
At 31 October 2024 58,746 1,809 866 61,421
At 31 October 2023 72,661 300 1,318 74,279

4. Investment property

Investment property
£
Valuation
As at 01 November 2023 958,424
Disposals (191,850)
As at 31 October 2024 766,574

Investment property comprises of four residential flats. The directors have considered the market value of the properties at 31 October 2024 and concluded that there have been no material changes since it was acquired.

5. Debtors

2024 2023
£ £
Other debtors 0 3,750

6. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 2,798 3,359
Obligations under finance leases and hire purchase contracts (secured) 7,897 5,097
10,695 8,456

The loans in respect of the hire purchase agreements are secured against the asset to which the agreements relates to.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 47,370 55,267
Other creditors 802,386 874,386
849,756 929,653

The loans in respect of the hire purchase agreements are secured against the asset to which the agreements relates to.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Key management personnel 802,386 874,386