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REGISTERED NUMBER: 09965076 (England and Wales)
























UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

HOBBS ELECTRICAL PROPERTY LTD

HOBBS ELECTRICAL PROPERTY LTD (REGISTERED NUMBER: 09965076)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


HOBBS ELECTRICAL PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: J Hobbs
S P Hobbs





REGISTERED OFFICE: 7A St Pauls Court
Stony Stratford
Buckinghamshire
MK11 1LJ





REGISTERED NUMBER: 09965076 (England and Wales)





ACCOUNTANTS: TC CH Limited
4 Office Village
Forder Way
Cygnet Park, Hampton
Peterborough
Cambridgeshire
PE7 8GX

HOBBS ELECTRICAL PROPERTY LTD (REGISTERED NUMBER: 09965076)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,501 2,001
Investment property 5 1,294,142 1,294,142
1,295,643 1,296,143

CURRENT ASSETS
Debtors 6 4,259 2,418
Cash at bank 477 2,172
4,736 4,590
CREDITORS
Amounts falling due within one year 7 420,155 410,211
NET CURRENT LIABILITIES (415,419 ) (405,621 )
TOTAL ASSETS LESS CURRENT LIABILITIES 880,224 890,522

CREDITORS
Amounts falling due after more than one
year

8

(826,391

)

(804,100

)

PROVISIONS FOR LIABILITIES 11 (17,211 ) (17,336 )
NET ASSETS 36,622 69,086

CAPITAL AND RESERVES
Called up share capital 12 100 100
Fair value reserve 13 133,000 133,000
Retained earnings 13 (96,478 ) (64,014 )
SHAREHOLDERS' FUNDS 36,622 69,086

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

HOBBS ELECTRICAL PROPERTY LTD (REGISTERED NUMBER: 09965076)

BALANCE SHEET - continued
31 JANUARY 2025


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 15 May 2025 and were signed on its behalf by:





J Hobbs - Director


HOBBS ELECTRICAL PROPERTY LTD (REGISTERED NUMBER: 09965076)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025


1. STATUTORY INFORMATION

Hobbs Electrical Property 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
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.

No significant judgements (apart from those involving estimations) have been made by management in the process of applying the entity's accounting policies and preparing these financial statements.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There have been no key assumptions or there 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

At each balance sheet date assets not carried at fair value are assessed to determine whether there is an indication that the asset may be impaired. If there is such an indication the recoverable amount of the asset is compared to the carrying amount of the asset.

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.

HOBBS ELECTRICAL PROPERTY LTD (REGISTERED NUMBER: 09965076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


2. ACCOUNTING POLICIES - continued

Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors and basic financial instruments and are measured at amortised cost. Taxation and social security and not included in the financial instruments disclosure definition.

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.

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.

Debtors
Short term debtors are initially measured at transaction price less attributable costs and then subsequently measured at amortised costs using EIR. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are initially measured at transaction price less attributable costs. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

HOBBS ELECTRICAL PROPERTY LTD (REGISTERED NUMBER: 09965076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 February 2024
and 31 January 2025 8,275
DEPRECIATION
At 1 February 2024 6,274
Charge for year 500
At 31 January 2025 6,774
NET BOOK VALUE
At 31 January 2025 1,501
At 31 January 2024 2,001

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2024
and 31 January 2025 1,294,142
NET BOOK VALUE
At 31 January 2025 1,294,142
At 31 January 2024 1,294,142

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other debtors 599 678
Prepayments and accrued income 3,660 1,740
4,259 2,418

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Other creditors 403,036 400,745
Directors' current accounts 14,313 5,313
Deferred Income 2,806 2,953
Accrued expenses - 1,200
420,155 410,211

HOBBS ELECTRICAL PROPERTY LTD (REGISTERED NUMBER: 09965076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025 2024
£    £   
Bank loans (see note 9) 826,391 804,100

9. LOANS

An analysis of the maturity of loans is given below:

2025 2024
£    £   
Amounts falling due between one and two years:
Bank loans - 1-2 years 826,391 804,100

10. SECURED DEBTS

A legal charge dated 12 March 2019 is held by Paragon Bank PLC over all monies or hereafter to become due or from time to time accruing due from the company to the bank upon any account and in any manner whatsoever. The legal charge is held against the investment property known as Flat 101 luxe tower dock street, london.

A legal charge dated 12 March 2019 is held by Paragon Bank PLC over all monies or hereafter to become due or from time to time accruing due from the company to the bank upon any account and in any manner whatsoever. The legal charge is held against the investment property known as Flat 1002 luke tower, 12 dock street, London.

11. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 17,211 17,336

Deferred
tax
£   
Balance at 1 February 2024 17,336
Provided during year (125 )
Balance at 31 January 2025 17,211

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
100 Ordinary 1 100 100

HOBBS ELECTRICAL PROPERTY LTD (REGISTERED NUMBER: 09965076)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025


13. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 February 2024 (64,014 ) 133,000 68,986
Deficit for the year (32,464 ) (32,464 )
At 31 January 2025 (96,478 ) 133,000 36,522

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a director Joe Hobbs was owed £2,656.50 (2024 - £2,656.50). This loan is unsecured, interest free and repayable on demand.

At the year end a director Steven Hobbs was owed £11,656.50 (2024 - £2,656.50). This loan is unsecured, interest free and repayable on demand.

15. RELATED PARTY DISCLOSURES

As at the year end, the company owed £403,036 (2024 - £400,745) by a connected company. This loan is unsecured, interest free and repayable on demand. The balance is included within other creditors.

16. ULTIMATE CONTROLLING PARTY

There is no Ultimate controlling party. J Hobbs and S P Hobbs split the voting rights 50/50.