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REGISTERED NUMBER: 14628860 (England and Wales)















Financial Statements

for the Year Ended 31 August 2024

for

HMG (St Ives) Limited

HMG (St Ives) Limited (Registered number: 14628860)

Contents of the Financial Statements
for the Year Ended 31 August 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


HMG (St Ives) Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: N P Casson
Mrs C A Hall
B A I Murray





REGISTERED OFFICE: St Johns House
Barrington Road
Altrincham
Cheshire
WA14 1TJ





REGISTERED NUMBER: 14628860 (England and Wales)





AUDITORS: Hardy & Company (Hyde) Ltd
Chartered Certified Accountants
& Statutory Auditors
Onward Chambers
34 Market Street
Hyde
Cheshire
SK14 1AH

HMG (St Ives) Limited (Registered number: 14628860)

Abridged Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Investment property 4 1,000,000 1,010,000

CURRENT ASSETS
Debtors 20,065 21,053

CREDITORS
Amounts falling due within one year 783,779 686,143
NET CURRENT LIABILITIES (763,714 ) (665,090 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

236,286

344,910

PROVISIONS FOR LIABILITIES 59,072 86,228
NET ASSETS 177,214 258,682

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 177,213 258,681
177,214 258,682

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 29 October 2024 and were signed on its behalf by:





N P Casson - Director


HMG (St Ives) Limited (Registered number: 14628860)

Notes to the Financial Statements
for the Year Ended 31 August 2024


1. STATUTORY INFORMATION

HMG (St Ives) Limited 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 rental income for the year excluding VAT together with premiums received from tenants. Amounts invoiced in advance relating to the next accounting period are included in accruals as deferred income.

Acquisitions and disposals of properties are recognised on the date of exchange of contracts for the purchase or sale, provided there is certainty at the balance sheet date that completion will take place. If completion is subject to a contingent event the purchase or sale is recognised on the date that the contingent event occurred.

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.

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.

3. EMPLOYEES AND DIRECTORS

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

HMG (St Ives) Limited (Registered number: 14628860)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 1,010,000
Additions 98,624
Revaluations (108,624 )
At 31 August 2024 1,000,000
NET BOOK VALUE
At 31 August 2024 1,000,000
At 31 August 2023 1,010,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2024 1,000,000

If Investment Property had not been revalued it would have been included at the following historical cost:

31.8.24 31.8.23
£    £   
Cost 763,714 665,090

Investment property was valued on an open market basis on 15 March 2024 by Cushman & Wakefield .

5. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Paul Robert Campbell (Senior Statutory Auditor)
for and on behalf of Hardy & Company (Hyde) Ltd

6. CONTINGENT LIABILITIES

The company has given guarantee in respect of its fellow subsidiary company HMG Investments Limited for Bank loans of £52,136,828.

7. ULTIMATE CONTROLLING PARTY

The company is a subsidiary of HMG Investment Holdings Limited and the ultimate holding company is The Hollins Murray Group Limited. Both companies are incorporated in England and Wales.