2 2 H I Properties (Plymouth) Ltd 08017384 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is that of buying and selling own real estate. Digita Accounts Production Advanced 6.30.9574.0 true 08017384 2024-04-01 2025-03-31 08017384 2025-03-31 08017384 core:CurrentFinancialInstruments 2025-03-31 08017384 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 08017384 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 08017384 core:OfficeEquipment 2025-03-31 08017384 1 2025-03-31 08017384 bus:SmallEntities 2024-04-01 2025-03-31 08017384 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 08017384 bus:FilletedAccounts 2024-04-01 2025-03-31 08017384 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 08017384 bus:RegisteredOffice 2024-04-01 2025-03-31 08017384 bus:Director1 2024-04-01 2025-03-31 08017384 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08017384 core:OfficeEquipment 2024-04-01 2025-03-31 08017384 countries:EnglandWales 2024-04-01 2025-03-31 08017384 1 2024-04-01 2025-03-31 08017384 2024-03-31 08017384 core:OfficeEquipment 2024-03-31 08017384 1 2024-03-31 08017384 2023-04-01 2024-03-31 08017384 2024-03-31 08017384 core:CurrentFinancialInstruments 2024-03-31 08017384 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08017384 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08017384 1 2024-03-31 08017384 1 2023-04-01 2024-03-31 08017384 1 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 08017384

H I Properties (Plymouth) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

H I Properties (Plymouth) Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

H I Properties (Plymouth) Ltd

(Registration number: 08017384)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Current assets

 

Stocks

55,456

55,456

Debtors

5

-

325

Cash at bank and in hand

 

193,393

147,723

 

248,849

203,504

Creditors: Amounts falling due within one year

6

(108,854)

(98,507)

Total assets less current liabilities

 

139,995

104,997

Creditors: Amounts falling due after more than one year

6

(2,500)

(12,500)

Net assets

 

137,495

92,497

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

137,493

92,495

Shareholders' funds

 

137,495

92,497

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 29 May 2025 and signed on its behalf by:
 


Mr S T M Hicks
Director

 

H I Properties (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Plym House
3 Longbridge Road
Plymouth
Marsh Mills
Devon
PL6 8LT

Principal activity

The principal activity of the company is that of buying and selling own real estate.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

H I Properties (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

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.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for the sale of properties.

Revenue from the sale of properties is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

H I Properties (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

 

H I Properties (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2024

1,998

1,998

At 31 March 2025

1,998

1,998

Depreciation

At 1 April 2024

1,998

1,998

At 31 March 2025

1,998

1,998

Carrying amount

At 31 March 2025

-

-

5

Debtors

2025
£

2024
£

Other debtors

-

325

-

325

 

H I Properties (Plymouth) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Loans and borrowings

10,000

10,000

Taxation and social security

10,470

-

Accruals and deferred income

1,060

1,008

Other creditors

87,324

87,499

108,854

98,507

Creditors: amounts falling due after more than one year

2025
£

2024
£

Loans and borrowings

2,500

12,500

Bounce Back Loans benefit from a government guarantee.

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

8

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

Directors

(87,499)

175

-

(87,324)

         
       

 

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Directors

(107,499)

20,000

(87,499)

 

Directors' loans are repayable on demand and subject to interest on overdrawn balances at the official rate.