Registered number
05206105
HOLMWOOD PROPERTY SERVICES & MANAGEMENT LIMITED
Filleted Accounts
31 August 2024
HOLMWOOD PROPERTY SERVICES & MANAGEMENT LIMITED
Registered number: 05206105
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,041,603 2,042,361
Current assets
Debtors 4 211,890 195,273
Cash at bank and in hand 212,560 239,149
424,450 434,422
Creditors: amounts falling due within one year 5 (13,734) (6,563)
Net current assets 410,716 427,859
Total assets less current liabilities 2,452,319 2,470,220
Creditors: amounts falling due after more than one year 6 (1,495,201) (1,521,768)
Provisions for liabilities (432) (576)
Net assets 956,686 947,876
Capital and reserves
Called up share capital 100 100
Profit and loss account 956,586 947,776
Shareholders' funds 956,686 947,876
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.
G S Lakhpuri
Director
Approved by the board on 28 May 2025
HOLMWOOD PROPERTY SERVICES & MANAGEMENT LIMITED
Notes to the Accounts
for the year ended 31 August 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. Turnover includes revenue earned from the rental income from owned property and therefore is outside the scope of value added tax.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings not depreciated
Fixtures, fittings and equipment 25% reducing balance
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 1 1
3 Tangible fixed assets
Land and buildings Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 September 2023 2,039,329 21,383 2,060,712
At 31 August 2024 2,039,329 21,383 2,060,712
Depreciation
At 1 September 2023 - 18,351 18,351
Charge for the year - 758 758
At 31 August 2024 - 19,109 19,109
Net book value
At 31 August 2024 2,039,329 2,274 2,041,603
At 31 August 2023 2,039,329 3,032 2,042,361
4 Debtors 2024 2023
£ £
Other debtors 211,890 195,273
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 2,246 758
Other creditors 11,488 5,805
13,734 6,563
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,418,946 1,435,340
Other creditors - director's loan to the company 76,255 86,428
1,495,201 1,521,768
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 1,435,340 1,435,340
Instalments falling due for payment after more than five years 375,160 375,160
1,810,500 1,810,500
Secured bank loans 1,810,500 1,810,500
The loans are secured against specific freehold properties owned by the company
8 Controlling party
The company is controlled by K S Lakhpuri & G S Lakhpuri, directors
9 Other information
HOLMWOOD PROPERTY SERVICES & MANAGEMENT LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
27 Alma Road,
Portswood,
Southampton,
Hampshire
SO14 6UN
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