| REGISTERED NUMBER: |
| HIZ SECURITIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| REGISTERED NUMBER: |
| HIZ SECURITIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| HIZ SECURITIES LIMITED (REGISTERED NUMBER: 00614647) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| HIZ SECURITIES LIMITED (REGISTERED NUMBER: 00614647) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| as restated |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Investments | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Property maintenance reserve |
| Fair value reserve | 10 |
| Retained earnings |
| 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. |
| HIZ SECURITIES LIMITED (REGISTERED NUMBER: 00614647) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HIZ SECURITIES LIMITED (REGISTERED NUMBER: 00614647) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Hiz Securities Limited is a |
| Registered number: |
| Registered office: |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis. |
| Significant judgements and estimates |
| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty. |
| Turnover |
| Turnover is measured at the fair value of rental income received or receivable, excluding discounts, rebates, value added tax and other sales taxes |
| Tangible fixed assets |
| Fixtures and fittings | - |
| No depreciation is provided in respect of land and buildings. |
| Although this policy is in accordance with the Financial reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view. |
| 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. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| HIZ SECURITIES LIMITED (REGISTERED NUMBER: 00614647) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| HIZ SECURITIES LIMITED (REGISTERED NUMBER: 00614647) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Interest |
| in joint |
| venture |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2024 |
| Revaluations | 132,997 |
| Reclassification/transfer | 1,250,000 |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| The fair value of the investment properties have been arrived at on the basis of a valuation carried out by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
| Fair value at 31 December 2024 is represented by: |
| £ |
| Valuation in 2015 | 2,449,695 |
| Valuation in 2016 | 317,513 |
| Valuation in 2017 | 127,328 |
| Valuation in 2018 | 479,907 |
| Valuation in 2019 | 243,121 |
| Valuation in 2020 | 245,069 |
| Valuation in 2021 | 456,556 |
| Valuation in 2022 | 215,502 |
| Valuation in 2023 | (212,878 | ) |
| Valuation in 2024 | 549,171 |
| Cost | 2,147,481 |
| 7,018,465 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Other debtors |
| HIZ SECURITIES LIMITED (REGISTERED NUMBER: 00614647) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 8. | CURRENT ASSET INVESTMENTS |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Listed investments | 1,534 | 1,534 |
| Unlisted investments | 495,945 | 480,807 |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 10. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 January 2024 |
| Fair value movements | 549,171 |
| Deferred tax movements | (136,541 | ) |
| At 31 December 2024 |
| 11. | RELATED PARTY DISCLOSURES |
| At the balance sheet date £77,103 (2023: £98,180) was due from Hendales Property Management Limited, a company controlled by J Mebourne, a director. |
| At the balance sheet date £131,211 (2023: £139,075) was due from Garrison Court Freeholders Limited, a company in which Hiz Securities Limited owns a 50% shareholding. This loan is interest free and there are no terms for repayment. |
| At the balance sheet date £122 (2023: £5,017 was owed to) was due from Clare Gardens Estate Management Company Limited, a company in which P Thake and R Thake are directors. This loan is interest free and there are no terms for repayment. |
| At the balance sheet date £NIL (2023: £22,402) was owed to P Thake, a director of the company. |
| 12. | ULTIMATE CONTROLLING PARTY |
| During the year, the company was controlled by the directors acting in concert. |