Company registration number 04873319 (England and Wales)
HBROS PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
HBROS PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HBROS PROPERTIES LIMITED
BALANCE SHEET
AS AT
29 JUNE 2024
29 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
812,172
843,319
Current assets
Debtors
4
274,096
712,486
Cash at bank and in hand
-
0
2,521
274,096
715,007
Creditors: amounts falling due within one year
5
(1,228,784)
(1,602,278)
Net current liabilities
(954,688)
(887,271)
Total assets less current liabilities
(142,516)
(43,952)
Provisions for liabilities
(8,981)
(10,023)
Net liabilities
(151,497)
(53,975)
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
(151,499)
(53,977)
Total equity
(151,497)
(53,975)

For the financial year ended 29 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 23 May 2025
M A Heaney
Director
Company registration number 04873319 (England and Wales)
HBROS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 JUNE 2024
- 2 -
1
Accounting policies
Company information

HBROS Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Yorkshire Bank Chambers, 2 Infirmary Street, Leeds, West Yorkshire, LS1 2JP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

As at the period end, the company had net current liabilities of £954,688 and net liabilities of £151,497.true

 

The company is reliant on the support of its creditors and at the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.

 

Turnover represents the provision of managed services to customers during the year.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
2% on cost (excluding freehold land)
Fixtures and fittings
10% on reducing balance
Motor vehicles
25% on reducing balance
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

HBROS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.

1.7
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.8
Government grants

Government grant income is recognised under the accruals model.

1.9

Debtors

Short term debtors are measured at their transaction price, less any impairment.

1.10

Creditors

Short term creditors are measured at their transaction price.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
7
HBROS PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 JUNE 2024
- 4 -
3
Tangible fixed assets
Improvements to property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 30 June 2023 and 29 June 2024
1,191,068
228,270
49,113
1,468,451
Depreciation and impairment
At 30 June 2023
406,720
178,827
39,585
625,132
Depreciation charged in the year
23,821
4,944
2,382
31,147
At 29 June 2024
430,541
183,771
41,967
656,279
Carrying amount
At 29 June 2024
760,527
44,499
7,146
812,172
At 29 June 2023
784,348
49,443
9,528
843,319
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
600
419,999
Other debtors
1,923
21,367
Prepayments and accrued income
271,573
271,120
274,096
712,486
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
1
-
0
Trade creditors
26,953
21,245
Corporation tax
-
0
20,018
Other taxation and social security
7,026
22,287
Other creditors
1,192,059
1,535,953
Accruals and deferred income
2,745
2,775
1,228,784
1,602,278
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