Hemway Properties Limited 04623548 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is property rental. Digita Accounts Production Advanced 6.30.9574.0 true 04623548 2023-07-01 2024-06-30 04623548 2024-06-30 04623548 core:OtherReservesSubtotal 2024-06-30 04623548 core:RetainedEarningsAccumulatedLosses 2024-06-30 04623548 core:ShareCapital 2024-06-30 04623548 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 04623548 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 04623548 core:OtherPropertyPlantEquipment 2024-06-30 04623548 bus:SmallEntities 2023-07-01 2024-06-30 04623548 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 04623548 bus:FilletedAccounts 2023-07-01 2024-06-30 04623548 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 04623548 bus:RegisteredOffice 2023-07-01 2024-06-30 04623548 bus:Director1 2023-07-01 2024-06-30 04623548 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 04623548 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 04623548 countries:EnglandWales 2023-07-01 2024-06-30 04623548 2023-06-30 04623548 2022-07-01 2023-06-30 04623548 2023-06-30 04623548 core:OtherReservesSubtotal 2023-06-30 04623548 core:RetainedEarningsAccumulatedLosses 2023-06-30 04623548 core:ShareCapital 2023-06-30 04623548 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04623548 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-06-30 04623548 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 04623548 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2023-06-30 04623548 core:PreviouslyStatedAmount 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 04623548

Hemway Properties Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Hemway Properties Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 6

 

Hemway Properties Limited

(Registration number: 04623548)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

24,000

-

Investment property

5

2,891,078

2,891,078

 

2,915,078

2,891,078

Current assets

 

Debtors

6

940,600

1,067,290

Cash at bank and in hand

 

2,063

18,654

 

942,663

1,085,944

Creditors: Amounts falling due within one year

7

(992,246)

(1,100,853)

Net current liabilities

 

(49,583)

(14,909)

Total assets less current liabilities

 

2,865,495

2,876,169

Creditors: Amounts falling due after more than one year

7

(888,804)

(904,700)

Provisions for liabilities

(24,691)

(24,691)

Net assets

 

1,952,000

1,946,778

Capital and reserves

 

Called up share capital

2

2

Other reserves

1,346,025

685,712

Profit and loss account

605,973

1,261,064

Shareholders' funds

 

1,952,000

1,946,778

 

Hemway Properties Limited

(Registration number: 04623548)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 June 2025
 

.........................................
Mr B J Hemmings
Director

 

Hemway Properties Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

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:
7-9 Macon Court
Crewe
Cheshire
CW1 6EA
UK

The principal place of business is:
The Dower House
Hall Lane
Hankelow
Cheshire
CW3 0JB

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Hemway Properties Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Investment property

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRS 102, as follows:

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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 profit and loss account 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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Hemway Properties Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

30,000

30,000

At 30 June 2024

30,000

30,000

Depreciation

Charge for the year

6,000

6,000

At 30 June 2024

6,000

6,000

Carrying amount

At 30 June 2024

24,000

24,000

5

Investment properties

2024
£

At 1 July

2,891,078

At 30 June

2,891,078

There has been no valuation of investment property by an independent valuer.

 

Hemway Properties Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

63,309

53,911

Amounts owed by related parties

877,134

1,013,222

Prepayments

 

157

157

   

940,600

1,067,290

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Bank loans and overdrafts

69,499

91,990

Trade creditors

74,492

37,912

Amounts owed to group undertakings

688,758

705,486

Taxation and social security

21,124

22,325

Other creditors

138,373

243,140

992,246

1,100,853

Due after one year

Loans and borrowings

888,804

904,700