Company registration number 12280471 (England and Wales)
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
2,560,000
1,634,999
Current assets
Debtors
5
344,051
395,372
Cash at bank and in hand
21,585
3,722
365,636
399,094
Creditors: amounts falling due within one year
6
(1,702,934)
(1,198,353)
Net current liabilities
(1,337,298)
(799,259)
Total assets less current liabilities
1,222,702
835,740
Creditors: amounts falling due after more than one year
7
(991,778)
(727,689)
Provisions for liabilities
(46,906)
(23,727)
Net assets
184,018
84,324
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
8
184,017
84,323
Total equity
184,018
84,324
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
For the financial year ended 31 October 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 directors acknowledge their 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 July 2025 and are signed on its behalf by:
Miss J Taylor
Director
Company registration number 12280471 (England and Wales)
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information
Allstoreys Investments Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Rose Bank, 151 Rosemary Hill, Little Aston, Sutton Coldfield, West Midlands, UK, B74 4HF.
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
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
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.
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 5 -
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.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 November 2023
1,634,999
Additions
832,283
Revaluations
92,718
At 31 October 2024
2,560,000
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
2,752
Amounts owed by group undertakings
341,299
395,372
344,051
395,372
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
26,716
14,057
Trade creditors
11,363
Amounts owed to group undertakings
1,662,215
1,181,837
Other creditors
2,640
2,459
1,702,934
1,198,353
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
991,778
727,689
The long term bank loans are secured by fixed charges over the investment properties held by the company in favour of Onesavings Bank PLC and Paragon Bank PLC.
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
261,779
82,247
Payable other than by instalments
582,060
582,060
843,839
664,307
8
Profit and loss reserves
2024
2023
£
£
At the beginning of the year
84,323
74,514
Profit for the year
99,694
9,809
At the end of the year
184,017
84,323
ALLSTOREYS INVESTMENTS LTD
(FORMERLY HAWKSMOOR PROPERTY INVESTMENTS LTD)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
8
Profit and loss reserves
(Continued)
- 7 -
Included within profit and loss reserves are non-distributable profits, as set out below:
2024
2023
£
£
Non-distributable profits included above
At the beginning of the year
71,182
70,084
Non distributable profits in the year
69,538
1,098
At the end of the year
140,720
71,182
Distributable profits
43,297
13,141
9
Related party transactions
2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
1,201,414
762,036
Other related parties
460,801
419,801
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Other related parties
341,299
395,372
10
Parent company
The parent company is Allstoreys Group (Holdings) Ltd (formerly Hawksmoor Group (Holdings) Ltd) whose registered office is 2 Rose Bank, Sutton Coldfield, West Midlands, B74 4HF.