Company registration number 02897580 (England and Wales)
HOLMEFIELD COURT (HAMPSTEAD) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
HOLMEFIELD COURT (HAMPSTEAD) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HOLMEFIELD COURT (HAMPSTEAD) LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
495,811
264,000
Investments
4
227,690
495,811
491,690
Current assets
Cash at bank and in hand
45,733
29,121
Creditors: amounts falling due within one year
5
(12,327)
(3,640)
Net current assets
33,406
25,481
Total assets less current liabilities
529,217
517,171
Provisions for liabilities
(54,562)
(41,467)
Net assets
474,655
475,704
Capital and reserves
Called up share capital
72
72
Profit and loss reserves
474,583
475,632
Total equity
474,655
475,704
For the financial year ended 28 February 2025 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 15 August 2025 and are signed on its behalf by:
Mr RM Lee-Smith
Director
Company registration number 02897580 (England and Wales)
HOLMEFIELD COURT (HAMPSTEAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information
Holmefield Court (Hampstead) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, 114a Cromwell Road, London, UK, SW7 4AG.
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, modified to include investment properties and investments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents ground rents receivable and licence fees receivable.
The company is the freeholder of Holmefield Court and as such acts as trustee of the statutory trust in respect of service charge monies collected for the maintenance of Holmefield Court. The company holds these funds in trust for the lessees and has no beneficial interest in them. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property and do not form part of the annual accounts of the company and are not filed at Companes House.
1.3
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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
Basic financial assets
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and are subsequently measured at their settlement value.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.6
Taxation
The tax expense represents the sum of the corporation tax payable and any deferred tax.
HOLMEFIELD COURT (HAMPSTEAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
0
0
3
Tangible fixed assets
Land and buildings
£
Valuation
At 1 March 2024
264,000
Additions
231,811
At 28 February 2025
495,811
Depreciation and impairment
At 1 March 2024 and 28 February 2025
Carrying amount
At 28 February 2025
495,811
At 29 February 2024
264,000
Land and buildings comprise of -
1) The leasehold interest (approximately 40 years) of Flat 4 Holmefield Court was purchased on 27 February 2025 from executors and as such its open market value will not materially differ from the cost incurred at that date. By operation of law the leasehold interest is now merged into the freehold interest in Holmefield Court.
2) The freehold of Holmefield Court, which includes the reversions of the remaining 103 flats, which was last formally valued at £264,000 on an open market basis on 28 February 2022 by Marr-Johnson & Stevens LLP, a firm of Chartered Surveyors. The directors do not believe that the current market value is materially different from the market value or the carrying value as at 28 February 2025.
4
Fixed asset investments
2025
2024
£
£
Other investments other than loans
227,690
The historic cost of the company's fixed asset investments is £Nil (2024: £193,000).
HOLMEFIELD COURT (HAMPSTEAD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
4
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 March 2024
227,690
Additions
19,760
Valuation changes
(35,180)
Disposals
(212,270)
At 28 February 2025
-
Carrying amount
At 28 February 2025
-
At 29 February 2024
227,690
5
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
8,417
Other creditors
3,910
3,640
12,327
3,640