| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| HENRY PROPERTY LTD |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 |
| FOR |
| HENRY PROPERTY LTD |
| HENRY PROPERTY LTD (REGISTERED NUMBER: 08658221) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| For The Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HENRY PROPERTY LTD |
| COMPANY INFORMATION |
| For The Year Ended 31 August 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 7a Abbey Business Park |
| Monks Walk |
| Farnham |
| Surrey |
| GU9 8HT |
| ACCOUNTANTS: |
| Office 8, No.11 Riverside |
| Riverside Park |
| Farnham |
| Surrey |
| GU9 7UG |
| HENRY PROPERTY LTD (REGISTERED NUMBER: 08658221) |
| BALANCE SHEET |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the director and authorised for issue on |
| HENRY PROPERTY LTD (REGISTERED NUMBER: 08658221) |
| NOTES TO THE FINANCIAL STATEMENTS |
| For The Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| Henry Property Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover comprises revenue recognised by the company in respect of rents receivable during the year, adjusted for any deferred income. |
| Investment properties |
| Investment property is carried at fair value and determined annually from current market conditions for comparable properties, adjusted if necessary for any difference in location of condition of the asset. Changes in the fair value are recognised in the profit and loss account. |
| No depreciation is provided in respect of investment properties. |
| Taxation |
| Income tax expense represents the sum of the tax currently payable and deferred tax. |
| The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. |
| Current tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current tax are recognised in other comprehensive income or directly in equity respectively. |
| Trade and other debtors |
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty or notice of not more than 24 hours. |
| Trade and other creditors |
| Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are |
| measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| HENRY PROPERTY LTD (REGISTERED NUMBER: 08658221) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 August 2024 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| Revaluations | (3,153 | ) |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Fair value at 31 August 2024 is represented by: |
| £ |
| Valuation in 2024 | 679,428 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other debtors |
| Prepayments and accrued income |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Amounts owed to group undertakings |
| Corporation Tax liability |
| Directors' loan accounts | 74,160 | 70,185 |
| Accruals and deferred income |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary A | 1 | 100 | 100 |
| Ordinary B | 1 | 1 | 1 |
| 101 | 101 |
| HENRY PROPERTY LTD (REGISTERED NUMBER: 08658221) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| For The Year Ended 31 August 2024 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| After the year end, it became apparent that the group had breached the small group limits and as such the company is now required to have its financial statements audited. As this is the first year that the financial statements have been audited, the comparative figures, for the year ended 31 August 2023, are unaudited. |
| However, as part of the audit for the year ended 31 August 2024, we have been able to obtain sufficient appropriate audit evidence that the opening balances did not contain misstatements which would materially affect the current period's financial statements and therefore our opinion is unqualified. |
| for and on behalf of |
| 9. | RELATED PARTY TRANSACTIONS |
| At the Balance Sheet date the company owed £74,160 (2023: £70,185) to the director. |
| At the Balance Sheet date, the company owed £624,333 (2023: £623,046) to a related party; The Italian Food Brokerage Agency Ltd which is shown in Amounts owed to group undertakings. |
| 10. | RESERVES |
| Profit and loss account - includes all current and prior period retained profits and losses. |