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Registered number: 12389392
HGA Properties Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 12389392
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 111,925 115,464
Investment Properties 5 579,000 579,000
690,925 694,464
CURRENT ASSETS
Debtors 6 18,763 46,625
Cash at bank and in hand 5,387 5,379
24,150 52,004
Creditors: Amounts Falling Due Within One Year 7 (106,944 ) (138,833 )
NET CURRENT ASSETS (LIABILITIES) (82,794 ) (86,829 )
TOTAL ASSETS LESS CURRENT LIABILITIES 608,131 607,635
Creditors: Amounts Falling Due After More Than One Year 8 (370,989 ) (423,376 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (44,118 ) (44,790 )
NET ASSETS 193,024 139,469
CAPITAL AND RESERVES
Called up share capital 11 125 125
Revaluation reserve 13 212,707 212,007
Income Statement (19,808 ) (72,663 )
SHAREHOLDERS' FUNDS 193,024 139,469
Page 1
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr A J Lewis
Director
4 August 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
HGA Properties Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12389392 . The registered office is The Octagon, Wells Road, Ilkley, West Yorkshire, LS29 9JB.
2. Accounting Policies
2.1. Basis of Preparation of 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.
2.2. Going Concern Disclosure
When preparing the financial statements, the directors have made an assessment of the company's ability to continue as a going concern. The company is considered a going concern as the directors have no intention to liquidate the company or to cease trading. In assessing whether the going concern asumption is appropriate the directors have taken into account all available information about the future, which is at least, but is not limited to, twelve months from the date when the financial statements are authorised for issue.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings Revalued each year/ 15% on on reducing
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.
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2.7. 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.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 2)
1 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 January 2024 - 23,958 95,000 118,958
Additions 31,917 - 1,736 33,653
Disposals (31,917 ) - (700 ) (32,617 )
Revaluation - - 700 700
As at 31 December 2024 - 23,958 96,736 120,694
Depreciation
As at 1 January 2024 - 3,494 - 3,494
Provided during the period 1,908 5,116 - 7,024
Disposals (1,749 ) - - (1,749 )
As at 31 December 2024 159 8,610 - 8,769
Net Book Value
As at 31 December 2024 (159 ) 15,348 96,736 111,925
As at 1 January 2024 - 20,464 95,000 115,464
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 and 31 December 2024 579,000
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6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 8,945 9,383
Other debtors 2,405 37,242
11,350 46,625
Due after more than one year
Other debtors 7,413 -
18,763 46,625
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,573 6,275
Trade creditors 28,277 38,187
Bank loans and overdrafts 24,933 21,654
Other creditors 24,255 63,553
Taxation and social security 23,906 9,164
106,944 138,833
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,817 15,687
Bank loans 349,672 328,925
Other creditors 10,500 78,764
370,989 423,376
9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Bank loans and overdrafts 320,030 299,533
Other Creditors 16,390 21,962
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,573 6,275
Later than one year and not later than five years 10,817 15,687
16,390 21,962
16,390 21,962
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11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 125 125
12. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
Director 1
At start of period - £26,004
Amounts advanced - £0
Amounts repaid - (£26,004)
At end of period - £0
The above loan is unsecured, interest free and repayable on demand.
13. Reserves
Revaluation Reserve
£
As at 1 January 2024 212,007
Surplus on revaluation 700
As at 31 December 2024 212,707
14. Exceptional Items
Exceptional items includes:- 
Two loans totalling £14,139 have been assigned to the company and have been charged to the income statement. 
A loan in the amount of £50,000 is no longer payable and has been credited to the income statement.
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