HB Building Property Services Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI619070

HB Building Property Services Limited

Filleted Financial Statements

31 December 2024

HB Building Property Services Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

HB Building Property Services Limited

Officers and Professional Advisers

The board of directors	Mr M A Herbert
	Mr J Carlisle

Registered office	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Auditor	Maneely Mc Cann Chartered Accountants
	Chartered accountants & statutory auditor
	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Bankers	Danske Bank
	Donegall Square West
	Belfast
	BT1 6JS

Solicitors	Carson McDowell
	Murray House
	Murray Street
	Belfast
	BT1 6DN

	DWF (Northern Ireland) LLP
	Jefferson House
	42 Queen Street
	Belfast
	BT1 6HL

HB Building Property Services Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Current assets

Stocks		1,189,445	2,045,882
Debtors	4	6,841,697	6,456,584
Cash at bank and in hand		7,218	1,342
		------------	------------
		8,038,360	8,503,808

Creditors: amounts falling due within one year	5	4,410		57,314
		------------		------------
Net current assets			8,033,950	8,446,494
			------------	------------
Total assets less current liabilities			8,033,950	8,446,494

Creditors: amounts falling due after more than one year	6	6,081,277	6,012,833
		------------	------------
Net assets		1,952,673	2,433,661
		------------	------------

Capital and reserves

Called up share capital	1	1
Profit and loss account	1,952,672	2,433,660
	------------	------------
Shareholders funds	1,952,673	2,433,661
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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 were approved by the board of directors and authorised for issue on 23 April 2025 , and are signed on behalf of the board by:

Mr J Carlisle

Director

Company registration number: NI619070

HB Building Property Services Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Aisling House, 50 Stranmillis Embankment, Belfast, BT9 5FL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stocks

Work in Progress Sites for development are valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provisions are made for foreseeable losses where appropriate. No element of profit is included in the valuation for the site development.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2024	2023
	£	£
Trade debtors	8,740	11,657
Amounts owed by group undertakings and undertakings in which the company has a participating interest	6,460,520	6,444,520
Other debtors	372,437	407
	------------	------------
	6,841,697	6,456,584
	------------	------------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	6,466,520	6,444,520
	------------	------------

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	–	9,550
Social security and other taxes	1,517	126
Other creditors	2,893	47,638
	-------	--------
	4,410	57,314
	-------	--------

6. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	6,081,277	6,012,833
	------------	------------

7. Summary audit opinion

The auditor's report dated 23 April 2025 was unqualified .

The senior statutory auditor was Cathal Maneely , for and on behalf of Maneely Mc Cann Chartered Accountants .

8. Related party transactions

Control The company is a wholly owned subsidiary of Kirk Bryson & Co Limited, a company incorporated in Northern Ireland, which is a wholly owed subsidiary of Herbel Limited, a company incorporated in Northern Ireland. Banner Dell Limited, a company incorporated in England and Wales, is the shareholder of Herbel Limited. Banner Dell Limited is a wholly owned subsidiary of Herbert Corporate Holdings Limited, a company incorporated in Northern Ireland. Herbert Corporate Holdings Limited is a wholly owned subsidiary of Herbert Corporate Holdings (IOM) Limited, a company incorporated in Isle of Man. Mrs L E Herbert is the sole shareholder of Herbert Corporate Holdings (IOM) Limited and as such is considered to be the company's ultimate controlling party. Transactions The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with Financial Reporting Standard No 102 Section 1A Appendix C, Related Party Disclosures.

9. Controlling party

Herbert Corporate Holdings (IOM) Limited is the company's ultimate parent company. Copies of consolidated financial statements may be obtained from Ground Floor, Dorchester House, Belmont Hill, Douglas, Isle of Man, IM1 4RE .