Hulmow Properties Limited - Filleted accounts

Registered number

00732918

Hulmow Properties Limited

Filleted Accounts

31 March 2025

Hulmow Properties Limited
Registered number:		00732918
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed Assets
Tangible Assets	3		600,134			700,178

Current Assets
Debtors	4	36,816			36,082
Bank and Cash		72,577			70,909
		109,393			106,991

Creditors: Due Within One Year	5	(61,329)			(59,394)

Net Current Assets			48,064			47,597

Total Assets less Current Liabilities			648,198			747,775

Deferred Tax			(5,831)			(24,831)

Net Assets			642,367			722,944

Capital and Reserves
Called Up Share Capital			12,000			12,000
Fair Value Reserve	6		423,976			504,976
Profit and Loss Account			206,391			205,968

Shareholders' Funds			642,367			722,944

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


___________________
R C M Gower FRICS
Director
Approved by the board on 8 September 2025

Hulmow Properties Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting Policies

	Basis of Preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes income from rents and maintenance charges invoiced to tenants in the year.

	Tangible Fixed Assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is generally provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life. The directors have however chosen not to depreciate the freehold buildings at present. The rates of depreciation on the assets of the company are:

	Freehold buildings	No depreciation provided
	Plant and Machinery	25% reducing balance

	Investment Property
	The investment property is measured at 'fair value' with any gains or losses being taken to/from the profit and loss account and the revlued amount is shown in the fair value reserve net of the deferred tax charge/credit.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Deferred tax has been provided on the gain in the investment property using the tax laws and rates that have been enacted by the balance sheet date.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			2		2


3	Tangible Fixed Assets
		Land and Buildings		Plant and Machinery		Total
£			£		£
	Cost
	At 1 April 2024	700,000		9,920		709,920
	Deficit on Revaluation	(100,000)		-		(100,000)
	At 31 March 2025	600,000		9,920		609,920

	Depreciation
	At 1 April 2024	-		9,742		9,742
	Charge for the year	-		44		44
	At 31 March 2025	-		9,786		9,786

	Net Book Values
	At 31 March 2025	600,000		134		600,134
	At 31 March 2024	700,000		178		700,178

	Freehold land and buildings:			2025		2024
£					£
	Historical cost			170,193		170,193
	Cumulative depreciation based on historical cost			-		-
				170,193		170,193
	The freehold properties were re-valued by Mr R C M Gower who is a director of Mullock and Gower a firm of Chartered Surveyors on 31st March 2025 at a value of £600,000.


4	Debtors			2025		2024
£					£

	Trade Debtors			10,980		10,980
	Other Debtors			25,836		25,102
				36,816		36,082


5	Creditors: Due Within One Year			2025		2024
£					£

	Corporation Tax and Vat			19,792		17,451
	Other Creditors			41,537		41,943
				61,329		59,394


6	Fair Value Reserve			2025		2024
£					£

	At 1 April 2024			504,976		504,976
	Loss on Revaluation of Land & Buildings			(100,000)		-
	Deferred Tax Adjustment - on Revaluation			19,000		-

	At 31 March 2025			423,976		504,976

	The revaluation reserve has been renamed the fair value reserve in line with the requirements of FRS102.


7	Other Information

	Hulmow Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Eagle House
	Cranleigh Close
	Sanderstead
	South Croydon
	CR2 9LH