REGISTERED NUMBER: 10801029 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Hudgell (Property) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Chartered Accountants' Report

7

DIRECTOR:

N Hudgell

REGISTERED OFFICE:

No 2 At The Dock

46 Humber Street

Hull

East Riding

HU1 1TU

REGISTERED NUMBER:

10801029 (England and Wales)

ACCOUNTANTS:

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

FIXED ASSETS

Investments

4

100

100

Investment property

5

6,072,278

5,919,293

6,072,378

5,919,393

CURRENT ASSETS

Debtors

6

1,803,919

2,787,021

Cash at bank

821,166

166,308

2,625,085

2,953,329

CREDITORS

Amounts falling due within one year

7

(1,834,171

)

(1,988,018

)

NET CURRENT ASSETS

790,914

965,311

TOTAL ASSETS LESS CURRENT LIABILITIES

6,863,292

6,884,704

CREDITORS

Amounts falling due after more than one year

8

(2,084,294

)

(2,194,312

)

PROVISIONS FOR LIABILITIES

(296,825

)

(296,825

)

NET ASSETS

4,482,173

4,393,567

CAPITAL AND RESERVES

Called up share capital

3,675,430

3,675,430

Retained earnings

806,743

718,137

SHAREHOLDERS' FUNDS

4,482,173

4,393,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 September 2025 and were signed by:

N Hudgell - Director

1.	STATUTORY INFORMATION

Hudgell (Property) Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company is exempt by virtue of section 400 of the Companies Act from the requirement to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis.

The following critical accounting judgements have been used in these financial statements

Valuation of Investment property

Investment properties have been valued at an open market value based on valuations performed by third party experts at a specific date. The director uses judgement to apply any material changes from the date of the valuation to the balance sheet date.

Turnover

Turnover represents net services representing rental income, excluding value added tax in the UK and is recognised over the term of the rental agreement on a weekly or monthly basis as appropriate.

Turnover also includes the provision of consultancy services.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at fair value at the reporting date, any changes in fair value are recognised in profit or loss and presented within "Other operating gains/(losses)".

When an investment property is sold, the profit or loss on disposal, which is the difference between the carrying value and the sale proceeds is presented within "Other operating income/expense".

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Share capital

Ordinary shares are classed as equity.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the Income Statement.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

100

NET BOOK VALUE

At 31 March 2025

100

At 31 March 2024

100

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

5,919,293

Additions

152,985

At 31 March 2025

6,072,278

NET BOOK VALUE

At 31 March 2025

6,072,278

At 31 March 2024

5,919,293

The valuations of the investment properties in 2021, 2023 and 2024 were determined by an independent, professionally-qualified (RICS) valuer. The assumptions used in this valuation were that the properties were subject to their existing tenancies (if applicable), assuming individual sales rather than the sale of the entire portfolio, and individual marketing periods of up to 12 months per property.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2021

(39,533

)

Valuation in 2023

560,745

Valuation in 2024

263,550

Cost

5,287,516

6,072,278

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,803,919

2,787,021

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

110,000

110,000

Taxation and social security

29,535

22,032

Other creditors

1,694,636

1,855,986

1,834,171

1,988,018

Amounts owed to related party undertakings are unsecured, interest free and repayable on demand.

Other creditors are represented by amounts owed to companies under common control - see note 12.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

1,734,711

1,844,711

Other creditors

349,583

349,601

2,084,294

2,194,312

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

349,583

349,601

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,844,711

1,954,711

Other loans

349,583

349,601

2,194,294

2,304,312

Both the bank loans and other loans are secured against property owned by the company.

10.	RELATED PARTY DISCLOSURES

Included within other debtors is a balance with Kingston Developments 1882 Limited, a company under common control, of £809,068 (2024 £809,068).

Included within other debtors is a balance with Preston Road Developments Limited,, a company under common control, of £666 (2024 £666).

Tribal Bar Limited, a company under common control received £NIL from the company in the period. At the year end a balance of £3,000 (2024 £3,000) was due from Tribal Bar Limited.

CHFP Developments Limited, a company under common control received £56,000 from the company in the period. At the year end a balance of £139,638 (2024 £83,638) was due from CHFP Developments Limited.

Brainworks (Food) Limited, a company under common control received £22,000 from the company in the period. At the year end a balance of £43,120 (2024 £21,120) was due from Brainworks (Food) Limited.

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N Hudgell.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hudgell (Property) Limited for the year ended 31 March 2025 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Hudgell (Property) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Hudgell (Property) Limited and state those matters that we have agreed to state to the director of Hudgell (Property) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hudgell (Property) Limited and its director for our work or for this report.

It is your duty to ensure that Hudgell (Property) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hudgell (Property) Limited. You consider that Hudgell (Property) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hudgell (Property) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bennett Brooks & Co Limited

Chartered Accountants

St George's Court

Winnington Avenue

Northwich

Cheshire

CW8 4EE

22 September 2025