Horbury Bridge (Properties) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05948755 (England and Wales)

Financial Statements

for the Year Ended 31 December 2024

for

Horbury Bridge (Properties) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

R Medley

J R Medley

SECRETARY:

R Medley

REGISTERED OFFICE:

Machenair House

39 Wakefield Road

Ossett

Wakefield

West Yorkshire

WF5 9LB

REGISTERED NUMBER:

05948755 (England and Wales)

AUDITORS:

Stirk Lambert & Co

Chartered Accountants

Statutory Auditors

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

FIXED ASSETS

Tangible assets

5

860,519

890,325

Investment property

6

423,500

1,284,019

1,313,825

CURRENT ASSETS

Debtors

7

482,457

194,645

Cash at bank

4,797,136

1,628,372

5,279,593

1,823,017

CREDITORS

Amounts falling due within one year

8

(3,638,498

)

(552,662

)

NET CURRENT ASSETS

1,641,095

1,270,355

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,925,114

2,584,180

CAPITAL AND RESERVES

Called up share capital

9

2

Retained earnings

2,925,112

2,584,178

SHAREHOLDERS' FUNDS

2,925,114

2,584,180

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 Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

J R Medley - Director

1.	STATUTORY INFORMATION

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered and rental income, net of discounts and Value Added Tax.

Revenue from the rendering of services is measured by reference to the stage of completion of the service

transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the

outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Rental income from properties is recognised in income on a straightline basis over the term of the lease, net of discounts and Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss and any subsequent reversal is recognised in the profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled. or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Assets leased to customers

Assets leased to customers under operating leases are capitalised in accordance with the Tangible fixed asset policy. Operating lease income is accounted for on a straight line basis with rents being recognised during the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Motor

Computer

property

vehicles

equipment

Totals

£

COST

At 1 January 2024

1,241,048

61,444

24,425

23,332

1,350,249

Disposals

-

(18,975

)

-

(18,975

)

At 31 December 2024

1,241,048

61,444

5,450

23,332

1,331,274

DEPRECIATION

At 1 January 2024

390,198

21,969

24,425

23,332

459,924

Charge for year

28,577

1,229

-

29,806

Eliminated on disposal

-

(18,975

)

-

(18,975

)

At 31 December 2024

418,775

23,198

5,450

23,332

470,755

NET BOOK VALUE

At 31 December 2024

822,273

38,246

-

860,519

At 31 December 2023

850,850

39,475

-

890,325

The tangible fixed assets are mainly used by other group trading companies.

During the prior year, part of the property occupied by the company and its group members was rented to an external tenant, resulting in the property being classified as mixed-use. Accordingly, the portion of the property rented to external tenants has been reclassified as an investment property.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

423,500

NET BOOK VALUE

At 31 December 2024

423,500

At 31 December 2023

423,500

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

126,032

Cost

297,468

423,500

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

300,025

15,102

Amounts owed by group undertakings

41,803

VAT

-

420

Prepayments

140,629

137,320

482,457

194,645

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade creditors

44,549

6,441

Amounts owed to group undertakings

3,334,968

318,968

Tax

121,913

97,322

VAT

1,515

-

Accrued expenses

135,553

129,931

3,638,498

552,662

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

2

Ordinary

£1

2

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Hudson FCA (Senior Statutory Auditor)

for and on behalf of Stirk Lambert & Co

11.	OPERATING LEASES

As Lessor

The total future minimum lease payments receivable under non-cancellable leases are as follows:

2024

2023

£

Not later than 1 year

28,000

27,500

Later than 1 year and not later than 5 years

2,033

30,333

58,083

12.	RELATED PARTY DISCLOSURES

Directors Messrs R and J R Medley own 70.4% of the shares in the ultimate holding company, Horbury Bridge (Holdings) Limited. Horbury Bridge (Holdings) Limited controls other subsidiary companies, MAP Ventilation Limited (100%) and Machenair Limited (100%).The results of these companies are disclosed in the group consolidated accounts and details are not therefore also disclosed within these accounts.

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by Horbury Bridge (Holdings) Limited, a company registered in England & Wales.